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Tax Updates 28 Mar 2026
Author
Source Correspondent Tax News Correspondent

TDS Certificate Deadline Extended to March 31, 2026

The CBDT has extended the deadline for issuing TDS certificates for Q3 FY 2025-26 (ending December 31, 2025) to March 31, 2026, due to technical glitches on the e-filing portal, offering relief to deductors and ensuring smoother tax filing for deductees.

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Income Tax 28 Mar 2026
Author
Aayushi Chaubey Finance Enthusiast

Credit Card Spends Under Tax Scanner from April 2026

From April 1, 2026, credit card transactions in India will face deeper tax scrutiny due to enhanced data integration. The tax system will use spending patterns to validate declared income, with an annual ₹10 lakh credit card payment threshold increasing visibility for taxpayers. Consistency between income and expenditure will be paramount.

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Income Tax 28 Mar 2026
Author
Source Correspondent Tax News Correspondent

Income Tax Rules 2026: New Benefits for Salaried Class

The Income Tax Rules 2026, effective April 1, 2026, introduce several enhanced exemptions for salaried individuals. Key changes include a 30-fold increase in Children Education and Hostel Expenditure Allowances, higher limits for meal coupons and corporate gifts, and an extended HRA benefit to more cities. The 'Tax Year' concept also replaces the 'Previous/Assessment Year' framework.

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Tax Compliance 28 Mar 2026
Author
Source Correspondent Tax News Correspondent

Finance Bill 2026: Digital Transformation in Tax Compliance

The Finance Bill 2026 is expected to push for greater digitalization in tax processes, emphasizing real-time data processing and cross-verification of GST and income tax data. Businesses must prepare for new reporting formats, tighter deadlines, and upgrade their IT and compliance management systems to adapt to these changes.

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Income Tax 28 Mar 2026
Author
A2Z Taxcorp LLP Source Correspondent

New Income Tax Act 2025/2026: Regime Choices & Rebates

The new Income Tax Act 2025/2026, effective April 1, 2026, maintains the new tax regime as default while allowing certain individuals to choose the old regime. It retains the Section 87A rebate for income up to ₹12 lakh and keeps tax slabs unchanged. The new regime restricts several common deductions, emphasizing a shift towards simplified tax processes.

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ITR Filing 27 Mar 2026
Author
ET Bureau Source Correspondent

March 31, 2026: Last Date to File ITR-U for FY20-21

The final deadline to file an updated income tax return (ITR-U) for Financial Year 2020-21 (Assessment Year 2021-22) is March 31, 2026, providing an opportunity to correct errors or declare unreported income.

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Tax Deadlines & Compliance 27 Mar 2026
Author
Chartered Accountant Suresh Surana Tax Expert / Chartered Accountant

Key Income Tax & GST Compliances Due by March 31

Multiple critical Income Tax and GST compliances, including filing ITR-U, applying for Form 13, and GST reconciliations, are due by March 31, 2026, to prevent penalties.

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Tax Updates 27 Mar 2026
Author
ET Bureau Source Correspondent

CBDT Extends Q3 FY26 TDS Certificate Deadline

The Central Board of Direct Taxes (CBDT) has extended the deadline for issuing TDS certificates for the third quarter of FY26 (October-December 2025) to March 31, 2026, citing technical glitches on the e-filing portal. This provides relief to both deductors and taxpayers.

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Income Tax, Tax Rules, ITR Forms, Tax Updates 27 Mar 2026
Author
Source Correspondent Tax News Correspondent

CBDT Releases Draft Income Tax Rules & Forms for FY 2026-27

The CBDT has unveiled draft Income Tax Rules, 2026, and new/updated compliance forms, effective April 1, 2026. This reform, under the new Income Tax Act, 2025, significantly reduces rules and forms, streamlines ITR filing, and updates legal references for tax audit and TDS return forms.

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TDS, Tax Filing Deadlines, Tax Notifications 27 Mar 2026
Author
Source Correspondent Tax News Correspondent

TDS Certificate Deadline Extended to March 31, 2026 for Q3 FY2025

The CBDT has extended the deadline for issuing TDS certificates (Form 16A) for Q3 FY2025 to March 31, 2026, due to technical glitches on the e-filing portal, providing relief to deductors and ensuring timely receipt of certificates for taxpayers.

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TDS, Tax Filing Deadlines, Tax Updates 27 Mar 2026
Author
Source Correspondent Tax News Correspondent

CBDT Extends TDS Certificate Deadline for Q3 FY2025-26

The CBDT has extended the deadline for issuing TDS certificates for Q3 FY2025-26 (quarter ending December 31, 2025) to March 31, 2026, due to technical glitches on the e-filing portal, providing relief to both deductors and taxpayers.

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Income Tax 27 Mar 2026
Author
Arpit Kulshrestha Tax Expert

Taxpayers Can Revise ITRs Even Amidst Reassessment Proceedings

The Finance Minister has proposed a reform allowing taxpayers to update their Income Tax Returns (ITRs) even after reassessment proceedings have begun, subject to an additional 10% tax, aiming to reduce litigation and rectify genuine mistakes.

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Income Tax Updates 26 Mar 2026
Author
ET Bureau / ClearTax Expert Source Correspondent / Tax Expert

India Ushers in New Income Tax Act, 2025, and Rules, 2026: Key Changes and Comparison Tool

India is set to implement the new Income Tax Act, 2025, and Income-tax Rules, 2026, from April 1, 2026, bringing changes like a unified 'Tax Year', revamped forms, and an online tool to compare old and new provisions. The old regime's HRA and education allowance benefits also see updates.

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