Income Tax Articles

From Structured Enforcement to Procedural Integrity - Completing the Prosecution Framework - Concluding Part 3

Raj Jaggi 18 February 2026 at 10:15

Finance Bill, 2026 amends Sections 480-485 and 494 of the Income Tax Act, 2025, introducing graded punishments, stronger safeguards for verification integrity, accountability for repeat offences and confidentiality protection. Effective 1 April 2026.

Draft Income Tax Rules 2026: Major PAN Quoting Changes Explained

efiletax 18 February 2026 at 09:43

The Central Board of Direct Taxes (CBDT) has released the Draft Income Tax Rules 2026, proposing higher PAN thresholds for cash deposits, withdrawals, property deals, and vehicle purchases. The new rules aim to reduce compliance burden while aligning with the Income Tax Act, 2025 effective April 1, 2026.

Tax Calculation Slabs For FY 2025-26 (AY 26-27)

Mitali 17 February 2026 at 13:06

Updated Tax Calculation Slabs For FY 25–26. Check slab-wise tax structure and key benefits before filing AY 2026-27 return.

From Rigour To Reason: Decriminalisation Of Tax Offences Under The IT Act, 2025 Through Finance Bill, 2026 - Part 2

Raj Jaggi 17 February 2026 at 09:26

Finance Bill 2026 reforms Sections 477-479 of the Income-tax Act, 2025 by introducing graded punishment for TCS default, tax evasion, and wilful non-filing of returns. Explore the new prosecution framework effective 1 April 2026.

The Vanishing Shield: Is your Home Loan Interest losing its Tax Power?

Marimganti Tarun B.com,FCMA 17 February 2026 at 07:01

Home loan tax benefits under Section 24(b) are fading under the New Tax Regime (Section 115BAC). Understand how the loss of interest deduction impacts salaried taxpayers, the break-even point between old vs new regime and who stands to lose the most before filing your return.

TDS and TCS: The New Shields and Arrows of the Taxpayer

CA Umesh Sharma 17 February 2026 at 07:00

Union Budget 2026 proposes major TDS and TCS reforms under the new Income Tax Act 2025. From PAN-based property TDS and digital certificates to TCS rationalisation and LRS relief, here's a complete breakdown of taxpayer “shields” and compliance "arrows."

MAT Credit - Budget Implications

Venkat Raj 17 February 2026 at 07:00

A comprehensive analysis of MAT u/s 115JB, its historical evolution, MAT credit mechanism, Budget 2026 changes, rate reduction to 14%, restrictions on credit utilisation

TAN Exemption for Property Buyers: Relief for Resident Buyers u/s 397

Poojitha Raam Vinay 16 February 2026 at 15:55

Budget 2026 proposes Section 397 to simplify property TDS compliance by removing the TAN requirement for resident buyers under Section 194-IA. Know eligibility, benefits, impact, and filing rules.

From Rigour To Reason: Decriminalisation Of Tax Offences Under The IT Act, 2025 Through Finance Bill, 2026 - Part 1

Raj Jaggi 16 February 2026 at 09:24

The Finance Bill, 2026 proposes major amendments to prosecution provisions under Sections 473-476 of the Income-tax Act, 2025, introducing graded punishment, decriminalisation measures, and proportionate sentencing to shift tax enforcement from rigid penalties to a fair, balanced compliance framework effective April 1, 2026.

Finance Bill 2026 Proposes Section 147A to Clarify Assessing Officer Jurisdiction for Notices u/s 148 & 148A

CA Varun Gupta 16 February 2026 at 08:43

Understand proposed Section 147A in Finance Bill 2026, a retrospective clarification on who qualifies as "Assessing Officer" for Sections 148 & 148A notices, addressing JAO vs NaFAC/AU jurisdiction and ensuring legal alignment.