Author: Vinod Arora

Clause 108 of Finance Bill 2026 amends Schedule III of the Income-tax Act, 2025 to expressly exempt income from compulsory land acquisition under the RFCTLARR Act, 2013.

Clause 108 of Finance Bill 2026 exempts interest awarded on motor accident compensation under the Motor Vehicles Act, 1988 from income tax.

Finance Bill 2026 rationalises Income Tax Return due dates, revised return timelines and late fees. Read the meaning, changes and implications for taxpayers.

Finance Bill 2026 proposes FAST-DS 2026, a time-bound disclosure scheme allowing small taxpayers to declare undisclosed foreign assets or income with tax payment and limited immunity under the Black …

Finance Bill 2026 reforms tax prosecution by replacing rigorous imprisonment with graded penalties, fines and limited simple imprisonment under Income-tax Acts, 1961 and 2025.

Clauses 64 and 65 of Finance Bill 2026 amend sections 295 and 296 to restrict block periods for third parties and extend assessment timelines to 18 months from search …

Finance Bill 2026 amends sections 220, 245MA and 270A to allow penalty for under-reporting to be imposed in the assessment order, defer interest during appeals, and grant immunity on …