The ROC ruled that filing an annual return with wrong AGM dates violates statutory obligations. Subsequent requests to mark the form defective do not nullify penalty liability.
Explains how Budget 2026–27 restructures tax provisions to reduce compliance burden and improve taxpayer experience. Highlights key exemptions, procedural simplifications, and enforcement rationalisation.
The regulator has mandated POPs to upload all offline subscriber grievances into CRA CGMS portals. This ensures that every complaint is centrally tracked, monitored, and analysed for effective regulatory supervision.
The Finance Bill, 2026 proposes to disallow interest deductions against dividend and mutual fund income. From April 2026, such income will be taxed on a gross basis.
The Finance Bill, 2026 proposes a clear income-tax exemption for compensation received on compulsory land acquisition. This aligns the tax law with the RFCTLARR Act and eliminates long-standing uncertainty.
The Finance Bill, 2026 proposes revised return-filing timelines to give taxpayers more preparation time. Non-audit business taxpayers gain an extended August deadline.
The Finance Bill, 2026 proposes extending the revised return filing window to twelve months. This gives taxpayers more time to correct mistakes, even after filing belated returns.
Nil excise duty now applies only to unbranded, non-retail raw tobacco, while other forms attract 18%, ensuring tax clarity and preventing misuse.
To improve transparency and reduce disputes, customs officers must record physical cargo examinations using BWCs. The requirement becomes mandatory across all formations from April 2026.
Customs has expanded SWIFT 2.0 by integrating additional regulatory agencies into a unified digital platform. The move simplifies EXIM compliance and reduces clearance delays.
