Updates

ICAI has stated that there were repeated unsuccessful attempts to gain unauthorized access to its digital portals and information systems, and warned that such acts are punishable under the Information Technology Act, 2000 and other laws. It advised members and students to use only official ICAI channels and to be alert to phishing and fake websites or apps.

ICAI has announced that further implementation of the ICAI (Global Networking) Guidelines, 2025, which were notified earlier in 2026, is being kept in abeyance until further orders. The update concerns members and firms that would have been governed by these networking rules.

Notification No. 80/2026 provides that certain payments such as interest, dividends, professional fees, commission and brokerage received by eligible units in an International Financial Services Centre are not subject to tax deducted at source. The relief applies to qualifying IFSC units and to the persons making such payments to them.

Income tax return utilities for AY 2026-27 released on the e-filing portal

The Income Tax Department has made available the online and Excel filing utilities for several income tax return forms, including ITR-3, ITR-5 and ITR-7, for Assessment Year 2026-27. These tools let individual and non-individual taxpayers prepare and file their returns for the year.

ICAI issues exposure draft of guidance note on tax audit under section 44AB

ICAI has published an exposure draft of a revised guidance note on tax audit under section 44AB of the Income-tax Act, 1961 and invited comments from the public. It is aimed at chartered accountants who carry out tax audits and other stakeholders who wish to give feedback.

TDS not required on aircraft and ship lease rent paid to IFSC units

Notifications No. 74/2026 and No. 75/2026 provide that tax need not be deducted at source on aircraft lease rent and ship lease rent paid to units in an International Financial Services Centre. The measure affects lessees making these payments and the IFSC units receiving the lease rent.

CBDT allows condonation of delay in filing Form 10AB for approval under section 80G(5)

Circular No. 06/2026 permits condonation of delay in the electronic filing of Form 10AB, which trusts and institutions use to seek approval under section 80G(5) of the Income-tax Act. It affects charitable and religious organisations that missed the original deadline for filing this form.

ICAI seeks public comments on proposed stipend rates for articled assistants

ICAI has invited suggestions and objections on proposed stipend rates for articled assistants undergoing practical training under the new scheme of education and training, with draft amendments published in the Gazette of India. Stakeholders, including students and practising members, can submit their feedback within the stated consultation period.

Second set of statutory forms under Income Tax Rules, 2026 enabled on portal

The Income Tax Department has rolled out a further set of statutory forms prescribed under the Income Tax Rules, 2026 on its e-filing portal. This affects taxpayers and professionals who need to file these forms electronically as part of their compliance.

GST e-Way Bill portal: Ship To GSTIN made mandatory and voluntary closure added

GSTN has updated the e-Way Bill system so that the Ship To GSTIN field must be filled in Bill-To/Ship-To transactions, with URP entered where the consignee is unregistered, and has introduced an optional facility to close an e-Way Bill once goods are delivered. These changes affect all registered taxpayers, transporters and ERP or API users and take effect from 1 August 2026.