Income Tax News
Income Tax
Non-ITR-1 Returns Rise to 62% as Income Sources Diversify
Non-ITR-1 filings reach 62% in AY 2026-27 as more Indians report income from investments, freelancing and business activities, ClearTax data shows.
FAST-DS 2026: UAE Property Owners Urged to Disclose Assets
India’s Income-Tax Department is contacting selected UAE property owners to encourage foreign asset disclosures under FAST-DS 2026, with applications due by December 31.
Budget 2027-28: LTCG Tax Cut and Dollar-Based Taxation
Budget 2027-28 may bring a lower 12.5% LTCG tax rate and dollar-based taxation for foreign investors, as the government reviews ways to attract capital.
ITR Deadline Extended to November 21 for Audit Cases
ITR deadline extended to November 21 for specified audit cases, while the tax audit report deadline moves to October 21, 2026.