Union Budget 2026: Sitharaman's Reforms Bring Cheer to NRIs

• Finance Minister Nirmala Sitharaman unveiled the Union Budget 2026, her ninth consecutive budget, introducing several reforms beneficial for Non-Resident Indians (NRIs).
• The investment limit for individual NRIs under the Portfolio Investment Scheme (PIS) has doubled from 5% to 10%, with the total cap for all NRIs in a single company increasing from 10% to 24%.
• TDS rules for NRIs selling immovable property are simplified, linking deduction and deposit to the buyer's PAN-based challan, easing procedural hurdles.
• NRIs are now included in the Foreign Asset Disclosure Scheme, a six-month program allowing regularization of undisclosed foreign income/assets with tax payment and immunity from prosecution.
• The Liberalized Remittance Scheme (LRS) sees a reduction in Tax Collected at Source (TCS) rate from 5% to 2%, indirectly benefiting NRI households by lowering upfront tax for remittances.

Why It Matters: The Union Budget 2026 introduces significant reforms, making India a more attractive investment and property market for NRIs.