The proposed amendment doubles the deduction period for IFSC units. It offers long-term tax certainty to boost global competitiveness.
Advances between group entities will qualify for dividend exclusion only if both entities are located outside India. The amendment reduces ambiguity and aligns with global treasury operations.
The order deals with failure to attach a registered valuer’s report while filing PAS-3 for debenture allotment. It confirms that such procedural lapses attract penalties under company law.
The Finance Bill proposes a sharp increase in the penalty for failing to furnish information. The move aims to improve compliance and deterrence.
The Bill proposes halving the tax rate on unexplained income from 60% to 30%. It signals a shift towards proportionate taxation while retaining strict scrutiny. The change applies prospectively from April 2026.
Taxpayers can now seek immunity even where under-reporting arises from misreporting. This is allowed on payment of additional tax in place of penalty. The move encourages faster dispute settlement.
Taxpayers can now seek immunity even where under-reporting results from misreporting. Payment of full tax, interest, and additional tax replaces penalty and blocks prosecution. The move encourages faster dispute closure.
Federal cooperatives receive a temporary deduction for dividends earned from company investments made before 31 January 2026. This relief applies under both tax regimes but ends after tax year 2028–29.
The Finance Bill, 2026 extends section 149 deductions to profits from cattle feed and cotton seed supply by primary cooperatives. This brings allied agricultural activities at par with existing eligible supplies.
Cooperatives registered under the Multi-State Cooperative Societies Act, 2002 are formally included in the Income-tax Act definition. The change aligns taxation with the existing cooperative regulatory framework.
