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Budget 2026 extends Revised Income Tax Return Deadline to 12 Months

February 2, 2026 4095 Views 0 comment Print

The Finance Bill, 2026 proposes extending the revised return filing window to twelve months. This gives taxpayers more time to correct mistakes, even after filing belated returns.

Budget 2026 Introduces Foreign Asset Disclosure Scheme for Small Taxpayers

February 2, 2026 2088 Views 0 comment Print

The scheme allows eligible taxpayers to declare undisclosed foreign income or assets with payment of prescribed dues and limited immunity under the Black Money law.

Budget 2026 relaxes conditions for prosecution under Black Money Act

February 2, 2026 1575 Views 0 comment Print

The Finance Bill, 2026 proposes immunity from prosecution for undisclosed foreign assets below ₹20 lakh, excluding immovable property. The key takeaway is reduced criminal exposure for minor and inadvertent lapses.

Employee Contribution to PF/ESIC allowable if Paid by ITR due date

February 2, 2026 3870 Views 0 comment Print

The amendment replaces the fund-specific due date with the return-filing deadline for claiming deductions. Employers gain greater compliance flexibility going forward.

Income Tax Rates for AY 2026-27 and AY 2027-28

February 2, 2026 74124 Views 0 comment Print

The Finance Bill, 2026 continues the same tax slabs and rates as the previous year. Individuals, companies and other entities see no increase in income-tax burden.

Major GST Amendments – Key Updates from Union Budget 2026

February 1, 2026 7695 Views 0 comment Print

The law now permits deduction of post-supply discounts even if decided later. This eases commercial flexibility and reduces valuation disputes.

Income-tax Amendments in Budget 2026: Topic-wise Summary of Key Proposals

February 1, 2026 14664 Views 0 comment Print

The Budget introduces a new tax law, automated processes, and rationalised penalties. The key takeaway is faster compliance with fewer disputes.

Key Income Tax Amendments Proposed in Finance Bill, 2026

February 1, 2026 5967 Views 0 comment Print

The Budget accelerates migration to the Income Tax Act, 2025 with wide procedural and structural changes effective from April 2026.

FY 25–26 Tax Planning: Rebate Rules and STCG under Section 111A (New Regime)

February 1, 2026 5127 Views 0 comment Print

The rules clarify that special-rate incomes are excluded to test the ₹12 lakh limit, but rebate cannot reduce tax on STCG. The takeaway is clear separation between normal income rebate and special-rate taxation.

Overview of Union Budget 2026: Impact & Opportunities for India’s MSME Sector

February 1, 2026 1269 Views 0 comment Print

Budget 2026 focuses on easing compliance and expanding export opportunities for MSMEs. Simpler tax rules and removal of export caps aim to unlock growth and competitiveness.

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