Finance Bill 2026 Makes CBDT Circulars Binding on TDS and TCS Deductors
Finance Bill 2026 proposes statutory backing for CBDT circulars, making them binding on taxpayers responsible for TDS and TCS. Read implications for compliance and penalties.
Category: Budget
Budget 2026-27 Customs Reforms: Faster Clearance, Lower Duty, Digital Integration
Union Budget 2026-27 proposes key Customs reforms. Highlights include lower duty on personal imports, trusted importer benefits, automated clearances, electronic sealing for exports, and a single digital window for …
Finance Bill 2026: Employee Contribution Deduction Allowed up to ITR Due Date
Clause 31 of Finance Bill 2026 amends section 29 to allow deduction of employee welfare contributions if paid by the return filing due date, easing compliance and reducing litigation.
Finance Bill 2026: Electronic Nil or Lower TDS Certificates under Section 395
Clause 74 of Finance Bill 2026 enables electronic filing and issuance of nil or lower TDS certificates under section 395, reducing compliance burden and delays.
Finance Bill 2026: No TAN Required for Property Buyers & Certain TDS Cases
Clause 75 of Finance Bill 2026 relaxes TAN requirements under section 397. Key relief for resident individuals & HUFs buying property and other specified TDS transactions.
Finance Bill 2026: Amendments on TDS Declaration Through Depositories Explained
Finance Bill 2026 introduces section 393(6A) allowing TDS non-deduction declarations to be filed through depositories. Understand scope, eligibility, and impact.
Finance Bill 2026 Clarifies TDS on Manpower Supply and Foreign Asset Remittances
Clause 78 of the Finance Bill 2026 clarifies TDS on supply of manpower and aligns the definition of “authorised person” with FEMA for foreign asset remittances.
Finance Bill 2026: TDS-Linked Deduction Relief for Non-Life Insurance Companies
Clause 113 of the Finance Bill 2026 amends Schedule XIV to allow non-life insurers to claim deductions disallowed due to TDS defaults once tax is deducted and paid later.
Finance Bill 2026: Tax Exemption for Land Acquisition Compensation Clarified
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.
Finance Bill 2026: Tax Exemption on Interest from Motor Accident Compensation
Clause 108 of Finance Bill 2026 exempts interest awarded on motor accident compensation under the Motor Vehicles Act, 1988 from income tax.