Latest Tax Updates, News, Articles & Notifications
57th GST Council recommendations of 8 October 2026: withdrawal of arrest powers, Rs 5 crore prosecution threshold, automated refunds, wider ITC and lower penalties.
CBDT Notification 134/2026 substitutes Form 161 for penalty waiver under Section 440: pay 100% or 120% additional income-tax instead of a 200% misreporting penalty.
RoDTEP scheme extended till 31 December 2026 by DGFT Notification 41/2026-27: rates and caps as on 30 Sep 2026 continue for DTA, AA, SEZ and EOU exports.
SEBI accredited investor framework 2026: the 24 Sep Board approved manager-led accreditation, a Rs 5 crore exposure test and deemed status for non-residents.
FDI in inventory-based e-commerce is now allowed for exports of Indian-made goods under NDI Rules entry 15.2.5 (S.O. 4870(E)). What it permits and what it does not.
RBI’s 22 September 2026 amendment keeps export realisation at nine months from 1 October 2026: from shipment for goods, invoice for services, sale for warehouse goods; twelve months for INR exports.
CBDT Circular 07/2026 extends the AY 2026-27 tax audit due date to 21 October 2026 and the ITR date to 21 November 2026 for audited assessees outside Section 92E.
Missed the 30 September 2026 tax audit deadline? Section 271B penalty (0.5%, max Rs 1.5 lakh), the Section 273B defence, and the new Section 428 flat fee from 2026-27.
From 1 October 2026, resident individual and HUF buyers deduct TDS on property bought from an NRI through Form 141 Schedule E, with no TAN (CBDT Notification 121/2026).
Section 40A(3) disallows cash business payments over Rs 10,000 (Rs 35,000 for goods carriage) in full. Rule 6DD exceptions, Clause 21(d) reporting and the move to Section 36 of the Income-tax Act 2025.
