NRIs Get Major Tax Relief in Budget 2026: Investment Limit Up to 10%, TCS Cuts on Overseas Spending:

NRIs Get Major Tax Relief in Budget 2026: Investment Limit Up to 10%, TCS Cuts on Overseas Spending Finance Minister Nirmala Sitharaman announced new changes in the 2026-27 Union Budget to make it easier and more affordable for Non-Resident Indians (NRIs), international travellers, and families sending money abroad for education or medical treatment to move their money. The goal of these changes is to reduce the taxes people have to pay upfront, simplify the paperwork and rules, and encourage more people to use India’s financial system from abroad.

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Budget 2026 Highlights: Nirmala Sitharaman Announces Important Tax Changes

While presenting the budget in Parliament, Finance Minister Nirmala Sitharaman announced that individual persons resident outside India (PROIs) will now be allowed to invest in equity instruments. Additionally, the government plans to raise the investment limit for a single PROI from 5% to 10%. The overall investment cap for all individual PROIs combined will also be increased from the current 10% to 24%. This action is a major relaxation of the rules under the Portfolio Investment Scheme. It is meant to attract long-term investments from Indians living abroad and to encourage more people to invest in India’s stock markets.