FINANCEOUTLOOKINDIA8 JULY, 2026REPORTITR FILING CALENDAR REVISED FOR AY 2026-27: CHECK DETAILSAPPLE RAISES PRODUCT PRICES IN INDIA; CHECK NEW RATESGOLDMAN SACHS RAISES INDIA'S 2026 GDP GROWTH FORECAST TO 6.8%PASSPORT FEES REVISED AFTER 14 YEARS, NEW CHARGES EFFECTIVE JULY 1The Income Tax Return (ITR) filing schedule for Assessment Year (AY) 2026-27 is substantially changed, giving more time to several taxpay-ers and extending tax filing window for revision of returns. The new schedule is expected to help business owners, professionals, freelancers and in-vestors in having greater flexibility to comply with taxes.The revised filing calendar has allowed the taxpayers (who do not fall under the tax audit) to submit their income tax returns till August 31, 2026 with a deadline of July 31, 2026. This move will provide eligible businesses and professionals another month to prepare and file accurate returns. Apple has significantly increased the prices of several MacBook, iPad and home entertainment products in India, citing an unprecedented surge in memory and storage component costs driven by the global artificial intelligence (AI) boom.The price revision follows a worldwide reset of Apple's hardware pricing and affects multiple products across its Mac, iPad and Home lineup. Apple said the rapid expansion of AI data centres has created an extraordinary demand for memory and storage chips, resulting in the steepest increase in component prices the company has witnessed. Goldman Sachs has upgraded its macroeconomic forecast for India for calendar year 2026 to 6.8%, in the wake of the recent US-Iran peace accord, which has seen global crude oil prices tumbling significantly and India's overall economic outlook improving.The brokerage also trimmed down its inflation and current account deficit (CAD) expectations due to moderating energy prices and favourable domestic fundamentals. In its latest report, India: Improved Macro Outlook After the US-Iran Deal, Goldman Sachs said softer oil prices have significantly reduced macroeconomic risks for India, a major crude oil importer. Under the Passports (Amendment) Rules, 2026, the Ministry of External Affairs (MEA) has updated the passport fees and travel documents, which will take effect from July 1, 2026. The revision pertains to new passport applications, passport renewals, Tatkal services, replacement of lost or damaged passports, Police Clearance Certificates (PCC), and any other passport related services.The revised rates will charge applicants Rs 2,500 for a fresh passport or reissued passport of 36 pages, while the Tatkal will cost Rs 5,000 under the new rates. Among the changes, the 60-page passport will now cost the normal category a fee of Rs 3,500 and Tatkal category Rs 6,000.
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