GST, TDS & Income Tax UpdatesPage 2 of 3
Notifications, circulars and due-date changes as they are published — each one summarised in plain English and linked to the official source.
57th GST Council Meeting: Arrest Powers Removed, Faster Refunds, ITC and Registration Reforms
The 57th GST Council meeting on 8 October 2026 recommended removing arrest powers, auto refunds, wider ITC, a Rs 10,000 notice threshold and late fee relief.
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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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TDS Returns Can Now Be Filed Online on TRACES from Q2 of Tax Year 2026-27
TRACES now lets deductors file TDS/TCS returns (Forms 138, 140, 143, 144) online from Q2 of Tax Year 2026-27, without the e-filing portal or an FVU file.
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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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GST Portal Now Allows Appeals Against NIL or Zero Demand Orders in Form GST APL-01
GSTN has removed the portal validation that blocked appeals against demand orders showing NIL or zero demand. Taxpayers can now file Form GST APL-01 in such cases.
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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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No TAN Needed for TDS on Property Bought from NRIs: Form 141 Schedule E from 1 October 2026
From 1 October 2026, resident individuals and HUFs buying property from a non-resident can pay and report TDS using PAN in Form 141 Schedule E, without a TAN.
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PF Wage Ceiling Raised to ₹25,000 from 17 September 2026: Latest PF Changes Under EPF Scheme 2026
EPFO wage ceiling change 2026: PF wage ceiling rises from ₹15,000 to ₹25,000 from 17 Sep 2026. New PF, EPS and EDLI amounts and what employers must do.
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TRACES Enables Online Challan Correction for Tax Year 2026-27: Fix Wrong Head, TAN or PAN
TRACES now offers online challan correction for Tax Year 2026-27. Deductors can fix a wrong year, major or minor head, wrong TAN, or PAN used instead of TAN.
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