Latest Tax Updates, News, Articles & Notifications
A blank or mismatched field verification report cannot support the Rule 22(1) reasons to believe. Karnataka HC (12 June 2026) and Calcutta HC (27 April 2026) on GST registration cancellation, REG-30 and Section 30 revocation.
FAST-DS 2026 is open from August 16 to December 31, 2026. CBDT Notification 114/2026 sets the rules: 60 percent on undisclosed foreign assets up to Rs 1 crore, or a flat Rs 1 lakh fee up to Rs 5 crore.
CBDT’s Annual APA Report FY 2025-26 records 1,035 advance pricing agreements up to 31 March 2026 and 220 signed in one year. Here is what it means for transfer pricing certainty, Sections 168 and 169 of the Income-tax Act 2025, and the safe harbour choice.
In Union of India v. Sunil Biyani, 2026 INSC 849, the Supreme Court held that a Section 69 CGST arrest order must be communicated to the person before arrest, and that a court dismissing an anticipatory bail plea as premature cannot grant interim protection.
RBI circular RBI/2026-27/232 of 7 August 2026 completes a four-part package making 3 to 5 year FCNR(B) and NRE deposits cheap for banks to hold. The mobilisation window shuts on 30 September 2026. Rates, tax treatment and the FEMA traps.
Kerala High Court, 9 July 2026: capital gains tax on a mortgaged property sold by the lender falls on the owner even where the bank appropriates every rupee. What is still deductible, and how to avoid the cash-flow trap.
RBI’s nine circulars of 6 August 2026 rewrite loan recovery conduct for banks, NBFCs and HFCs. Recovery calls 8 am to 7 pm, mandatory compensation, device-locking curbs. Effective 1 January 2027.
CBDT Notification 97/2026 notifies Form ITR-BN for block assessment in search and seizure cases. Who files it, the block period, the 60 per cent rate, and what changes from 1 April 2026.
SEBI’s circular dated 30 July 2026 operationalises GARUDA. Regular AIF schemes launch 10 working days after filing the Placement Memorandum; accredited-investor-only funds, LVFs and Angel Funds launch immediately.
The Finance Act 2026 created a permanent 31 August due date for non-audit business and professional income. Who qualifies, who was due 31 July, and the cost of filing late.
