Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Finance : The Supreme Court has allowed taxpayers to challenge retrospective amendments validating JAO reassessment actions. It stayed ongoi...
Income Tax : The issue arose from taxing buybacks as dividends, causing higher tax burden and unusable capital losses. The reform restores capi...
Income Tax : The Supreme Court has admitted a case to resolve conflicting interpretations of due dates for PF/ESI contributions. The ruling wil...
Income Tax : The Budget 2026 proposes shifting buyback taxation from dividend to capital gains. Promoters will face an additional tax to preven...
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 : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
The amendment clarifies that sums allowed as deductions earlier can become taxable in later years even without violation of conditions. This aligns post-repeal taxation with outcomes under the repealed law.
The Finance Bill standardises the meaning of “specified fund” by synchronising Schedule VI with existing provisions. The ruling outcome is clearer eligibility conditions and smoother application of income exemptions.
By adopting the section 10(4D) definition, the amendment ensures consistency across income-exemption provisions. The change enhances legal certainty and eases long-term tax planning for funds.
The Finance Bill, 2026 removes certain commercial activity violations from the scope of specified violations, preventing automatic cancellation of NPO registration from AY 2026–27.
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.
