Income Tax Articles & Guides
Income tax rules, filing, AIS and the latest compliance changes, explained for businesses and professionals.
Rule 3 vs Rule 15: 7 Key Changes in Salary Perquisite Valuation from Tax Year 2026-27
Rule 15 of the Income-tax Rules, 2026 replaces Rule 3 from tax year 2026-27. Key changes for company cars, meal vouchers, gifts, education and employer loans.
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Arrest and Detention Removed as Modes of Income-tax Recovery: Rule 225 Amended
The Income-tax (Fourth Amendment) Rules, 2026 remove arrest and detention in prison as modes of recovering tax arrears under Rule 225, from 1 April 2026.
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ITR-BN Notified: New Block Assessment Return for Search and Requisition Cases Under the Income-tax Act, 2025
CBDT Notification 97/2026 inserts Form ITR-BN for block returns in search cases initiated on or after 1 April 2026. Tax is 60% of undisclosed income.
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ICAI 60 Tax Audit Limit: How the UDIN Ceiling Counts Reports Signed This Season
ICAI's 60 tax audit ceiling applies from 1 April 2026 and counts by signing date, so AY 2026-27 audit reports signed now count towards the FY 2026-27 limit.
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Compliance Calendar October–November 2026: GST, TDS/TCS, Tax Audit and ITR Due Dates
Key GST, TDS/TCS, tax audit and ITR due dates for October and November 2026, including the extended 21 October audit and 21 November ITR deadlines.
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CBDT Revises Form 161 for Penalty Waiver Under Section 440 of the Income-tax Act, 2025
Notification 134/2026 substitutes **Form 161 for penalty waiver** under Section 440(2). Misreporting cases can now apply by paying 100% or 120% additional tax.
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SFT-2517 and SFT-2518: Depositories and RTAs to Report Capital Gains Data for ITR Pre-Filling
CBDT has notified SFT-2517 for depositories and SFT-2518 for RTAs. Half-yearly reporting of capital gains for ITR pre-filling; first due 31 October 2026.
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Income Tax Department Verifies Suspicious Foreign Remittances: 394 Entities and 36 Form 15CB Certifiers
The Income Tax Department is verifying 394 entities and 36 professionals over suspicious foreign remittances and Form 15CB certificates. What CAs must check.
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Registered Valuers and Income-tax Practitioners: Deadline to Update Registration Extended to 31 March 2027
CBDT extends the deadline for existing valuers and income-tax practitioners to update their registration under sections 514 and 515 to 31 March 2027.
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Foreign Assets of Small Taxpayers Disclosure Scheme 2026: Declare by 31 December 2026
CBDT notifies Foreign Assets of Small Taxpayers Disclosure Scheme 2026 rules. Declarations due 31 December 2026, in two slabs: up to ₹1 crore or ₹5 crore.
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Form 98 Filing Procedure Notified: Statement of Form 97 Declarations Due by 31 October 2026
DGIT (Systems) notifies the Form 98 procedure for reporting Form 97 declarations. First statement due 31 Oct 2026, for declarations up to 30 September.
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Tax Audit Due Date Extended to 21 October 2026 and ITR Due Date to 21 November 2026 for AY 2026-27
The tax audit due date for AY 2026-27 is extended to 21 October 2026, and the ITR due date for audit cases to 21 November 2026, as per CBDT's press release.
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