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Delhi High Court blocks Black Money Act move over involuntary residents in Rajiv Saxena case

Delhi High Court blocks Black Money Act move over involuntary residents in Rajiv Saxena case

The Delhi High Court has stayed action under the Black Money (Undisclosed Foreign Income and Assets) Act against “involuntary residents” in the Rajiv Saxena matter. The court ruled the Income Tax Department cannot blindly apply the law to obtain foreign asset information, referencing the AgustaWestland case. It ordered the department to share details of the foreign assets in question.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Major income tax overhaul from April 1 2026 HRA relief ITR deadlines and buyback changes

Major income tax overhaul from April 1 2026 HRA relief ITR deadlines and buyback changes

From April 1, 2026, India will move to a new Income Tax Act replacing the 1961 law, bringing updated TDS/TCS norms, revised ITR filing deadlines, and fresh rules for buyback taxation. The changes also expand HRA exemptions and increase meal card tax benefits, aiming to simplify compliance while altering how many taxpayers plan year-end paperwork.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Income tax filing just got easier as India launches AI chatbot Kar Saathi

Income tax filing just got easier as India launches AI chatbot Kar Saathi

India’s Income Tax Department has launched Kar Saathi, an AI chatbot on its revamped portal to make ITR filing simpler. The 24/7 tool is designed to explain complex tax rules clearly, provide step-by-step guidance, and help reduce filing errors. Officials say it also aims to lower taxpayers’ dependence on experts through proactive, on-demand support.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ITR filing 2026 government releases new forms for AY 2026–27 check ITR U and ITR V now

ITR filing 2026 government releases new forms for AY 2026–27 check ITR U and ITR V now

The government has released updated Income Tax Return forms for Assessment Year 2026–27. The revised ITR-U enables taxpayers to correct past filings, with the facility available up to four years. Filing timelines determine applicable penalties. After filing, ITR-V acts as the verification document that taxpayers must submit to complete the process.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ITAT Ahmedabad backs taxpayer who earned Rs 8.75 crore capital gains but filed no ITR

ITAT Ahmedabad backs taxpayer who earned Rs 8.75 crore capital gains but filed no ITR

An ITAT Ahmedabad ruling favoured a man from Bharuch, Gujarat, who sold two agricultural plots for Rs 8.75 crore and claimed capital gains. Though he paid no income tax and did not file an ITR, the Income Tax Department issued a notice. The tribunal set aside the action based on the notice and process rather than the gains alone.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Seller lost Rs 21 lakh TDS over buyer mistake ITAT Delhi allowed Form 71 credit relief

Seller lost Rs 21 lakh TDS over buyer mistake ITAT Delhi allowed Form 71 credit relief

An ITAT Delhi order gave relief to a property seller who lost Rs 21 lakh TDS because the buyer deposited it in the wrong tax year. The Income Tax Department denied the credit, but the tribunal held that capital gains are taxed in the year of transfer and allowed the seller to claim credit using Form 71.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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PAN rules change from April 1 as limits rise and Form 93 comes in

PAN rules change from April 1 as limits rise and Form 93 comes in

From April 1, new PAN application rules under the Income-tax Act 2025 take effect. Category-specific PAN forms will replace the earlier Aadhaar-only option, and mandatory PAN quoting expands for high-value transactions like large cash deposits and property deals. Taxpayers may also need extra documents when applying, making compliance more important than ever.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
EPFO replaces 15G and 15H with single Form 121 from April 2026 for members

EPFO replaces 15G and 15H with single Form 121 from April 2026 for members

EPFO has announced a major change for EPF withdrawals and tax reporting: Forms 15G and 15H are being replaced by one unified Form 121 starting April 1, 2026. The update comes under the new Income-tax Act, 2025, and EPFO says it clarifies which members need to file the new form.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
TRACES 2.0 portal launched to simplify TDS compliance with one tax year view

TRACES 2.0 portal launched to simplify TDS compliance with one tax year view

The Income Tax Department has rolled out TRACES 2.0, a revamped portal that replaces the older system with a more user-friendly interface for TDS compliance. It centralizes Form 26AS, AIS, and TDS certificates under a single “Tax Year” concept, making reporting easier for deductors and helping other stakeholders access information. Property buyers can’t deposit TDS here, but can still use the platform’s features.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Income tax portal revamp lets taxpayers file old and new rules from one website

Income tax portal revamp lets taxpayers file old and new rules from one website

The Income Tax Department has unveiled a revamped e-filing portal designed for the shift to the Income Tax Act, 2025. Taxpayers can now handle payments and file under both the old and new tax regimes via one platform, with updated ITR forms and challans scheduled for availability from April 1, 2026.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Faceless I T appeals spark backlash as senior officers seek reviews without the rulebook

Faceless I T appeals spark backlash as senior officers seek reviews without the rulebook

The Centre’s National Faceless Appeal Scheme launched in 2020 aimed to reduce fear and curb discretionary power in income tax appeals. But a quiet bureaucratic dispute is now testing the reform’s core promise, with senior officers pushing for review processes that may not strictly follow the existing rulebook.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ITR changes from April 2026 five updates for Tax Year 2026-27 you must know

ITR changes from April 2026 five updates for Tax Year 2026-27 you must know

From April 1, 2026, India’s new Income Tax Act and Rules will reshape ITR filing for Tax Year 2026-27. Some taxpayers get extended ITR due dates, while deadlines for updated and revised returns are revised. The rules also expand where PAN quoting becomes mandatory, aiming to improve compliance and streamline filing.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Six TDS TCS changes for 2026 27 from NRI property to education remittances

Six TDS TCS changes for 2026 27 from NRI property to education remittances

Tax rules for 2026–27 kick in from April 1, 2026, bringing six key shifts across TDS and TCS. Coverage expands for NRI property TDS and TCS on overseas education remittances, while interest on motor vehicle compensation becomes tax-exempt. The process for lower TDS certificates also gets easier for small taxpayers, and TDS on manpower supply is clarified.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget 2025 may reboot direct taxes with a new income tax bill and roadmap

Budget 2025 may reboot direct taxes with a new income tax bill and roadmap

A report suggests the government could introduce a new income tax bill in the Budget 2025 Parliament session. The proposed direct tax code aims to simplify and streamline complex income tax laws so they’re easier for ordinary taxpayers to understand, with a possible roadmap that includes cutting tax rates and reducing exemptions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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New ITR forms for FY 2025-26 tighten disclosures on political donations and F&O trades

New ITR forms for FY 2025-26 tighten disclosures on political donations and F&O trades

India’s tax department has released updated ITR forms for FY 2025–26 with stricter disclosure norms, without changing the overall structure. The updates target transparency in areas like political donations, F&O trading, and digital payments. Alongside these tighter checks, taxpayers get small convenience updates such as a secondary address field to streamline personal details filing.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
New 2026 CBDT rules make DIN mandatory for income tax notices and orders, raising the stakes for fake alerts

New 2026 CBDT rules make DIN mandatory for income tax notices and orders, raising the stakes for fake alerts

The CBDT has introduced new 2026 rules requiring a Document Identification Number (DIN) on virtually all official income tax correspondence to taxpayers, including notices and orders. Issued via a March 31, 2026 circular, it replaces earlier 2019 guidelines and aims to help taxpayers verify authenticity. Limited exceptions are allowed but require post-facto approval within 15 days.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ITAT slams Surat businessman over Rs 80 lakh demonetisation cash as unexplained income

ITAT slams Surat businessman over Rs 80 lakh demonetisation cash as unexplained income

The ITAT Surat rejected a Surat businessman’s explanation for depositing Rs 80 lakh in cash during demonetisation. He claimed the money came from an earlier withdrawal for a property purchase, but the tribunal found the story unsupported by evidence and inconsistent with normal business conduct. His appeal was dismissed, upholding the tax department’s decision to treat it as unexplained income.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Income Tax probes NRIs unlisted share deals demanding proof of funds and valuations

Income Tax probes NRIs unlisted share deals demanding proof of funds and valuations

India’s Income Tax Department has issued notices to NRIs and offshore entities to explain investments in unlisted shares, focusing on the source of funds and how valuations were set. Officials say they’re cross-checking demat records for transactions between 2019 and 2023, flagging possible tax evasion, round-tripping, and money laundering, with non-compliance risking tax demands and litigation.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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ITR assessment rules change from April 2026 four key amendments explained for taxpayers

ITR assessment rules change from April 2026 four key amendments explained for taxpayers

From April 2026, India’s ITR assessment process will shift under the Finance Bill 2026. Four amendments will reshape how tax notices are issued, introduce DIN in communications, tighten timelines for completing assessments, and update how block assessments are handled. The changes are designed to improve efficiency and transparency, potentially affecting how taxpayers respond to notices during AY 2026-27.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Retro tax ghost buried as India moves to cut old indirect transfer demands

Retro tax ghost buried as India moves to cut old indirect transfer demands

A new Bill introduced in the Lok Sabha removes tax demands linked to indirect transfer of Indian assets for transactions before 28 May 2012. Instead, the rule will operate prospectively, taxing gains from selling foreign company shares only when those shares draw value from Indian assets. The move aims to end uncertainty over retro claims while preserving the policy’s core intent.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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