Penalty Converted into Fee for Technical Defaults under Income Tax Act, 2025
Union Budget 2026–27 replaces penalties with fixed fees for technical and procedural defaults under the Income Tax Act, 2025. This reform reduces harassment, brings certainty, and promotes trust-base…
Read full update →STT Increased on Futures & Options: What Traders Need to Know
Union Budget 2026–27 increases Securities Transaction Tax (STT) on Futures & Options to curb excessive speculative trading and en…
Immunity from Prosecution for Small Foreign Assets up to ?20 Lakh
Union Budget 2026–27 grants immunity from prosecution for resident individuals holding undisclosed foreign assets up to ?20 lakh,…
New Income Tax Rules & Simplified Return Forms Announced under Income Tax Act, 2025
The Union Budget 2026–27 announces simplified Income Tax Rules and redesigned return forms under the Income Tax Act, 2025, effect…
Lower / Nil TDS Certificate Now Fully Automated under Income Tax Act, 2025
The Union Budget 2026–27 introduces a fully automated, rule-based system for obtaining Lower or Nil TDS Certificates under the In…
Form 15G / 15H Filing through Depositories: Major Ease for Investors
Union Budget 2026–27 allows filing of Form 15G and Form 15H through depositories, eliminating the need to submit declarations sep…
Updated Returns Allowed Even After Reassessment Begins: Big Relief for Taxpayers
Union Budget 2026–27 expands the scope of updated returns by allowing taxpayers to file an updated return even after reassessment…
MAT Credit Set-off Restricted under Income Tax Act, 2025: What Companies Must Know
Union Budget 2026–27 restricts the set-off of brought forward MAT credit for companies shifting to the new tax regime. MAT is mad…