Union Budget & Policy News

Capital Gains Exemption on Sovereign Gold Bonds Tightened from AY 2026-27

06 February 2026 at 07:11

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.

Posted in Union Budget & Policy | 2760 Views

Interest Deduction on Dividend Income to Be Disallowed Under IT Act 2025 from April 2026

06 February 2026 at 07:10

Interest expenditure will no longer be allowed as a deduction against dividend and mutual fund income under Section 93 from April 2026.

Posted in Union Budget & Policy | 3519 Views

Belated Return Filing Now Allowed for Registered NPOs from AY 2026-27

06 February 2026 at 07:10

Amendment to Section 349 of the Income-tax Act, 2025 allows registered NPOs to file belated returns from AY 2026-27, restoring relief available under the old law.

Posted in Union Budget & Policy | 240 Views

Section 536 Amendment: Past Deductions to Be Treated as Income from AY 2026-27

05 February 2026 at 07:23

Section 536 of the Income-tax Act, 2025 is proposed to be amended to tax deductions or excluded income allowed under the repealed Income-tax Act, 1961, even without violation of conditions, from AY 2026-27.

Posted in Union Budget & Policy | 2103 Views

TDS/TCS Guidelines to Become Binding on Tax Authorities and Deductors from April 2026

05 February 2026 at 07:23

TDS and TCS guidelines issued under section 400(2) to be made binding on tax authorities and deductors from 1 April 2026.

Posted in Union Budget & Policy | 5238 Views

Penalty of Rs 200 per day for Non-Reporting of Crypto Transactions From April 2026

05 February 2026 at 07:23

Penalty proposed for non-furnishing or inaccurate reporting of crypto-asset transaction statements. Rs 200 per day and Rs 50,000 penalty from April 2026.

Posted in Union Budget & Policy | 1221 Views

Clarification on 60-Day Limit for TPO Orders to Reduce Litigation

05 February 2026 at 07:23

Clarification proposed on computation of 60 days for passing TPO orders under section 92CA. Amendment to apply retrospectively from June 2007.

Posted in Union Budget & Policy | 384 Views

TCS Rate Changes from AY 2026-27

05 February 2026 at 07:22

New TCS rates proposed under Section 394 include a flat 2% TCS on overseas tour packages without threshold and reduced rates for education and medical remittances under LRS from April 2026.

Posted in Union Budget & Policy | 3690 Views

Big Change in MAT Rules: No New MAT Credit, Rate Reduced to 14% From AY 2026-27

04 February 2026 at 08:26

Minimum Alternate Tax provisions are rationalised from AY 2026-27 with MAT rate cut to 14%, MAT becoming final tax in old regime and limited credit in new regime.

Posted in Union Budget & Policy | 4797 Views