Section 277: When a False Tax Statement Becomes a Criminal Offence False verification, mens rea, prosecution, compounding – and the major change under Section 482 of the Income-tax Act, 2025 A mistake in an income-tax return may result in additional tax, interest or penalty. But a knowingly false statement can go much further – it…

CBDT Removes Arrest & Detention from Tax Recovery Rules; Extends Registration Deadline for Valuers   The TAX Update The Central Board of Direct Taxes (CBDT) has introduced important changes to the Income-tax Rules, 2026, covering tax recovery proceedings, registration of valuers and authorised income-tax practitioners, and the information required from professionals seeking registration. The amendments…

Representation for extension of the specified date for furnishing Tax Audit Reports u/s 44AB and other audit reports for AY 2026-27 from 30 September 2026 to 31 October 2026, and of the return due date in audit cases from 31 October 2026 to 30 November 2026   Ref. No.: BVGF/CBDT/2026-27/001 BY EMAIL AND SPEED POST…

Section 147A: Supreme Court Stays Ruling Striking It Down – Reassessment Proceedings Also Frozen   The controversy surrounding Section 147A of the Income-tax Act, 1961 has now reached the Supreme Court, and the interim order has significant implications for pending reassessment proceedings. On 18 September 2026, a Bench comprising Justice J.B. Pardiwala and Justice K….

Capital Gains: One Rate, Many Rules!   “What is the capital gains tax rate?” It sounds like a simple question. And, for Long Term Capital Gains (LTCG), the answer is broadly simple: 12.5%. But when it comes to Short Term Capital Gains (STCG), the answer depends upon the asset and the applicable special provisions. The…