Latest Tax Updates, News, Articles & Notifications
With the May 31, 2026 Q4 FY 2025-26 TDS statement deadline 19 days away, the CBDT 99-page FAQ TDS chapter resolves which Act governs deductor obligations, Form 16/16A section citations, default penalties under Section 234E/271H, and the Section 536 saving clause that preserves the 1961 Act for the Q4 transition window.
CBDT releases 99-page FAQ on the Income-tax Act 2025 transition. Section 536 saving clause preserves pre-April 1 2026 income, pending Section 148 reassessment, CIT(A)/ITAT appeals, loss carry-forward, and 80G/12A approvals. 10-step CA compliance checklist.
Section 92CE of the Income-tax Act 2025 requires Indian taxpayers to repatriate excess money from overseas associated enterprises within 90 days of any primary transfer pricing adjustment exceeding Rs 1 crore, failing which deemed interest accrues at SBI 1-year MCLR plus 325 basis points. This advisory covers the Rule 10CB mechanics, Form 3CEB and Form 3CD Clause 30B disclosures, and the 18 percent settlement option for AY 2026-27 compliance.
Calcutta HC ruling of April 21, 2026 in M/s Graphite India Ltd (ITA 407 of 2008): Section 80-IA deduction uses full State Board tariff with electricity duty; West Bengal sales tax remission is capital receipt. Practical guide for CAs.
CBDT Notification 64/2026 [G.S.R. 286(E)] dated April 16, 2026 rectifies 76 errors in the Income-tax Rules, 2026. Here is what every CA firm must update in templates, cross-references, and transfer pricing working papers before filing season.
Key Takeaways CBDT issued 7 corrigendum notifications (No. 57/2026 to 63/2026) on April 10, 2026, correcting errors in all ITR forms for AY 2026-27. ITR-1 gets a completely revamped Schedule-IT … Read More
What Changed: TCS on Foreign Remittances Rationalized The Finance Bill 2026, effective April 1, 2026, has rationalized Tax Collected at Source (TCS) rates on foreign remittances under the Liberalised Remittance … Read More
The Central Board of Direct Taxes (CBDT) has issued Circular No. 4/2026, dated March 31, 2026, mandating revised guidelines for the use of the Document Identification Number (DIN) in all … Read More
The Central Board of Direct Taxes (CBDT) has issued two landmark notifications on March 31, 2026, that directly address the anxiety caused by the Supreme Court’s Tiger Global judgment in … Read More
The 1961 Act Is Gone. Here Is What Replaces It. April 1, 2026 marks one of the most significant dates in Indian tax history. The Income Tax Act, 2025, which … Read More
