GSTN launches offline Excel-based utility to boost Invoice Management System for greater accuracy in ITC claims; Here’s how it can help

GSTN has launched a new offline Excel utility for its Invoice Management System (IMS), aiming to boost accuracy in Input Tax Credit (ITC) claims. This tool allows taxpayers to process and upload IMS data offline, enabling bulk actions like accepting or rejecting invoices. Experts believe this will simplify compliance and encourage wider adoption of the IMS.

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Government is considering one-day extension of GSTR-3B filing due date

The GST Network has apologised for technical difficulties hindering GSTR-3B filings for the March 2026 tax period. Many chartered accountants reported portal issues, leading the government to consider a one-day extension for the April 20th deadline to April 21st. Taxpayers faced payment reflection delays and potential late fees and interest due to these persistent glitches.

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Has the GSTR-3B return filing due date for the March 2026 tax period been extended?

Tax professionals are struggling to file GSTR-3B for March 2026. The GST portal is experiencing significant slowdowns, preventing logins and filings. This is causing concern as missed deadlines can lead to severe consequences, including the suspension of GST numbers. An interim fix was previously suggested for a similar issue in February 2026.

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Buying property above Rs 45 lakh without a PAN? You must use new Form 97, says Income Tax Department

The Income Tax Department has introduced a new Form 97, replacing Form 60, for individuals without a PAN card undertaking specific transactions. This includes buying property above Rs 45 lakh, opening bank accounts, and making certain cash payments. The revamped forms aim to simplify compliance, with reduced reporting expected for these declarations.

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Is tax clearance mandatory before foreign travel? What the Income-Tax Act, 2025 says

The introduction of Form 157 and Form 159 under the Income-Tax Rules, 2026 has sparked confusion over whether tax clearance is now mandatory for all Indians travelling abroad. However, a closer reading of Section 420 of the Income-Tax Act, 2025—read with Section 536 and CBDT Instruction No. 1/2004—makes it clear that no such blanket requirement exists.

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India Inc salary restructuring: How new labour codes and income tax rules will impact take-home pay and retirement savings

Salaried employees face uncertainty as new labor codes and tax rules loom. Companies are preparing for changes, but widespread implementation is delayed pending final government notifications. The shift towards a fixed-heavy salary structure, with higher basic pay, may reduce take-home salaries while boosting long-term retirement savings.

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Meal vouchers at Rs 200 per meal: Who gets income tax benefit and how the ‘working hours’ rule applies

The increase in the tax-exempt limit for employer-provided meals to ₹200 per meal under Rule 15 of the Income-Tax Rules, 2026 marks a significant shift from the earlier ₹50 cap. However, the real issue lies not in the quantum of the benefit, but in the interpretation of the rule—particularly the condition that meals must be provided “during working hours.

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Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled it

An Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal, Chennai, has now cancelled this penalty. The tribunal ruled that the omission was accidental and bona fide, especially as it was the first year of the reporting requirement.

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Form 121 for EPF members: EPFO clarifies who needs to file new form instead of Forms 15G, 15H

The Employees’ Provident Fund Organisation (EPFO) has replaced Forms 15G and 15H with a single Form 121, effective April 1, 2026, under the new Income-tax Act, 2025.

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ITR assessment rules change from April 2026: Four key amendments explained

Four key changes to Income Tax Return (ITR) assessment rules will be effective from April 2026 for Tax Year 2026-27. These amendments, introduced in the Finance Bill, 2026, aim to enhance efficiency and transparency in tax assessments. The changes cover tax notices, DIN in communications, assessment completion timelines, and block assessments.

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New Form 141 introduced for TDS filing: 4 existing forms merged into one challan-cum-statement

The Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form simplifies TDS filing for various transactions including rent, property purchase, professional payments, and virtual digital asset transfers. It aims to enhance clarity and reduce duplication in reporting.

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Gratuity may rise under New Labour Code, but your income tax bill could too

The Code on Social Security, 2020 expands the wage base for gratuity, potentially increasing payouts, but tax rules under the Income-tax Act, 1961 and the Income-tax Act, 2025 still rely on basic pay plus DA. With the Payment of Gratuity Act, 1972 now subsumed, this mismatch could make part of the higher gratuity taxable—highlighting the need for alignment between labour and tax laws.

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New ITR forms alert: Secondary address field added, what taxpayers must know

New Income Tax Return forms are here for Assessment Year 2026-27. A key change is a new field for a secondary address. Contact details are now primary and secondary. Reporting for representative assessees is simplified. The need to split capital gains based on transfer dates before or after July 23, 2024, has been removed.

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