Income Tax : A significant change proposed in the current Union Budget relates to the disallowance of deduction of interest expenditure incurre...
Income Tax : The discussion highlights that differential tax treatment must satisfy the reasonable classification test under Article 14 of the ...
Income Tax : Budget 2026 restricts capital gains exemption on SGB redemption to original subscribers only. Secondary market investors redeeming...
Income Tax : Non-resident experts under notified government schemes will not be taxed on foreign income for five years, provided residency cond...
Income Tax : Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO ti...
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 : The Government said STT rate changes are reviewed annually during the Budget. No decision on increasing STT has been taken yet....
CA, CS, CMA : Budget 2026 prioritises easing compliance, reducing penalties, and cutting litigation rather than raising tax rates. The reforms a...
Custom Duty : New baggage rules and processing regulations are notified, replacing earlier frameworks and aligning customs procedures for passen...
Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Custom Duty : The notification introduces fully electronic baggage declarations, standard CBD forms, and risk-based checks to simplify passenger...
Custom Duty : The new rules revise general free allowance, laptop eligibility, and jewellery limits. Passengers must now assess baggage entitlem...
A significant change proposed in the current Union Budget relates to the disallowance of deduction of interest expenditure incurred on borrowings used for earning dividend income or income from units of mutual funds. The proposal seeks to amend Section 93(2) of the Income-tax Act, 2025, and is intended to come into effect from 1 April 2026.
The discussion highlights that differential tax treatment must satisfy the reasonable classification test under Article 14 of the Constitution. Incentives lacking a rational connection to policy objectives may face constitutional challenges.
Budget 2026 restricts capital gains exemption on SGB redemption to original subscribers only. Secondary market investors redeeming after 1 April 2026 will now face capital gains tax.
Non-resident experts under notified government schemes will not be taxed on foreign income for five years, provided residency conditions are satisfied.
Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO timelines. The changes directly impact ongoing appeals, rectification, revision, and reassessment proceedings, altering litigation strategy for taxpayers and authorities alike.
DGFT’s sudden reduction in RoDTEP rates reduces FOB margins by 1–2%, compelling exporters to reassess pricing and cost strategies immediately.
Budget 2026 retains existing income tax slabs but revises TCS, STT, and compliance timelines. The key takeaway is simplified procedures, rationalized penalties, and expanded exemptions across sectors.
The amendment confirms that once a draft assessment order is issued within limitation, DRP and final assessment timelines operate independently under Section 144C.
Budget 2026 proposes easing valuation rules for post-sale discounts, but existing Section 15(3)(b) conditions continue to apply until notified.
Budget 2026 introduces electronic system for lower or nil TDS certificates from 1 April 2026, impacting cash flow, MSMEs and compliance duties.
