Accotax

15/05/2026

ITR Filing for Assessment Year 2026-27 has started -27

09/05/2026

₹2 लाख से ऊपर खरीदारी? PAN अब Mandatory!


For Complete Detail Click the Link Below-
https://gstincometaxindia.blogspot.com/2026/05/purchasing-above-2-lakh-pan-may-be.html

03/05/2026

⚠️ Claiming HRA? New Rule Can Reject Your Deduction!

Tax India (Accotax Business Solutions) provides GST filing, Income Tax return, TDS services, and accounting solutions for individuals and businesses.

01/05/2026

ITR filing? First, gather ALL your bank accounts!

17/04/2026

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09/04/2026

31/03/2026

📢 Latest GST & Income Tax Updates (FY 2026-27)
Applicable from 1 April 2026
🔷 Income Tax Updates (With Figures)
1️⃣ New Income Tax Act 2025 Implemented
Old Income Tax Act 1961 replaced
Applicable from 1 April 2026
Simplified language and structure
Focus on easy compliance and reduced litigation
📌 Applies to FY 2026-27 onwards
2️⃣ New Tax Regime Slabs (Default Regime)
Income Tax Rate
Up to ₹4,00,000 Nil
₹4,00,000 – ₹8,00,000 5%
₹8,00,000 – ₹12,00,000 10%
₹12,00,000 – ₹16,00,000 15%
₹16,00,000 – ₹20,00,000 20%
₹20,00,000 – ₹24,00,000 25%
Above ₹24,00,000 30%

✅ Rebate under 87A up to ₹60,000
✅ Income up to ₹12 lakh tax free (under new regime)

📌 Old regime still available
📌 No change in slab rates for FY 2026-27

3️⃣ Presumptive Taxation Limits
Section 44AD (Business)
Turnover limit: ₹3 crore (digital transactions)
Normal limit: ₹2 crore
Profit declared: 6% (digital) or 8% (cash)
Section 44ADA (Profession)
Gross receipts: ₹75 lakh
Profit declared: 50%

📌 Benefit to small businesses and professionals

4️⃣ ITR Filing Due Dates
ITR Type Due Date
ITR 1 & ITR 2 31 July
ITR 3 & ITR 4 (Non audit) 31 August
Audit cases 31 October

📌 Revised return allowed till 31 March (12 months)

5️⃣ STT Increased (F&O Traders)
Transaction Old New
Options Premium 0.1% 0.15%
Options Intrinsic 0.125% 0.15%
Futures 0.02% 0.05%

📌 Trading cost increased

6️⃣ TCS Changes
Transaction Old New
Scrap 1% 2%
Minerals 1% 2%
Tendu leaves 5% 2%
Education/Medical LRS 5% 2%
Overseas Tour Package 5%–20% 2% flat

📌 Compliance simplified

7️⃣ Sovereign Gold Bond Taxation
Tax free only for original subscribers
Secondary market buyers → Capital Gain Tax applicable

📌 Important for investors

8️⃣ Buyback Taxation

Earlier:

Taxed as dividend

Now:

Taxed as Capital Gain
Individual promoters: around 30%
Companies: around 22%

📌 Important for shareholders

9️⃣ Dividend Interest Deduction Removed

Earlier:

Interest deduction allowed on dividend income

Now:

No deduction allowed

📌 Taxable income will increase

🔟 NRI Property TDS Simplified
PAN-based challan allowed
TAN not required

📌 Easy compliance for property buyers

🔷 GST Latest Updates
1️⃣ GST System More Digital
Automation in compliance
Less manual intervention
Focus on transparency
2️⃣ GST Rate Rationalisation (Expected)
Fewer slabs
Simplified structure
3️⃣ MSME Compliance Focus
Easier GST filing
Faster refunds
IT-driven system
4️⃣ Dispute Reduction System
Faceless and digital governance
Reduced litigation

📌 GST reforms under discussion and implementation phase

31/03/2026

22/03/2026

Not eligible for Composition Scheme under Section 10 of CGST Act.
Check the list of restricted manufacturers before opting for composition.

GST & Income Tax Services (AccoTAX Business Solutions)
Purnia, Bihar | Working on PAN India Basis
Contact Now: 9123656835

21/03/2026

21/03/2026