Latest Tax Updates, News, Articles & Notifications
Section 145 becomes Section 276 and Section 145A becomes Section 277 under the Income-tax Act 2025 from 1 April 2026. How ICDS, method of accounting and inventory valuation carry forward into FY 2026-27, with a Form 3CD action checklist and FAQ.
Section 148 of the Income-tax Act 2025 replaces Section 80M: how domestic companies claim the inter-corporate dividend deduction, and the one-month timing rule.
CBDT Notification 94/2026 (G.S.R. 646E, 21 July 2026) widened the specified-fund definition in Rule 157. Read alongside the no-TDS reliefs for IFSC units and the Section 80LA holiday, here is the consolidated GIFT City IFSC tax map for 2026.
FAST-DS 2026 valuation guide: how to value each foreign asset for Form 1 under Rule 3, the lifetime-deposit bank account rule, the unquoted equity formula, indexed-cost fallback, and the 20 percent variance safe harbour.
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.
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.
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.
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.
