CAclubindia News
Clarification on 60-Day Limit for TPO Orders to Reduce Litigation
05 February 2026 at 07:23Clarification proposed on computation of 60 days for passing TPO orders under section 92CA. Amendment to apply retrospectively from June 2007.
TCS Rate Changes from AY 2026-27
05 February 2026 at 07:22New 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.
Big Change in MAT Rules: No New MAT Credit, Rate Reduced to 14% From AY 2026-27
04 February 2026 at 08:26Minimum 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.
Penalty for Under-Reporting of Income to Be Imposed in Assessment Order From AY 2027-28
04 February 2026 at 08:25Proposed amendments to Sections 270A, 274 and 220 seek to merge assessment and penalty proceedings and defer interest till appeal disposal.
GST Collections January 2026 Rise 6.2% YoY to Rs 1.93 Lakh Crore
04 February 2026 at 08:25January 2026 GST collections increased 6.2% to Rs 1.93 lakh crore as net GST revenue grew 7.6%, reflecting stable demand and improved tax compliance.
Finance Bill 2026: Key Penalties Converted into Mandatory Fees from AY 2026-27
04 February 2026 at 08:25Finance Bill 2026 proposes converting audit, transfer pricing and SFT penalties into graded mandatory fees from April 1, 2026, aiming to reduce litigation and ease income tax compliance.
ICAI Special Examination June 2026 Announced for Foreign Accounting Body Members Under MRA/MoU
04 February 2026 at 08:25ICAI announces Special Examination for members of foreign accounting bodies under MRA/MoU. Exams from 15-19 June 2026 in Noida. Apply by 16 February 2026.
FAST-DS 2026: Proposal of One-Time Disclosure Scheme for Foreign Assets of Small Taxpayers
03 February 2026 at 09:11FAST-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.
Big Relief for Taxpayers: Criminal Liability Rationalised in Income Tax Act, 2025
03 February 2026 at 08:23Budget 2026 proposes major relief for taxpayers by reducing imprisonment, introducing graded penalties and decriminalising procedural offences under tax law.
Income Tax Act 2025 Amendment: Taxpayers Can File Updated Returns Even After Reassessment Notice
03 February 2026 at 08:23Budget 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.
Popular News
- CBDT Releases FAQs on Transition to Income Tax Act 2025 Effective 1st April 2026
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- Income Tax Refund Delays Rise Sharply, Finance Panel Raises Concern Over 27 Lakh Pending Cases
- CBDT Notifies Income Tax Rules 2026: Key Changes to Take Effect from 1st April
- GSTAT Issues New Filing Instructions for Appeals: Mandatory Documents & Pre-Deposit Rules Clarified
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