CAclubindia News
NPO Merger Rules Amended: New Section 354A to Exempt Accreted Income Tax from April 2026
07 February 2026 at 07:52New Section 354A under Finance Bill 2026 clarifies tax treatment on accreted income for mergers of registered non-profit organisations with similar objects.
No TDS on Interest Paid to Co-operative Banks from 1st April 2026
07 February 2026 at 07:52Budget 2026 proposes no TDS on interest paid to co-operative banking societies, aligning Section 393(4) with the Income-tax Act, effective April 2026.
GST Portal Major Update: 'Additional Notices' Merged with Notices & Orders
06 February 2026 at 09:11GSTN 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.
Income Tax Changes in Provident Funds: Schedule XI Rationalised from 1st April 2026
06 February 2026 at 07:13Schedule XI of the Income-tax Act is being rationalised to remove outdated PF provisions and align with EPF laws.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.
Buyback of Shares to Be Taxed as Capital Gains from FY 2026-27
06 February 2026 at 07:12From 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.
Capital Gains Exemption on Sovereign Gold Bonds Tightened from AY 2026-27
06 February 2026 at 07:11The 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.
Interest Deduction on Dividend Income to Be Disallowed Under IT Act 2025 from April 2026
06 February 2026 at 07:10Interest expenditure will no longer be allowed as a deduction against dividend and mutual fund income under Section 93 from April 2026.
Belated Return Filing Now Allowed for Registered NPOs from AY 2026-27
06 February 2026 at 07:10Amendment 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.
Section 536 Amendment: Past Deductions to Be Treated as Income from AY 2026-27
05 February 2026 at 07:23Section 536 of the Income-tax Act, 2025 is proposed to be amended to tax deductions or excluded income allowed under the repealed Income-tax Act, 1961, even without violation of conditions, from AY 2026-27.
TDS/TCS Guidelines to Become Binding on Tax Authorities and Deductors from April 2026
05 February 2026 at 07:23TDS and TCS guidelines issued under section 400(2) to be made binding on tax authorities and deductors from 1 April 2026.
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