Category: Income Tax

Clause 70 of Finance Bill 2026 inserts section 354A to exempt certain mergers of registered NPOs from accreted income tax, subject to same objects and prescribed conditions.

Clause 68 of Finance Bill 2026 amends section 351 to exclude certain commercial activity violations from “specified violations,” aligning NPO rules with the Income-tax Act, 1961.

Clause 67 of Finance Bill 2026 amends section 349 of the Income-tax Act, 2025 to permit belated return filing by registered non-profit organisations from 1 April 2026.

Clause 36 of Finance Bill 2026 amends section 93 to disallow any expenditure deduction against dividend and mutual fund income, effective from 1 April 2026.

Clause 35 of Finance Bill 2026 clarifies capital gains exemption on Sovereign Gold Bonds, restricting it to original individual subscribers holding bonds till maturity.

Finance Bill 2026 proposes a major shift in taxation of share buybacks, moving from dividend taxation to capital gains, with special tax treatment for promoters.

Finance Bill 2026 explained with a complete list of direct tax amendments, penalty reforms, reassessment changes, and compliance updates.