Regulatory updates
What changed, and what it means for you
Headlines from the Income Tax Department, RBI and the Press Information Bureau are collected automatically several times a day and sorted by topic. The key changes in force below are reviewed by our team.
Reviewed by our team
Key changes in force
Last reviewed 9 November 2026.
Income Tax
Income-tax Act, 2025 in force from 1 April 2026 — 'tax year' replaces FY/AY
Applies from Tax Year 2026-27. FY 2025-26 and earlier remain under the 1961 Act. Section numbers have changed throughout.
Income Tax
New regime slabs and ₹12 lakh rebate continue for Tax Year 2026-27
Nil up to ₹4 lakh, then 5–30% in ₹4 lakh steps; resident individuals with income up to ₹12 lakh pay no tax; ₹75,000 standard deduction.
Income Tax
HRA: 50% limit extended to Bengaluru, Hyderabad, Pune and Ahmedabad
Income-tax Rules, 2026. Ghaziabad, Noida and Gurugram remain at 40%.
Income Tax
ITR due dates now depend on return form: 31 July (ITR-1/2), 31 August (non-audit business)
Revised returns allowed until 31 March 2027, with a fee after 31 December 2026.
Income Tax
Fixed penalty for late tax audit reports from Tax Year 2026-27
Reported as ₹75,000 for a delay of up to one month and ₹1,50,000 beyond.
GST
GST rate rationalisation: 5% and 18% principal slabs, 40% for specified goods
Effective 22 September 2025. Review item masters, price lists and contracts.
Updated automatically
Latest from official sources
Checking official sources…
1 Apr 2026
Income Tax
Income-tax Act, 2025 in force from 1 April 2026 — 'tax year' replaces FY/AYApplies from Tax Year 2026-27. FY 2025-26 and earlier remain under the 1961 Act. Section numbers have changed throughout.
Source: S K Monga & Associates (reviewed)
1 Feb 2026
Income Tax
New regime slabs and ₹12 lakh rebate continue for Tax Year 2026-27Nil up to ₹4 lakh, then 5–30% in ₹4 lakh steps; resident individuals with income up to ₹12 lakh pay no tax; ₹75,000 standard deduction.
Source: Income Tax Department
1 Apr 2026
Income Tax
HRA: 50% limit extended to Bengaluru, Hyderabad, Pune and AhmedabadIncome-tax Rules, 2026. Ghaziabad, Noida and Gurugram remain at 40%.
Source: S K Monga & Associates (reviewed)
17 Jun 2026
Income Tax
ITR due dates now depend on return form: 31 July (ITR-1/2), 31 August (non-audit business)Revised returns allowed until 31 March 2027, with a fee after 31 December 2026.
Source: S K Monga & Associates (reviewed)
17 Jun 2026
Income Tax
Fixed penalty for late tax audit reports from Tax Year 2026-27Reported as ₹75,000 for a delay of up to one month and ₹1,50,000 beyond.
Source: S K Monga & Associates (reviewed)
22 Sept 2025
GST
GST rate rationalisation: 5% and 18% principal slabs, 40% for specified goodsEffective 22 September 2025. Review item masters, price lists and contracts.
Source: S K Monga & Associates (reviewed)
Headlines link to the original publication. They are collected automatically and are not individually reviewed; they are not advice. Rules used by our calculators change only after professional review.
Official sources
- Income Tax DepartmentIncome Tax
- Income-tax e-filing portalIncome Tax
- GST portalGST
- CBIC (GST & customs)GST
- Ministry of Corporate AffairsCorporate & MCA
- Reserve Bank of IndiaRBI & Banking
- Press Information BureauSchemes & Incentives
- Startup IndiaSchemes & Incentives
- Udyam (MSME) registrationSchemes & Incentives
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