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Tax

Since the new tax regime is now the default, taxpayers must compare both regimes before investing just to claim deductions.
Updated : Mar 25, 2026

Last days to save tax: What you may miss if you don’t act before March 31

According to experts, the biggest mistake people make every March is investing blindly under Section 80C without checking whether the old tax regime is actually beneficial for them.

The Union Budget 2026-27 presented on February 1 had proposed to tax buyback for all types of shareholders as capital gains.
Updated : Mar 25, 2026

Finance Bill amendments propose flat 12% surcharge on capital gains from buybacks

The Bill with 32 amendments approved by Lok Sabha, to be passed by Rajya Sabha

Like Form 16, Form 130 will also contain a detailed statement of salary income, tax deducted at source (TDS) and deposited, along with the deductions claimed.
Updated : Mar 25, 2026

You may not receive Form 16 anymore from your employer; here's why

Under the new Income-tax Rules, 2026, the government has proposed replacing Form 16 with a new Form 130, as part of a broader move toward a system-driven and standardised tax reporting framework.

The CBDT has notified the Income Tax Rules, 2026, which bring major changes to how salary income, allowances, deductions, and perquisites will be reported.
Updated : Mar 25, 2026

Attention taxpayers: Your salary structure may change from April 1 — Here’s why

From April 1, 2026, the new Income Tax Rules, 2026 may change how your salary is structured, even if your total CTC remains the same. With stricter valuation of perks, allowances, and employer-provided benefits, a larger part of your salary package could become taxable, affecting both take-home pay and tax liability.

From FY 2026–27, the 50% HRA exemption will apply to eight cities, with Bengaluru, Pune, Hyderabad, and Ahmedabad added to the metro list.
Updated : Mar 24, 2026

Old Tax Regime 2026: From April 1, HRA claims get stricter for taxpayers; here's how

Tax experts say the old regime remains relevant mainly because deductions like HRA are not available under the new tax regime, making it beneficial for employees who pay high rent.

Section 80C has been the most commonly used deduction provision, allowing taxpayers to reduce taxable income by investing in specified instruments.
Updated : Mar 24, 2026

Income Taxpayers Alert! Section 80C is going to change from April 1

Under the Income Tax Act, 2025, the popular Section 80C deduction of up to ₹1.5 lakh for investments such as PPF, ELSS, insurance, NSC and home loan principal will move to Section 123, with eligible instruments listed in Schedule XV, while the deduction limit remains unchanged.

The Income-tax Act, 1961 had over 800 sections, while the Income Tax Act 2025 has fewer sections with simpler language. The new law mainly restructures the legislation instead of changing the tax system.
Updated : Mar 24, 2026

New Income Tax rules from April 1: How to compare old and new sections

The Income Tax Department has introduced an online comparison utility that lets taxpayers check old and new provisions side-by-side before filing returns. The Income Tax Department has introduced an online comparison utility that lets taxpayers check old and new provisions side-by-side before filing returns.

The CBDT has notified the Income Tax Rules, 2026, which bring major changes to how salary income, allowances, deductions, and perquisites will be reported.
Updated : Mar 24, 2026

New Income Tax Rules 2026: What changes from April 1, 2026, for salaried class

The Income Tax Act, 2025, will come into effect for income earned from the financial year 2026–27 onwards, allowing a clear transition with no overlap between the old and the new tax laws. According to tax experts, any amendments made through the Finance Bill 2026 under the current Income Tax Act will continue to apply for income tax return filing in 2026.

Taxpayers who have chosen the Old Tax Regime must complete all investments eligible for deduction under Section 80C before March 31 to claim the benefit for the current financial year, i.e. FY2025-26.
Updated : Mar 24, 2026

From PAN to PPF: Complete these urgent financial tasks before March 31

Taxpayers and investors should note that any payment, investment, or declaration made after this date will be counted in the next financial year, which means missing out on deductions, exemptions, or refunds for FY 2025–26.

The rules, effective April 1, 2026, raise PAN reporting limits for key transactions, expand perquisite thresholds, and others.
Updated : Mar 21, 2026

I-Tax Act, 2025 - New tax rulebook from April 1: What really changes for salaried taxpayers

The Central Board of Direct Taxes (CBDT) has notified the Income-tax Rules, 2026, to implement the Income-tax Act, 2025, introducing higher HRA benefits for salaried taxpayers while making disclosure of the landlord–tenant relationship mandatory.

Tax experts say reviewing finances before year-end helps optimise tax, claim deductions, and avoid penalties or scrutiny.
Updated : Mar 20, 2026

Tick-tock to March 31: Tax-saving moves you shouldn’t miss before FY26 ends

The last few days of the financial year are crucial, as several deductions, exemptions, and statutory requirements are available only if the required payments, investments, or filings are completed within the prescribed timelines.

One of the most notable changes is the introduction of a single “Tax Year”, replacing the earlier distinction between the “previous year” and “assessment year”.
Updated : Mar 15, 2026

Tax for you: Major tax changes taking effect from 1 April 2026 under new Income-tax Act, 2025

According to CA Dr Suresh Surana, the Income-tax Act, 2025 (ITA 2025) aims to simplify compliance, rationalise procedures and align the tax framework with current economic realities. Several key changes will directly affect individuals, businesses, investors and companies from the new tax year.

Experts that advance tax is not limited to businesses or professionals and may also apply to salaried individuals if they have additional income.
Updated : Mar 14, 2026

Advance tax last instalment due on March 15, 2026: Can you pay tax on a Sunday?

With the deadline for the final advance tax instalment on March 15 approaching, taxpayers are rushing to clear their dues before the end of the financial year. Since the due date falls on a Sunday, experts say payments can still be made online without any disruption.

Tax benefits under NPS are available in three parts — Section 80CCD(1), Section 80CCD(1B), and Section 80CCD(2).
Updated : Mar 11, 2026

NPS and tax 2026: This hack can give you extra ₹50,000 deduction, works in both tax regimes

Contribution to the NPS remains one of the few tax-saving options available under both the old and the new tax regimes, though the benefits are higher in the old regime.

Advance tax is a system under which taxpayers pay tax on their estimated annual income in instalments during the financial year instead of making a lump-sum payment at the end.
Updated : Mar 11, 2026

Advance tax deadline on March 15: Who must pay, penalty rules, and how to avoid interest charges

The rule applies to individuals, professionals, freelancers, and businesses whose total tax liability exceeds ₹10,000 after accounting for tax deducted at source (TDS) or tax collected at source (TCS). Missing the deadline can result in interest penalties under the Income Tax Act, making timely payment essential for proper tax compliance.

Under the revised list of commonly used forms, nearly 30 forms have been renumbered, requiring taxpayers, chartered accountants, companies and trusts to use the updated formats going forward.
Updated : Mar 11, 2026

Income Tax Rules 2026: Govt renumbers key forms, Tax Audit now Form 26, PAN, TDS, ITR forms changed

One of the most significant changes is in Tax Audit reporting, where the earlier Forms 3CA and 3CB have now been replaced by Form 26. The new form reportedly contains 55 segment-wise clauses, indicating a more detailed reporting structure.

Tax experts say restaurants should carefully check billing software, POS data and reported turnover.
Updated : Mar 10, 2026

Restaurant tax probe widens, CBDT flags mismatches in 1.77 lakh cases, sends advisories

The tax department conducted an investigation in November 2025 into tax evasion patterns in the restaurant industry. The release stated that several establishments were found to be deleting bulk bills and making software modifications to suppress actual sales, resulting in under-reporting of turnover in income tax filings.

Sections 3 and 4 of the Black Money Act allow tax to be levied on the fair market value of undisclosed foreign assets in the year they are detected, instead of the year of acquisition, increasing liability.
Updated : Mar 7, 2026

Budget 2026: NRIs get relief window to disclose overseas assets under Black Money Act

The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, aims to provide a calibrated settlement route for individuals facing potential action under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

Rental income may be treated as business income instead of house property income when the activity is commercial in nature or the taxpayer is actively engaged in real estate as a business.
Updated : Mar 7, 2026

House Property vs business income: How tax classification can change real estate returns

The way rental income is classified under the Income Tax Act can significantly change the tax liability for real estate investors. Experts say the difference between income from house property and business income can affect deductions, tax rates and overall returns.

Documents show the GST department rejected a registration application filed after a sole proprietor’s death, citing missing details on prior GST records and succession papers.
Updated : Mar 7, 2026

GST registration rejection sparks concerns over procedural hurdles, says tax expert

A GST registration rejection involving a legal heir applying after the death of a sole proprietor has highlighted procedural hurdles faced by small taxpayers. Tax expert CA Himank Singla said the case shows the need for clearer guidelines and more consistent verification by GST authorities.

The ruling highlights the importance of documentation in property transactions involving demolition or structural changes.
Updated : Mar 6, 2026

Selling land after demolishing structure? ITAT says costs before property sale may qualify as LTCG deduction

Property sellers locked in disputes over capital gains calculations may find some relief from a recent ruling by the Hyderabad Bench of ITAT. The tribunal observed that expenses incurred to demolish an existing structure on land before its sale could qualify for deduction while computing Long Term Capital Gains under Section 48 of the Income Tax Act.

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