CAclubindia News
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.
TAN Exemption for Resident Individuals & HUFs on Immovable Property Purchases from 1st Oct 2026
03 February 2026 at 08:23Resident 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 Application for Lower or Nil TDS Certificates from 1st April 2026
03 February 2026 at 08:23Electronic 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.
Updated Return Rules Amended: Filing of Loss-Adjusted Returns Allowed from FY 2026-27
02 February 2026 at 10:12Finance 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.
Revised ITR Filing Period Extended from 9 to 12 Months for FY 2026-27
02 February 2026 at 10:04Taxpayers 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.
Income Tax Act 2025: ITR Filing Deadlines Rationalised for FY 2026-27
02 February 2026 at 09:55The 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.
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