New PAN Quoting Rules 2026: Full List of Revised Thresholds Explained
Quick Summary Box Particulars Details Governing Rules Rules 161/162 (replacing old Rule 114B), Income-tax Rules, 2026 Notified Via Notification No. 22/2026, dated 20 March 2026 Effective From 1 April 2026 Core Shift Daily transaction limits → Annual aggregate thresholds Form 60 Replacement Form No. 97 (for persons without PAN) Penalty for Non-Compliance ₹10,000 under Section […]
No TDS on Payments to IFSC Units: CBDT Notification 80/2026 Explained
Quick Summary Box Particulars Details Notification No. 80/2026 [S.O. 3743(E)], dated 10 July 2026 Issued Under Section 400(1) read with Section 147, Income-tax Act, 2025 Effective From 1 April 2026 (retrospective; notified 10 July 2026) Relief No TDS required on specified payments to eligible IFSC units Eligible Categories 14 types of IFSC entities (GIFT City) […]
Tax Audit Due Date 2026: Will CBDT Extend the October 31 Deadline? Complete Compliance Checklist for Practitioners
Quick Summary Box Particulars Details Financial Year FY 2025-26 (AY 2026-27) Tax Audit Report (Form 3CA/3CB, 3CD) due date 30 September 2026 ITR due date for audit cases 31 October 2026 Transfer Pricing Report (Form 3CEB) due date 31 October 2026 (historically NOT extended even when audit dates are) Governing Section Section 44AB, Income-tax Act, […]
HRA Exemption Now Covers 4 More Cities Under IT Rules 2026: What Changed and Who Benefits
Quick Summary Box Particulars Details Governing Provision House Rent Allowance exemption rules under Income-tax Rules, 2026 (replacing IT Rules, 1962) Effective From 1 April 2026 (Tax Year 2026-27 onward) Old Position 50% of salary exemption limited to Delhi, Mumbai, Kolkata, Chennai only; 40% for all other cities New Position 50% exemption band expanded to include […]