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 : 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...
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...
Goods and Services Tax : Discover the key amendments in the Finance (No. 2) Bill, 2024, affecting CGST, IGST, UTGST, and Cess Act, including tax exemptions...
Income Tax : A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2...
Income Tax : U/s 250(4), the CIT (A) has the power to direct enquiry and call for evidence from the assessee. Under Rule 46A, the assessee has ...
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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
The Budget introduces a six-month window to declare undisclosed foreign assets or income. Eligible disclosures receive limited relief from penalty and prosecution upon payment of prescribed tax or fee.
The Budget extends deductions for primary cooperatives to cattle feed and cotton seed supplies while easing tax treatment of dividend income. The move aims to improve financial sustainability and member benefits.
The Budget exempts non-residents paying tax on a presumptive basis from MAT while offering targeted income tax holidays. These measures aim to improve tax certainty and attract foreign investment.
The Budget introduces exemptions, lower TCS rates, and simplified compliance to reduce taxpayer burden. Key relief includes tax-free MACT interest and extended timelines for return revision.
The Budget confirms that the Income Tax Act, 2025 will take effect from 1 April 2026 with redesigned rules and forms. The move aims to simplify understanding and improve voluntary compliance.
The Budget proposes a single integrated order for assessment and penalty to avoid parallel proceedings. The key takeaway is reduced compliance burden and faster resolution of tax disputes.
The Budget sharply increases the safe harbour threshold for IT services from ₹300 crore to ₹2,000 crore. This brings a much larger segment of IT companies under a simplified transfer pricing regime.
The Budget proposes reducing customs duty on all dutiable personal imports from 20% to 10%. The key takeaway is direct relief for travellers and individuals importing goods for personal use.
The Budget proposes moving effective duty rates into the tariff and removing outdated exemptions. The key takeaway is greater transparency and easier determination of applicable customs duties.
The Budget proposes removal of Section 13(8)(b), ending supplier-location-based taxation for intermediary services. The key takeaway is that exports will become zero-rated while imports will attract GST under RCM.
