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WEEKLY TAX UPDATES

Dear Reader,
Greetings for the day!!!
We are pleased to share the recent Tax notification and circulars.

Direct Tax
S.no Description
1
CBDT specifies the Secretary, ITE&C, Government of Andhra Pradesh as the designated authority under Section 258(1)(b) of the ITA, 25.
 
Notification-118-2026_dtd_09.09.26
2
CBDT prescribes format, procedure, and guidelines for submission of half-yearly SFT reporting by depositories.
 
Notification_1_sft_dtd_10.09.26
3
CBDT prescribes format, procedure, and guidelines for half-yearly SFT reporting by SEBI-registered RTAs.
 
Notification_2_sft_dtd_10.09.26
4
CBDT approves IIT Roorkee for scientific research tax benefits for FY 2026-27 to 2030-31, subject to prescribed compliance and donation reporting requirements.
 
Notification-119-2026_dtd_14.09.26
5
CBDT prescribes Form 98 registration, filing, correction/deletion and security procedures, while Form 61 continues for FY 2025-26 and earlier years
 
Notification-3_dtd_15.09.26
6
CBDT authorises DGIT(Systems), Delhi to share specified taxpayer details with Ministry of Petroleum & Natural Gas including ITR filing, Government services, income threshold, tax payable and Professional Tax status.
 
Order_u/s-258_dtd_15-9-2026
7
CBDT amends the Income-tax Rules, 2026, revising provisions and forms for valuer and authorised income-tax practitioner registration, and extends specified dates to 31 March 2027.
 
Notification-120-2026_dtd_17.09.26
8
Supreme court stayed Punjab & Haryana High Court judgment declaring Section 147A of ITA 1961 amendment unconstitutional.
 
Supreme courtOrder_dtd_18-09-2026
9
CBDT extends due date for furnishing Return of Income for AY 2026-27 in respect of persons subject to audit to 21st November 2026.
 
CBDT Press Release
 
We trust you will find this Journal informative as well as useful.
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Disclaimer: This insight is meant for informational purposes only and should not be considered as advice or opinion.

Best Regards!
Knowledge Updates Team
AKGVG & Associates (Chartered Accountants)

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