Quick answer: The tax audit due date for AY 2026-27 (FY 2025-26) is 30 September 2026. As of 19 September 2026, the CBDT has not issued any notification extending it, so tax audit reports must still be uploaded by 30 September. The audit-case ITR is due on 31 October 2026. Transfer pricing cases have until
Tax Audit Due Date AY 2026-27: Key Changes, Checklist and Extension Status Read More »
Section 270A Penalty for Misreporting Income: How a Recent ITAT Ruling Cut a 200% Penalty to 50% Key takeaway: Not every case of unreported income in an Income Tax Return (ITR) automatically attracts the steep 200% “misreporting” penalty under Section 270A of the Income-tax Act, 1961. In a ruling dated 20 August 2026 (Tasneem Feroz
NRO to NRE Transfer Rules 2026: How Much Money Can an NRI Transfer? NRO to NRE transfer is permitted for NRIs, but it is subject to the applicable FEMA conditions, payment of taxes and the overall USD 1 million per financial year limit. The limit applies to the eligible NRO funds transferred to the NRE
NRO to NRE Transfer Rules 2026: How Much Money Can an NRI Transfer? Read More »
EPF Wage Ceiling Increased from ₹15,000 to ₹25,000: New EPF Rules, Effective Date and Who Will Benefit The Government has approved a major change in the EPFO wage ceiling. The Union Cabinet has approved increasing the wage ceiling for mandatory coverage under the Employees’ Provident Fund Organisation (EPFO) from ₹15,000 to ₹25,000 per month. The
UPI Charges Explained: Who Pays the New 0.4% Charge on Payments Above ₹2,000, and Who’s Exempt The government has ended nearly six years of fully free UPI payments by notifying a Merchant Discount Rate (MDR)/UPI Charges on select person-to-merchant (P2M) transactions above ₹2,000. The new framework, cleared under the Payment and Settlement Systems Act, 2007
Form 121 FY 2026-27: New Form Replacing 15G & 15H, Eligibility & TDS Rules If you are searching for Form 15G or Form 15H for FY 2026-27, there is an important change you should know. From 1 April 2026, the Income-tax Act, 2025 and Income-tax Rules, 2026 have introduced a single Form 121 in place
Form 121 FY 2026-27: New Form Replacing 15G & 15H, Eligibility & TDS Rules Read More »
Tax Audit Late Fee FY 2025-26: Is ₹75,000 Applicable or Not for FY 2025-26 (AY 2026-27)? Over the last few weeks, a single line has been circulating across WhatsApp groups, social media, and even some professional blogs: “From now on, a late tax audit report will cost you ₹75,000, and beyond one month, ₹1,50,000!” This
Tax Audit Late Fee FY 2025-26: Is ₹75,000 Applicable or Not for FY 2025-26 (AY 2026-27) Read More »
CBDT Notifies SFT Reporting Rules for Mutual Fund Transactions by RTAs The Central Board of Direct Taxes (CBDT) has introduced detailed guidelines for reporting mutual fund transactions under Statement of Financial Transactions (SFT) by Registrar and Transfer Agents (RTAs). The framework has been notified under Section 508(1) of the Income-tax Act, 2025, read with Rule
CBDT Notifies SFT Reporting Rules for Mutual Fund Transactions by RTAs Read More »
Is ₹12 Lakh Tax Free in Tax Year 2026-27? STCG & LTCG Explained The statement “No income tax up to ₹12 lakh” has become one of the most searched tax questions after the changes introduced for the new tax regime. But there is an important catch. If your total income is below ₹12 lakh, does
Is ₹12 Lakh Tax Free in Tax Year 2026-27? STCG & LTCG Explained Read More »
The National Payments Corporation of India (NPCI) has introduced UPI Tap & Pay, a new contactless payment facility designed to make UPI transactions faster and more convenient. The feature was unveiled by RBI Governor Sanjay Malhotra at the Global Fintech Fest (GFF) 2026 in Mumbai on September 10, 2026. What is UPI Tap & Pay?
NPCI Launches UPI Tap & Pay: Pay by Tapping Your Phone Without Opening UPI App Read More »
