India

On 1 September 2026, the Central Board of Direct Taxes (CBDT) issued Notification No. 114/2026 [F. No. 370142/18/2026-TPL], formally notifying the rules and prescribed forms under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026. This scheme aims to widen the tax base by encouraging small taxpayers to voluntarily disclose foreign assets and income, aligning […]

On 1 September 2026, the Central Board of Direct Taxes (CBDT) issued Notification No. 114/2026 [F. No. 370142/18/2026-TPL], formally notifying the rules and prescribed forms under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026. This scheme, introduced under the Finance Act 2026, provides a one-time compliance window for small taxpayers to declare undisclosed foreign

On 20 August 2026, the Income Tax Department released the offline Excel utility for filing Income Tax Return Form ITR-6 for Assessment Year 2026-27 (Financial Year 2025-26). ITR-6 is applicable to companies other than those claiming exemption under Section 11 (charitable/religious trusts). The release of the offline utility follows the earlier launch of the online

On 17 August 2026 the Central Board of Direct Taxes CBDT issued Notification No 114/2026 establishing the Foreign Assets of Small Taxpayers Disclosure Scheme 2026 under Government Specification Rule GSR 732E This notification mandates small taxpayers to disclose foreign assets held outside India aiming to enhance fiscal transparency prevent base erosion and align with international

On 12 August 2026 the Income Tax Department issued Notification No 113/2026 under Section 45 3 a i read with Section 45 4 b of the Income Tax Act 2025 establishing procedural guidelines for the District Legal Service Authority Panchkula under Scheme Office SO 4459E The notification clarifies the authorities role in facilitating tax dispute

On 12 August 2026 the Income Tax Department published Notification No 112/2026 under Scheme Office SO 4458E providing complementary procedural directives for the District Legal Service Authority Panchkula regarding the conduct of tax assessments and the facilitation of taxpayer representation in preliminary proceedings This notification supplements the earlier SO 4459E directive by specifying documentation requirements

On 10 August 2026 the Central Board of Direct Taxes CBDT issued Notification No 111/2026 CBDT under Scheme Office SO 4425E providing a clarificatory interpretation of Section 45 3 a i of the Income Tax Act 2025 in the context of the Sir Ganga Ram Trust case before the Delhi jurisdictional authority The notification addresses

On 7 August 2026 the Income Tax Department issued Notification No 7/2026 a final order under Section 45 3 b of the Income Tax Act 2025 read with Rule 35 2 of the Income Tax Rules 2026 determining the applicable assessment year and accounting period for specified taxpayer entities The order harmonizes the computation of

As of 05-Aug-2026, the Income Tax Department has made the online utility for filing Income Tax Return Form ITR-5 for the Assessment Year 2026-27 available on the e‑filing portal. Key Takeaways Form Access: The ITR-5 utility can be accessed directly through the portal’s “Downloads” section. Filing Deadline: The utility remains open for submissions until the

On 5 August 2026 the Income Tax Department issued Notification No 110/2026 under Scheme Office SO 4322E notifying the application of Schedule III Table Sl No 36 read with Section 11 of the Income Tax Act 2025 30 of 2025 in the case of the Odisha Joint Entrance Examination Committee The notification clarifies the tax