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Income Tax News & Updates

Track Income Tax developments affecting individuals, professionals and businesses in one focused hub. Coverage includes CBDT circulars and notifications, ITR and e-filing changes, TDS and TCS requirements, refunds, filing deadlines, notices and reassessment, tax regimes, capital gains and Budget-related amendments. The latest published News appears first, with dates taken directly from each story. Use the coverage labels to understand the subjects followed here; they organise this page without creating separate thin archives or replacing the primary Income Tax authority URL.

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Latest News & Updates

Income Tax: Intraday Trading & Share LTCG Require ITR-3

Intraday Trading and Share LTCG Require ITR-3, Separate Tax Treatment

14th Aug 2026

Intraday trading is speculation business income and delivery-based share gains are long-term capital gains; together they need ITR-3. Sections 113 and 198 of the Income-tax Act, 2025 explained for Tax Year 2026-27.

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Income Tax: AY 2026-27 Tax Audit Guide Focuses on Sections 44AB, 44AD and 44ADA

AY 2026-27 Tax Audit Guide Focuses on Sections 44AB, 44AD and 44ADA

14th Aug 2026

Tax audit limits for AY 2026-27 under Sections 44AB, 44AD and 44ADA, the due date, and how audit moves to Section 63 and Form No. 26 under the Income-tax Act, 2025.

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Supreme Court: IBC Cannot Revive Time-Barred Debts, Supreme Court Rules

IBC Cannot Revive Time-Barred Debts, Supreme Court Rules

14th Aug 2026

In Srinivasa Reddy Velagala v. Sravanthi Infratech (2026 INSC 835), the Supreme Court held that a subsisting EPC contract does not keep limitation alive and set aside admission of a time-barred Section 9 IBC application.

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New TDS Forms for Tax Year 2026-27: Form 138 and Form 140 Replace 24Q and 26Q

New TDS Forms for Tax Year 2026-27: Form 138 and Form 140 Replace 24Q and 26Q

14th Aug 2026

Form 138 replaces Form 24Q and Form 140 replaces Form 26Q for TDS statements from Tax Year 2026-27. Due dates, filing steps and the now-enabled correction facility explained.

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Revised ITR Deadline for AY 2026-27 Is 31 March 2027: Fee After 31 December Explained

Revised ITR Deadline for AY 2026-27 Is 31 March 2027: Fee After 31 December Explained

14th Aug 2026

Income Tax Department guidance confirms that revised returns for AY 2026-27 can be filed up to 31 March 2027, with a fee applying to revisions filed after 31 December 2026.

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TDS Under the Income Tax Act, 2025: New Section Numbers, Form 141 and Form 168 Require System Changes for FY 2026-27

TDS Under the Income Tax Act, 2025: New Section Numbers, Form 141 and Form 168 Require System Changes for FY 2026-27

13th Aug 2026

From 1 April 2026, TDS moves to sections 392 and 393 of the Income-tax Act, 2025, Form 141 replaces Forms 26QB to 26QE, and Form 168 carries tax year 2026-27 credits. Rates are unchanged, but old section numbers can cause return errors.

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ITR-2 for AY 2026-27: New FAQ Clarifies Two Self-Occupied Houses, Secondary Address and Revised-Return Fee

ITR-2 for AY 2026-27: New FAQ Clarifies Two Self-Occupied Houses, Secondary Address and Revised-Return Fee

13th Aug 2026

The ITR-2 FAQs for AY 2026-27 remove the conditions for two self-occupied houses, add a secondary address field, drop the 23 July 2024 capital gains split and bring a section 234I fee for late revised returns.

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ITR-4 Due Date for AY 2026-27 Is 31 August 2026: What Presumptive Taxpayers Should Check Before Filing

ITR-4 Due Date for AY 2026-27 Is 31 August 2026: What Presumptive Taxpayers Should Check Before Filing

12th Aug 2026

The Income Tax Department set 31 August 2026 as the ITR-4 due date for AY 2026-27. Eligibility, exclusions, 44AD and 44ADA limits, new fields and deduction disclosures explained.

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Income Tax Portal Enables AY 2026-27 ITR-5, ITR-6 and ITR-7 Utilities

Income Tax Portal Enables AY 2026-27 ITR-5, ITR-6 and ITR-7 Utilities

12th Aug 2026

Online and offline ITR-5, ITR-6 and ITR-7 utilities for AY 2026-27 went live between 5 and 20 August 2026; CBDT Notification No. 97/2026 separately introduces Form ITR-BN for block assessments in search cases.

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TDS/TCS Correction Statements for Tax Year 2026-27 to Be Enabled Shortly

TDS/TCS Correction Statements for Tax Year 2026-27 to Be Enabled Shortly

12th Aug 2026

The Income Tax e-Filing portal has now enabled TDS/TCS correction statements for Tax Year 2026-27. Deductors and collectors should reconcile PAN, challan and transaction data before filing.

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