The early weeks of 2026 have witnessed a seismic shift in the geopolitical and economic landscape as the United States and India finalised a landmark trade deal. Following a year of escalating tensions, punitive tariffs, and complex diplomatic manoeuvring, the agreement announced on February 2nd, 2026, by President Donald Trump and Prime Minister Narendra Modi marks a significant "reset" in the relationship between the world’s two largest democracies. This deal is not merely a technical adjustment of customs duties; it is a strategic alignment aimed at decoupling supply chains from shared adversaries, securing energy independence, and cementing a high-tech partnership that could define the mid-21st century. Below are the key features and pillars of this monumental agreement. 1. The Great Tariff Reduction: From 50% to 18% The most immediate and visible feature of the 2026 deal is the drastic reduction in U.S. tariffs on Indian goods. In August 2025, the U.S. administ...
Income Tax Rules 2021: Union Finance Minister Nirmala Sitharaman had announced the change in income tax rules while presenting the Union Budget 2021. These changes are to come into effect from April 1, 2021. As per the new rules, senior citizens aged 75 years and above will be exempted from filing ITR from April 1, 2021, with income from pension and interest from fixed deposits in the same bank. In addition, the Finance Minister proposed higher TDS for those who are not filing their ITRs and announced taxation of those who contributed more than 2.5 lakhs per annum to the EPF account. Let's take a look at 5 such income tax changes that will come into effect from April 1, 2021. PF Tax Rules: An annual employee contribution to a provident fund of more than 2.5 lakh ₹ will be taxed from April 1, 2021. The central government said that the move is aimed at taxing high-value deposits in Employee Provident Fund (EPF). Finance Minister Nirmala Sitharaman said that th...