The scheme allows eligible taxpayers to disclose undisclosed foreign assets or income with immunity from prosecution. The key takeaway is certainty and closure for small, non-wilful defaulters.
The DPDP Rules 2025 operationalise India’s data protection law with strict obligations and penalties. The key takeaway is that compliance is now a strategic and board-level priority.
Budget 2026 revamps Customs, Excise, and GST to simplify compliance and boost exports. The key takeaway is a trust-based, technology-driven indirect tax regime.
The Budget introduces a new Income-tax Act, eases compliance, and rationalises penalties. The key takeaway is a shift toward certainty, digital administration, and reduced litigation.
The FAQs explain revised Baggage Rules, 2026, enhancing duty-free limits, simplifying transfer of residence, and clarifying passenger categories to reduce disputes and speed up airport clearance.
The Finance Bill, 2026 clarifies that section 144C timelines govern final assessment orders. Sections 153 and 153B apply only up to the draft order stage, ending years of controversy.
The amendment clarifies how the sixty-day period under transfer pricing law must be calculated. It removes ambiguity that had led to annulment of assessments despite timely action by the TPO.
The amendments modify shipping tax provisions to fully integrate inland vessels into the tonnage tax regime. Regulatory references, certification norms, and compliance requirements are aligned with inland waterways law.
Furnishing incorrect crypto-asset information without rectification can attract a fixed penalty. The amendment strengthens accountability and data accuracy.
The Finance Bill, 2026 introduces a clear definition of “commodity derivative” in the Income-tax Act, 2025. This aligns the new law with existing tax provisions and removes ambiguity.
