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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

ICSI Salem Chapter Holds Fourth Residential Conference

ICSI Salem Chapter Holds Fourth Residential Conference

15th Aug 2026

The Salem Chapter of ICSI has held its fourth residential conference, marking the latest professional engagement initiative by the local chapter.

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Income Tax: August 31 Flagged as Crucial Income-Tax Date for Some Taxpayers

August 31 Flagged as Crucial Income-Tax Date for Some Taxpayers

15th Aug 2026

31 August 2026 was the ITR due date for AY 2026-27 for business and professional taxpayers not requiring audit, and their partners, after the Finance Bill, 2026 split them from the 31 July group.

Income Tax

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Section 54F Focus Turns to Stamp Duty and Housing Timelines

Section 54F Focus Turns to Stamp Duty and Housing Timelines

15th Aug 2026

A 13 August 2026 explainer on stamp duty and the 1, 2 and 3-year house rules under section 54F. From tax year 2026-27 the relief sits in section 86 of the Income-tax Act, 2025; here are its verified conditions.

Income Tax

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Delhi High Court: Eligible Export Unit’s Loss Must Count in Overall Business Income

Delhi High Court: Eligible Export Unit’s Loss Must Count in Overall Business Income

15th Aug 2026

Delhi High Court in Aricent Technologies Holding v. DCIT (ITA 1015/2019, 11 August 2026) held that a section 10B eligible unit's loss of Rs. 1.34 crore can be set off against profits of other units and carried forward.

Income Tax

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Income Tax: Direct Tax Collections Reach ₹23.40 Lakh Crore in FY 2025-26; ITR Filers Rise to 8.67 Crore

Direct Tax Collections Reach ₹23.40 Lakh Crore in FY 2025-26; ITR Filers Rise to 8.67 Crore

15th Aug 2026

Net direct tax collections were Rs 23,40,373 crore (provisional) in FY 2025-26 and ITR filers rose to 8.67 crore, according to the Finance Ministry's reply to Lok Sabha Unstarred Question No. 3502 on 10 August 2026.

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New Tax Laws Put Small Taxpayers Between Immunity and 100% Penalty

New Tax Laws Put Small Taxpayers Between Immunity and 100% Penalty

15th Aug 2026

FAST-DS 2026 lets small taxpayers declare foreign assets up to Rs 1 crore at 30% tax plus 100% penalty, or pay a Rs 1 lakh fee for assets up to Rs 5 crore, in return for Black Money Act immunity. Window closes 31 December 2026.

Income Tax

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CBDT: Issues FAQs on Section 536 Transition Provisions

CBDT Issues FAQs on Section 536 Transition Provisions

15th Aug 2026

CBDT's 23 FAQs on Section 536 of the Income-tax Act, 2025 tell CAs and taxpayers when the 1961 Act still governs summons, searches, recovery, penalties, trust approvals and lower TDS certificates.

Income Tax

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Tribunal Reforms Bill 2026 targets greater independence and transparency

Tribunal Reforms Bill 2026 targets greater independence and transparency

14th Aug 2026

The Tribunals Reforms Bill, 2026, passed by Parliament in August 2026, creates a National Tribunals Commission to run selections and oversight for 16 tribunals including ITAT, CESTAT and NCLAT.

Income Tax

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TDS on Rent for FY 2026-27: Limits and Rates in Focus

TDS on Rent for FY 2026-27: Limits and Rates in Focus

14th Aug 2026

TDS on rent from FY 2026-27 falls under Section 393(1) of the Income-tax Act, 2025: 2% or 10% above Rs 50,000 a month, with a separate 2% route for individuals and HUFs.

Income Tax

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CAG flags delays of up to 1,398 days under Direct Tax Vivad Se Vishwas scheme

CAG flags delays of up to 1,398 days under Direct Tax Vivad Se Vishwas scheme

14th Aug 2026

CAG Report No. 8 of 2026 found delays of up to 1,398 days in Consequential Effect Orders and ₹423.47 crore of wrongly computed amounts under the Vivad se Vishwas Scheme, 2020.

Income Tax

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