Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : The article explains how the Finance Act, 2026 replaced the deemed dividend framework with capital gains taxation. The change allo...
Income Tax : Taxpayers now get three extra months to correct mistakes in originally filed income tax returns. The revised return mechanism rema...
Finance : Secondary SGB buyers must now pay 12.5% LTCG tax, unlike primary holders. The change reshapes returns and investment strategies in...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : The amendments focus on reassessment timelines, electronic communication, and procedural clarity. The changes aim to reduce litiga...
Income Tax : MPTCA urges the Finance Ministry and CBDT to reconsider the proposed late fee for delayed tax audit reports in the Finance Bill, 2...
Income Tax : The Government introduced reforms to simplify tax dispute resolution, including broader immunity provisions and expanded scope for...
Income Tax : A focused session breaks down recent Budget amendments affecting NRI taxation. It highlights how changes impact income, investment...
Custom Duty : The new rules enhance duty-free allowances and introduce digital declarations. The overhaul aims to speed up clearance and improve...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026. The rescission is ...
Excise Duty : The government has extended key excise provisions and introduced a specific duty structure for CNG blended with biogas. The key ta...
Excise Duty : The government has reduced the effective National Calamity Contingent Duty on specified tobacco products. The key takeaway is a ca...
Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understanding the updated calendar can help avoid penalties and preserve important tax benefits.
The article explains how the Finance Act, 2026 replaced the deemed dividend framework with capital gains taxation. The change allows taxation of actual gains rather than the entire buyback consideration.
Taxpayers now get three extra months to correct mistakes in originally filed income tax returns. The revised return mechanism remains useful for correcting errors like missed income, deduction mistakes, and wrong capital gains reporting.
Secondary SGB buyers must now pay 12.5% LTCG tax, unlike primary holders. The change reshapes returns and investment strategies in gold bonds.
Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeaway is that buybacks are no longer the default option.
The Supreme Court has allowed taxpayers to challenge retrospective amendments validating JAO reassessment actions. It stayed ongoing proceedings while keeping all constitutional issues open.
The reform moves taxation from companies to shareholders, aligning buybacks with dividend taxation. This reduces tax arbitrage but increases investor tax liability.
CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax communications, ensuring greater transparency and legal validity.
The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal framework for tax computation, including applicable slabs and additional levies.
The issue arose from taxing buybacks as dividends, causing higher tax burden and unusable capital losses. The reform restores capital gains taxation, easing compliance and aligning with asset transfer principles.
