Year: 2026

The Finance Bill, 2026 has introduced significant changes to due dates for Income Tax Return (ITR) filing — aimed at improving compliance and easing timelines for taxpayers. 📌 Key Proposed Deadlines (Assessment Year 2026–27): 💠 Original Return Filing * Individuals & HUFs (ITR-1 & ITR-2) — 31 July (unchanged) * Non-Audit Business Cases & Trusts […]

The Union Budget 2026–27, presented by Hon’ble Finance Minister Smt. Nirmala Sitharaman, has introduced significant reforms to the Minimum Alternate Tax (MAT) regime — aimed at simplifying corporate tax compliance and encouraging businesses to migrate to the new tax regime. 🔎 Key MAT Proposals in Budget 2026: • MAT rate reduced to 14% (from existing […]

On 27 January 2026, after nearly two decades of negotiations, India and the European Union (EU) finalized a landmark Free Trade Agreement (FTA) — a deal that has been widely described as the “mother of all deals.” This historic agreement heralds a new phase in economic cooperation between two of the world’s largest economic blocs, […]

Filing an Income Tax Return (ITR) correctly and within timelines is a statutory duty—but genuine errors, omissions, or missed filings do occur. Recognising this reality, the Income Tax Act provides ITR-U (Updated Return)—a powerful provision that allows taxpayers to voluntarily correct past non-compliance, even after normal deadlines have expired. At Corporate Genie, supported by a […]