Day: February 2, 2026

Clipped from: https://www.taxscan.in/top-stories/cash-payment-for-joint-flat-bought-with-wife-explained-through-bank-records-itat-deletes-525-lakh-income-tax-addition-1442392?TRN300=SekGznSUsaDlKvEVxcwMCKGGasJUGdMKvvEXSGPxgjGMVUfSyMcBzIURBMcAch&LKD333=3385633 ITAT found merit in the appellant’s argument and deleted tax addition. Bank records show that cash payment was made to purchase a flat.

Clipped from: https://www.taxscan.in/top-stories/small-taxpayers-to-get-lower-nil-tds-certificates-without-applications-to-assessing-officer-union-budget-2026-1442586?TRN300=SebWJnSDsAuRKvvwGBAMCbGGacJdwuMkveGwbAqXWjhMEUFSYMCkZyDPbMCASH&LKD333=3387288 The proposal aims to introduce a rule-based, automated system for granting lower or nil TDS certificates to eligible small taxpayers. The Union Budget

Clipped from: https://www.taxscan.in/top-stories/budget-2026-itr-due-dates-revised-for-all-taxpayer-categories-1442591?TRN300=SebWJnSDsAuRKvvwGBAMCbGGacJdwuMkveGwbAqXWjhMEUFSYMCkZyDPbMCASH&LKD333=3387298 Budget 2026 revises and legally fixes income tax return due dates for all taxpayer categories, ranging from July 31 to November 30. The

Clipped from: https://www.taxscan.in/top-stories/budget-2026-taxpayers-allowed-to-file-updated-income-tax-returns-even-after-reassessment-begins-1442589?TRN300=SebWJnSDsAuRKvvwGBAMCbGGacJdwuMkveGwbAqXWjhMEUFSYMCkZyDPbMCASH&LKD333=3387291 Budget 2026 allows taxpayers to file updated income tax returns even after reassessment proceedings begin, subject to payment of additional tax and without

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/why-sitharamans-ninth-budget-chose-continuity-over-courage/articleshow/127847311.cms Synopsis Nirmala Sitharaman’s ninth budget emphasized continuity, focusing on GDP growth and increased capital expenditure. While fiscal consolidation continues slowly, the budget introduced

Clipped from: https://www.financialexpress.com/money/income-tax-slabs-union-budget-2026-live-updates-check-new-revised-income-tax-slabs-rates-old-tax-regime-calculator-for-fy-2026-27-4126221/ Go to Live Updates Income Tax Slab Rates for FY 2026-27 | Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman presented her 9th straight budget

Clipped from: https://www.financialexpress.com/money/budget-2026-fm-sitharaman-pushes-revised-itr-filing-deadline-check-new-date-here-4126867/ In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced a three-month extension for filing belated and revised Income Tax

Clipped from: https://www.financialexpress.com/money/fm-announces-new-income-tax-law-roll-out-date-your-itr-forms-and-filing-method-are-about-to-change-4126933/ Finance Minister Nirmala Sitharaman announced that the new Income Tax Act, 2025 will come into force from April 1, 2026, replacing the six-decade-old

Clipped from: https://www.financialexpress.com/money/10-big-income-tax-changes-in-budget-new-itr-filing-deadline-200-pc-penalty-on-misreporting-income-and-more-4127024/ From the rollout of the Income Tax Act, 2025 to extended deadlines, foreign asset disclosures, and changes impacting investors, here are the top

Clipped from: https://www.financialexpress.com/money/income-tax-misreporting-income-will-lead-to-200-penalty-under-tax-new-law-4127147/ Union Budget 2026–27 brings sweeping changes to tax misreporting rules, extending immunity from penalty and prosecution, lowering tax rates on unexplained income, and

Clipped from: https://www.financialexpress.com/money/budget-2026-may-hurt-small-investors-more-than-they-realise-5-key-changes-explained-4127454/ Budget 2026 has been presented as a people-friendly and reform-oriented Budget, with the government stressing ease of compliance and long-term financial stability. For

Clipped from: https://www.financialexpress.com/money/tds-made-easy-for-small-taxpayers-4127725/ The deadline to file revised returns has been extended from December 31 to March 31 of the following year. This proposal is important

lipped from: https://www.financialexpress.com/money/tax-buoyancy-lowest-since-covid-4127896/ At Rs 44.04 lakh crore, gross tax revenue target modest; strategic sectors get customs duty relief India’s Budget 2026-27 projects gross tax revenue

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/why-sitharamans-ninth-budget-chose-continuity-over-courage/articleshow/127847311.cms Synopsis Nirmala Sitharaman’s ninth budget emphasized continuity, focusing on GDP growth and increased capital expenditure. While fiscal consolidation continues slowly, the budget introduced