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GST Policy Wing clarifies which authority acts as reviewing, revisional and appellate authority for orders passed by Common Adjudicating Authorities on DGGI show cause notices — settling the route for departmental appeals before the GST Appellate Tribunal.
CBDT clarifies that notifications granting exemption under section 10(46) of the Income-tax Act, 1961 survive its repeal by section 536 of the Income-Tax Act, 2025 — proceedings for tax years before 1 April 2026 continue under the old Act's procedure.
The Peer Review Board has launched an integrated web portal digitising the entire peer review cycle — application, reviewer allotment, questionnaires and certificate issuance. Online filing is mandatory for all new applications from 2 July 2026.
ICAI Council has extended the applicability of Phase IV of the Peer Review Mandate — covering the remaining categories of practice units — from 1 January 2026 to 31 December 2026, giving smaller firms additional time to prepare.
SEBI has consolidated all SSE directions into a single Master Circular covering NPO registration, disclosure and annual impact reporting, and the role of Social Impact Assessors empanelled through ICAI's Sustainability Reporting Standards Board.
CBDT has amended the Income-tax Rules, 2026, expanding the definition of 'specified fund' under Rule 157 to cover SEBI and IFSCA-regulated investment vehicles — a significant move for fund managers, AIFs and GIFT City structures.
CBDT has notified the District Legal Services Authority, Jind, for income exemption under Section 10(46) and Section 11 of the Income-tax Act, 1961, clarifying its tax status for the relevant assessment years.
GST Policy Wing has constituted a Working Group to examine centralized administration of taxpayers, aiming to reduce compliance friction for multi-state businesses and improve administrative efficiency.
ICAI has alerted members and students regarding unauthorized access attempts to ICAI digital platforms and advised use of strong credentials, two-factor authentication and vigilance against phishing.
ICAI has announced that further implementation of the Global Networking Guidelines, 2025 has been kept in abeyance until further orders, following representations from large audit firms and stakeholders.
Under Schedule V of the Income-Tax Act, 2025, CBDT has notified the Social Protection Fund as an eligible tax-exempt investor up to 31 March 2030 — expanding the pool of sovereign-style investors entitled to exemption on specified capital gains and interest income.
Issued under section 400(1) read with section 147 of the Income-Tax Act, 2025, the notification exempts specified payments made to eligible IFSC units from TDS deduction — a key relief for GIFT City-based finance companies, fund managers, and aircraft leasing entities.
ICAI has released the Exposure Draft of the Guidance Note on Tax Audit under section 44AB for AY 2026-27, aligning Form 3CD reporting with the Income-Tax Act, 2025 renumbering, revised clause-wise commentary, and updated illustrative disclosures.
MCA has extended the Companies Compliance Facilitation Scheme up to 31 August 2026, giving companies and LLPs a further window to regularise overdue filings, DIN KYC, and event-based forms with reduced additional fees.
GST Policy Wing clarifies the jurisdictional authority for adjudication, refunds, and appeals where a taxable person has migrated or been transferred between Commissionerates — resolving pending SCN and refund disputes for multi-state assessees.
MCA has notified 26 May 2026 as the commencement date for specified provisions of the Insolvency and Bankruptcy Code (Amendment) Act, 2026, introducing reforms to corporate insolvency resolution and liquidation processes.
SEBI has eased registration requirements for Not-for-Profit Organizations on the Social Stock Exchange and reduced the minimum subscription for Zero Coupon Zero Principal instruments, boosting NPO participation.
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