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Income Tax · 28 Sep 2026

Audit-case ITR for AY 2026-27 can now be filed till 21 November 2026; audit report date moves to 21 October

CBDT has extended the return due date for persons subject to audit from 31 October 2026 to 21 November 2026. The specified date for the audit report moves from 30 September to 21 October 2026.

Extended

Income Tax · 22 Sep 2026

TDS on property bought from a non-resident: Forms 132 and 141 amended from 1 October 2026

The Income-tax (Fifth Amendment) Rules, 2026 bring the case where a resident individual or HUF deducts tax on buying immovable property from a non-resident into rules 215, 218 and 219, and add a new Schedule E to Form No. 141.

Rule change

Income Tax · 17 Sep 2026

Valuers and authorised income-tax practitioners: date in rules 246 and 256 moved to 31 March 2027; Forms 169 and 171 replaced

The Income-tax (Fourth Amendment) Rules, 2026 replace “30th September, 2026” with “31st March, 2027” in rule 246(4) and rule 256(4), and substitute the application forms for registration as a valuer and as an authorised income-tax practitioner.

Extended

Income Tax · 17 Sep 2026

Net direct tax collections at ₹12,12,411 crore as on 17 September 2026, up 12.96%; refunds 29.19% higher at ₹2,20,027 crore

CBDT data for FY 2026-27 as on 17 September 2026 shows gross direct tax collections of ₹14,32,437.43 crore (up 15.19%), refunds of ₹2,20,026.72 crore (up 29.19%) and net collections of ₹12,12,410.71 crore (up 12.96%). Advance tax stands at ₹5,21,940.72 crore, 16.18% more than a year ago.

Income Tax · 15 Sep 2026

Form No. 98 for declarations in Form No. 97: Income Tax Department lays down registration and filing procedure

DGIT (Systems) has notified how a reporting person registers on the Reporting Portal, gets an ITDREIN and files, corrects or deletes the statement in Form No. 98 under rule 160 of the Income-tax Rules, 2026.

Action needed

Income Tax · 15 Sep 2026

Income-tax data sharing under section 258: CBDT to give Yes/No income flags to Andhra Pradesh for welfare schemes and to the Petroleum Ministry

CBDT has issued two orders under section 258(1) of the Income-tax Act, 2025 naming the Director General of Income-tax (Systems), Delhi as the authority to share information. Andhra Pradesh will get a flag on whether a person crosses an agreed income threshold, to identify welfare-scheme beneficiaries. The Ministry of Petroleum and Natural Gas will get flags on five questions, in an order that replaces one of 17 June 2025.

New facility

Income Tax · 18 Aug 2026

Income Tax Department verifies suspicious foreign remittances; 36 professionals who issued Form 15CB covered

A nationwide verification launched on 18 August 2026 covers about 394 entities and 36 professionals. CBDT has asked Accountants to exercise due care before certifying remittances in Form 15CB / Form 146.

Action needed

Income Tax · 15 Aug 2026

Foreign assets disclosure scheme: CBDT FAQs explain who can declare, the 30% tax plus equal amount, the ₹1 lakh fee and payment through Challan ITNS 289

CBDT’s FAQs on the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 explain that even a person who is now non-resident can declare, that undisclosed foreign assets and income up to ₹1 crore cost 30% tax plus an equal amount, and that foreign assets up to ₹5 crore already taxed but not reported cost a flat ₹1 lakh. Payment is through Challan No. ITNS 289.

Clarified

Income Tax · 14 Aug 2026

Foreign Assets of Small Taxpayers Disclosure Scheme: rules and forms notified; last date is 31 December 2026

The Scheme’s rules, notified on 14 August 2026 and in force from 16 August, fix 31 March 2026 as the valuation date, set out how each foreign asset is valued, and prescribe Forms 1 to 4 for the declaration, the order, the payment and the final certificate.