Section 332 is amended to exclude certain Schedule VII funds from registration requirements. From AY 2026–27, these funds can claim tax exemption without registering as NPOs.
Section 349 is amended to permit belated return filing by NPOs through a reference to section 263(4). The change applies from AY 2026–27, restoring flexibility available under the earlier tax law.
The Finance Bill, 2026 updates Schedule XI to remove outdated contribution and investment limits. The changes bring income-tax rules in line with the EPF regime and the ₹7.5 lakh employer contribution cap.
The Finance Bill restricts SGB exemption to bonds subscribed at original issue and held till maturity. Secondary-market buyers will no longer qualify for the tax-free redemption benefit.
The Finance Bill, 2026 proposes higher STT rates on derivatives to rein in speculative trading. Options and futures transactions executed from 1 April 2026 will attract increased tax costs.
The Finance Bill, 2026 changes the tax treatment of share buy-backs by taxing proceeds as capital gains instead of dividend income. The move simplifies taxation and better reflects the nature of buy-back transactions.
The Finance Bill, 2026 exempts interest income paid to co-operative banks from TDS. The move aligns the law with earlier provisions and eases compliance for the co-operative banking sector.
The Bill simplifies filings, eases compliance, and boosts certainty. Key takeaways include revised deadlines, MAT changes, and targeted reliefs.
Recent Landmark GST Rulings: Key Takeaways for GST Practitioners – An analytical roundup of judicial trends shaping GST litigation and compliance Introduction The Goods and Services Tax law is now maturing into a litigation-rich regime where courts are increasingly called upon to balance revenue protection with taxpayer rights and ease of doing business. Over the past […]
The budget pivots from short-term stimulus to fiscal credibility by targeting a lower debt-to-GDP ratio. The key takeaway is a stronger foundation for sustainable growth and investment confidence.
