Minister of State Harsh Malhotra hailed Union Budget 2026-27 as a roadmap for Viksit Bharat 2047, highlighting infrastructure expansion, high-speed rail, expressways, skilling, AI and inclusive growth.
ICAI’s President reviews landmark initiatives including WOFA 2.0, ITEC programmes, audit reforms, sustainability reporting and ICAI's expanding global influence in the accounting profession.
Finance Bill 2026 amends section 332(1)(f) to exempt certain funds from mandatory NPO registration, effective from April 1, 2026.
Finance Bill 2026 removes commercial activity by NPOs from the list of specified violations under section 351, reducing the risk of registration cancellation.
New Section 354A under Finance Bill 2026 clarifies tax treatment on accreted income for mergers of registered non-profit organisations with similar objects.
Budget 2026 proposes no TDS on interest paid to co-operative banking societies, aligning Section 393(4) with the Income-tax Act, effective April 2026.
GSTN has merged the 'Additional Notices & Orders' tab with 'Notices and Orders' on the GST Portal, offering a single window for all GST communications and improved compliance tracking.
Schedule XI of the Income-tax Act is being rationalised to remove outdated PF provisions and align with EPF laws. Know the major changes applicable from AY 2026-27.
From FY 2026-27, consideration received on buyback of shares will be taxed as capital gains, replacing dividend taxation and introducing higher tax liability for promoters.
The government has amended the capital gains exemption on Sovereign Gold Bonds to apply only when bonds are subscribed at original issue and held till maturity. Effective from AY 2026-27.
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