EaseValueBooks Rejection Section 145 2025-26: SC Ruling on Profit Decline
In a significant July 2026 ruling, the Supreme Court has reinforced taxpayer protection by holding that income tax authorities cannot reject books of accounts under Section 145 simply because profits have declined or stock is absent. This landmark decision provides crucial relief to businesses facing assessments.
State Government Securities Auction 2026 - Tax Treatment for Individual Investors
Seven State Governments have announced a ₹18,100 Crore auction of State Government Securities (SGS) on July 28, 2026. This is a critical update for individual investors on how interest income and capital gains from these securities are taxed under the Income Tax Act 2025.
RBI Urban Cooperative Banks Income Recognition Rules 2026
The Reserve Bank of India has issued amended directions on July 16, 2026, for urban cooperative banks regarding income recognition when acquiring Specified Non-Financial Assets. Banks must now reverse unrealised accrued interest by September 30, 2027, affecting their tax position under Income Tax Act 2025.
Kerala Headload Workers Welfare Board Section 10(46) Exemption 2026
The Central Board of Direct Taxes (CBDT) has recently notified Kerala Headload Workers Welfare Board under Section 10(46) of the Income Tax Act 2025, granting full income tax exemption subject to specified conditions. This is a significant update for welfare boards and charitable organizations operating in Kerala.
Section 11 Tax Exemption Kerala Headload Workers 2026-27 | CBDT
The Central Board of Direct Taxes (CBDT) has issued Notification No. 96/2026 granting tax exemption under Section 11 of the Income Tax Act 2025 to the Kerala Headload Workers Welfare Board for assessment years 2026-27 to 2028-29. This exemption shields specified income earned by the board from direct tax liability during this three-year period.
Treasury Bills Auction 2026 - Income Tax Implications for Indian Investors
Reserve Bank of India has announced a fresh auction of Government of India Treasury Bills worth ₹24,000 crore in July 2026. Individual investors must understand the income tax treatment, TDS applicability, and reporting requirements under the Income Tax Act 2025.
RBI Rural Co-operative Banks Income Recognition Rules 2026 - SNFA Asset Changes
The Reserve Bank of India has issued critical amendments to income recognition and asset classification rules for rural co-operative banks effective October 1, 2026. These new directions impact how banks record income from Specified Non-Financial Assets (SNFA) and reverse unrealised interest.
Section 82 Under-Construction Flat Allotments 2026 Tax Treatment
Latest July 2026 update on how under-construction flat allotments qualify as 'construction' under Section 82 of the Income Tax Act, 2025. This recent clarification impacts capital gains calculations for AY 2026-27 and beyond.
ITAT Cannot Reject Appeals for Jurisdiction - Delhi HC 2026 Ruling
This is a recent July 2026 update: Delhi High Court has set aside ITAT orders that rejected appeals purely on grounds of lack of territorial jurisdiction. This ruling protects taxpayers' right to appeal across benches after official transfers.
GoI Buyback of Securities July 2026 - Income Tax Impact for Investors
The Government of India has announced a major buyback of its securities worth ₹20,000 crore through auction scheduled for July 28, 2026. Investors and financial institutions need to understand the income tax treatment of gains or losses from this buyback transaction.
RBI Local Area Banks Income Recognition Rules 2026 - Tax Impact
The Reserve Bank of India has issued critical amendment directions in July 2026 affecting how Local Area Banks recognize income from acquired non-financial assets. This impacts tax reporting and provisions for banking institutions effective October 1, 2026.
SEBI Regulation 62A NCD Compliance 2026 - Transfer Rules
SEBI has issued critical clarification on Regulation 62A compliance when listed debt entities assume unlisted NCD obligations during corporate restructuring. This update directly impacts how companies must report such transfers for Income Tax purposes in AY 2026-27.
Have a tax question? Our CA will reply within 30 mins.
💬 Ask on WhatsApp