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ICAI Introduces UDIN Ceiling for Tax Audit Assignments from FY 2026-27

   19 May 2026 at 09:39

ICAI has introduced a ceiling of 60 Tax Audit assignments per member for UDIN generation effective from April 1, 2026. Read the complete FAQs, applicable forms, counting rules, revised audit treatment and key compliance details.

Posted in Income Tax |   1065 Views


Form 35: New Tax Form for Offshore Banking Units Under IT Act 2025

   19 May 2026 at 09:37

Form 35 under the Income Tax Act 2025 is mandatory for Offshore Banking Units and IFSC entities claiming deductions. Check eligibility, due date, filing process, required documents and FAQs.

Posted in Income Tax |   51 Views


Centre Revises Excise Duty Rates on Petroleum Products Effective from May 16, 2026

   19 May 2026 at 09:37

The Finance Ministry has revised central excise duty rates through Notification Nos. 22/2026 and 23/2026-Central Excise effective May 16, 2026. Check revised per litre rates, applicability and key implications.

Posted in Excise |   33 Views


Form 154 Filing Mandatory for Certain Non-Domiciled Individuals Before Leaving India

   18 May 2026 at 09:16

The Income Tax Department has clarified the process for obtaining ITCC through Form 154 and Form 155 under Income Tax Rules 2026. Here's who must file, due dates, documents required and compliance rules for non-domiciled persons leaving India.

Posted in Income Tax |   1734 Views


No Foreign Travel Tax Planned: PM Modi Dismisses Viral Media Report

   18 May 2026 at 09:16

PM Modi has dismissed reports claiming the government plans to impose a cess, tax or surcharge on foreign travel. He reiterated the govt's focus on Ease of Doing Business and Ease of Living, while the media outlet later withdrew the inaccurate report.

Posted in Income Tax |   1851 Views


Form No. 124 Under New Tax Rules: What Employees Must Submit to Reduce Salary TDS

   18 May 2026 at 09:16

Learn everything about Form No. 124 under the Income-tax Act, 2025. Check FAQs on HRA, LTA, home loan interest, investment deductions, PAN requirement, online submission process and employee TDS benefits.

Posted in Income Tax |   3822 Views


Form 31 Under Income Tax Act 2025 Mandatory for Claiming Rent Deduction Without HRA

   16 May 2026 at 10:34

Form 31 under the Income-tax Act, 2025 is mandatory for claiming deduction under Section 134 on rent paid without HRA. Check eligibility, due date, deduction limit, FAQs and filing details.

Posted in Income Tax |   2358 Views


Form No 27 Under IT Act 2025: Mandatory Reporting for Dissolution or Reconstitution of Firms

   16 May 2026 at 10:34

Form No. 27 under the Income-tax Act 2025 made mandatory for specified entities in dissolution or reconstitution cases. Check filing rules, due date, valuation requiremen and key FAQs.

Posted in Income Tax  1 comments |   3999 Views


GST Update 2026: Finance Ministry Revises Chandigarh Authority Members Under UTGST Rules

   16 May 2026 at 10:34

Ministry of Finance issues Notification No. 2/2026-UTT amending Chandigarh GST authority under UTGST rules. Check new appointments, key changes and effective date.

Posted in GST |   171 Views


Form 71 Under Income Tax Act 2025: FAQs, Filing Process, Eligibility, Due Date and Key Compliance Details

   15 May 2026 at 09:42

Understand Form 71 under Income Tax Act 2025 including filing procedure, eligibility, due date, mandatory audit requirements and tax exemption conditions.

Posted in Income Tax |   2814 Views



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