Karan Malhotra

Finance Act 2025 extends the Section 139(8A) ITR-U filing window from 24 to 48 months, effective 1 April 2025, with a revised CBDT form. The Section 140B additional-tax ladder now runs 25/50/60/70% across four buckets; provisos and the bar on refund/loss claims are unchanged.

From 1 April 2026, the ICAI UDIN portal enforces field-level validation across all sub-clauses of Section 44AB, requires PAN as a mandatory input, and caps tax audit UDINs at 60 per partner. A practical walk-through of what has changed, why, and how the tax audit workflow needs to adjust.

The Children's Education Allowance exemption, frozen at Rs 100/month per child for two decades, is raised to Rs 3,000/month (max two children) under the Income-tax Rules, 2026 from 1 April 2026. A 30x jump lifting the annual cap from Rs 2,400 to Rs 72,000 for a two-child household.

MCA launches CCFS 2026 from April 15 to July 15, 2026 — companies can clear pending ROC filings at just 10% of additional fees. Here is who qualifies and how.

The new Income Tax Act 2025 consolidates 65 TDS sections into just 3. Here is the complete mapping of old to new sections, rates, and compliance changes.

Section 44AB tax audit applies if your business turnover exceeds Rs 1 crore or professional receipts cross Rs 50 lakh. Here are the limits and penalties.

Section 206C(1H) required sellers to collect TCS at 0.1% on goods sales above Rs 50 lakh. It ceased to apply from 1 April 2025.

Sections 269SS and 269T restrict accepting and repaying loans or deposits of Rs 20,000 or more in cash. Know the rules and penalties.