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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Discover the key direct tax highlights of Union Budget 2025, including income tax exemptions, revised slabs, and new TDS limits for better compliance.
Key amendments in Chapter XIV-B on block assessment, undisclosed income, and time limits under Finance Bill 2025.
Understanding the rationalization of the time limit for retention of seized books of account under Section 132(8) in Finance Bill 2025.
Understanding the exclusion of time limits during Court stays in assessment proceedings under Finance Bill 2025 for Income Tax assessments.
Finance Bill 2025 rationalizes the time-limit for imposing penalties under section 275 of the Income-tax Act, setting a uniform limit of six months.
Finance Bill 2025 extends the processing period for immunity applications under section 270AA of the Income-tax Act from 1 month to 3 months.
Post-Finance Bill 2025, penalties under specified sections of the Income-tax Act will be levied by the Assessing Officer, with Joint Commissioner approval for higher amounts.
Penalty under Section 271AAB of the Income-tax Act is not applicable for searches after 1st September 2024, replaced by Section 158BFA penalty.
The Finance Bill 2025 amends Section 276BB, exempting prosecution for delayed TCS payment if paid before the prescribed filing deadline under Section 206C(3).
The Finance Bill 2025 simplifies taxation for self-occupied properties by relaxing conditions for determining annual value as nil, effective from AY 2025-26.
