Insights
Changes in tax and compliance law, explained in plain language with links to the official sources.
Topics: Income Tax, GST
Income Tax
The Income-tax Act, 2025: what changes for taxpayers from 1 April 2026
The Income-tax Act, 2025 replaced the 1961 Act from 1 April 2026. Here is what changes — the tax year, new section numbers and transition rules — and what stays the same.
Income Tax
ITR due dates for FY 2025-26 (AY 2026-27), revised returns and the new audit penalty
AY 2026-27 due dates depend on the return form: 31 July for ITR-1/ITR-2, 31 August for non-audit business cases. Revised returns allowed until 31 March 2027.
Income Tax
HRA exemption from Tax Year 2026-27: eight cities now qualify for 50% — Ghaziabad and Noida don't
The Income-tax Rules, 2026 extend the 50% HRA limit to Bengaluru, Hyderabad, Pune and Ahmedabad. Salaried employees in Ghaziabad, Noida and Gurugram still use 40%.
Income Tax
New vs old tax regime for Tax Year 2026-27: a practical way to decide
With income up to ₹12 lakh effectively tax-free under the new regime, the old regime pays off only with large deductions. Test it with your own numbers.
GST
After the GST rate rationalisation: a checklist for businesses
GST moved to a 5% and 18% structure from 22 September 2025, with 40% for specified goods. What to re-check in invoicing, input credit and contracts.