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.
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.
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06 February 2026 at 07:13Schedule XI of the Income-tax Act is being rationalised to remove outdated PF provisions and align with EPF laws.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.
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536 of the Income-tax Act, 2025 is proposed to be amended to tax deductions or excluded income allowed under the repealed Income-tax Act, 1961, even without violation of conditions, from AY 2026-27.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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