Income Tax Slabs Unchanged for FY 2026-27
Finance Minister Nirmala Sitharaman has kept income tax slabs unchanged for FY 2026-27 under both old and new regimes. New regime remains default with basic exemption at ₹4 lakh.
Category : GST & Taxation
ITR Revision Deadline Extended to March 31 in Budget 2026
Finance Minister Nirmala Sitharaman announces extension of revised ITR filing deadline from Dec 31 to March 31 in Union Budget 2026-27. New Income Tax Act 2025 to take effect from April 2026 with staggered deadlines for different taxpayer categories.
Budget 2026: Automated Tax System, Lower TCS Rates
Finance Minister Nirmala Sitharaman announced taxpayer-friendly measures in FY27 Budget including automated scheme for small taxpayers, reduced TCS rates on overseas expenses, and extended return filing deadlines.
Budget 2026: MACT Interest Tax-Free, TDS Removed
The Union Budget 2026 introduces major relief for accident victims by exempting MACT interest from income tax and scrapping TDS on such payments, simplifying compensation claims.
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GST Collections Reach ₹1.93 Lakh Cr in Jan, 6.2% Rise
India's gross GST collections surged 6.2% to ₹1.93 lakh crore in January 2026, marking a three-month peak. Net revenues grew 7.6% to ₹1.71 lakh crore despite recent rate cuts, signaling robust consumption recovery.
GST Collections Rise 6.2% to Over ₹1.93 Lakh Crore in Jan
India's gross GST collections for January 2024 have increased by 6.2% year-on-year, reaching over ₹1.93 lakh crore, reflecting robust economic activity and improved compliance.
New Tobacco Taxes: Excise Duty & Health Cess from Feb 1
India introduces additional excise duty on cigarettes and health cess on pan masala from February 1, replacing GST compensation cess. New tax structure includes MRP-based valuation and CCTV monitoring for manufacturers.
GST Collections Reach Rs 1.93 Lakh Crore in Jan 2026
India's GST revenue for January 2026 reached Rs 1,93,384 crore, showing a 6.2% year-on-year increase. Domestic collections grew by 4.8%, while import-related GST surged by 10.1%.
Budget 2026 LIVE: FM Sitharaman's Tax Announcements Awaited
Union Budget 2026 LIVE updates: Finance Minister Nirmala Sitharaman presents her ninth consecutive budget. Expectations high for income tax slab changes under new regime, following last year's GST rationalization and tax cuts.
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Budget 2026: Old Tax Regime Phase-Out Speculation
As Budget 2026 is tabled, tax experts debate whether the government will retire the old tax regime. The new regime has gained appeal since 2020, with zero tax up to ₹12 lakh introduced in 2025.
CJ Roy's Death: I-T Probe into Money Laundering Allegations
Income Tax officials investigate CJ Roy for alleged money laundering linked to political funding before his death. Family claims of harassment by I-T officials are disputed by sources.
Odisha Hotels Demand 5% GST Uniform Rate in Budget
Hoteliers in Odisha advocate for a simplified 5% GST across all mid-segment rooms and meals, citing current dual rates as a barrier to tourism growth and affordability.
Budget 2026 Live: Tax Relief for Salaried & Middle Class?
Finance Minister Nirmala Sitharaman presents Union Budget 2026-27 today. Live updates on income tax slabs, rates for FY 2026-27 under new & old regimes. Will there be changes to standard deduction, Section 80C, home loan benefits?
Budget 2026 Income Tax: FM Sitharaman's Key Announcements
Finance Minister Nirmala Sitharaman presents Union Budget 2026 with key income tax announcements. Expectations include changes to tax slabs, standard deduction hike to ₹1 lakh, and capital gains rationalization.
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Nagpur Experts Suggest Tax Reforms, Gold Monetization Pre-Budget
Business guilds and experts from Nagpur have submitted pre-Budget suggestions to the finance ministry, including gold monetization from temples, treating husband and wife as a single taxpayer, and revising exemption limits with inflation.
IT Dept Acts on Benami Deals in Rohtak Liquor Business
The Income Tax Department's investigations wing has filed complaints against two benamidars and two beneficiaries of a Rohtak-based liquor company under the Benami Prohibition Act. The case involves L13 licenses for 2022-23 and a license fee of Rs 78.39 l
DGGI Busts Rs 450 Crore GST Fraud, Arrests 3 in Gujarat
Surat DGGI uncovers massive fake ITC racket involving Rs 450 crore billing, Rs 80 crore GST fraud. Three directors arrested from Ahmedabad and Surat firms in organized economic crime.
IT Raid on Ex-Punjab Minister's House Ends After 3 Days
A three-day-long Income Tax Department raid at the residence of a former Punjab minister has concluded, with officials seizing documents and electronic devices for further investigation into alleged financial irregularities.
India vs US, UK: Income Tax Comparison Ahead of Budget 2026
As Union Budget 2026 approaches, taxpayers await relief measures. Here's how India's income tax rates, deductions, and capital gains compare with major economies like the US and UK.
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Budget 2026: Simplify TDS, Resolve Tax Disputes, Digitize Customs
As Budget 2026 approaches, experts urge reforms in withholding taxes, dispute resolution, and customs procedures to boost ease of doing business and investment in India.
TDS Reforms: Simplifying India's Tax Framework
India's TDS system faces complexity challenges despite recent reforms. This analysis explores rationalization measures to ease compliance burden and improve liquidity for businesses.
Cigarette Prices to Rise from Feb 1 with New Tobacco Tax
India introduces new excise duty based on cigarette length and health cess on pan masala from February 1, marking first major tobacco tax hike in seven years to align with global health norms.
Budget 2026: Tax Reforms for Transparency and Ease
As India approaches Union Budget 2026, experts highlight critical tax reforms needed in refund tracking, NRI property transactions, and capital gains reinvestment to enhance taxpayer experience.
Budget 2026: Tax Reforms for Business Growth
As India prepares for Union Budget 2026, businesses seek crucial tax reforms including flexible ITC, simplified compliance, MSME relief, and customs predictability to boost ease of doing business.
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GST Rate Cuts Create Inverted Duty Structure Challenges
India's 56th GST Council meeting introduced significant rate reductions but created structural issues for industries facing inverted duty structures, particularly in food processing where input services face higher taxes than finished products.
Budget 2026-27: LTCG Tax Reforms Expected for Investors
As India prepares for Union Budget 2026-27, reforms to long-term capital gains tax regime are in focus. With new Income-tax Act 2025 implementation, government has opportunity to rationalize capital gains provisions to align with economic objectives.
Tax Consultants Chamber Celebrates 100 Years with Summit
The Chamber of Tax Consultants commemorates its 100th anniversary with a landmark summit in Mumbai, focusing on tax reforms, digitalization, and professional development.
Haryana Govt Orders Urgent PAN Submission for Property Deeds Over ₹30L
Haryana revenue department instructs deputy commissioners to ensure immediate submission of pending PAN details for property registrations above ₹30 lakh to I-T department, addressing tax evasion concerns.
Budget 2026 Income Tax Expectations: Middle Class Awaits Relief
Finance Minister Nirmala Sitharaman's ninth consecutive Union Budget tomorrow brings high hopes for income tax cuts. After last year's relief, salaried taxpayers expect increased standard deduction and TDS rationalization.
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Classified Walks: A Taxman's New Strategy for Administration
Explore how tax officials are using classified walks as a strategic tool to enhance tax collection, improve compliance, and streamline administration in India's evolving economic landscape.
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