FAST-DS 2026 proposes a one-time disclosure scheme for small taxpayers to declare undisclosed foreign assets with tax payment and limited immunity under the Black Money Act.
Budget 2026 proposes major relief for taxpayers by reducing imprisonment, introducing graded penalties and decriminalising procedural offences under tax law.
Budget 2026 proposes amendments to the Income Tax Act, 2025, allowing taxpayers to file updated returns even after reassessment notices under Section 280, promoting voluntary compliance and reducing litigation.
Resident individuals and HUFs buying immovable property from non-residents will no longer need to obtain TAN for TDS deduction from October 1, 2026, reducing compliance burden.
Electronic filing for lower or nil TDS certificates under Section 395 to be introduced from April 1, 2026, easing compliance and enabling faster digital approval for taxpayers.
Finance Ministry amends Section 263 of the Income Tax Act 2025 to allow filing of updated returns for reducing previously claimed losses. Effective FY 2026-27, this change eases compliance and provides flexibility for taxpayers.
Taxpayers can now file revised ITRs within 12 months from the end of the tax year, easing compliance under the Income Tax Act 2025. Effective FY 2026-27.
The Government proposes rationalisation of Income Tax Return due dates under the IT Act, 2025, extending deadlines for non-audit businesses and trusts to ease compliance, reduce grievances, and allow more time for account preparation.
Finance Bill 2026 proposes targeted excise duty changes covering tobacco NCCD, green fuel incentives and diesel duty deferment.
Finance Bill 2026 proposes key customs law amendments, focusing on duty rationalisation, tariff simplification and trade facilitation.
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