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Latest Updates

Important tax and regulatory changes — explained simply, with what they mean for you.

CoveringFEMA / International2GST2Income Tax2

Important tax updateIncome TaxCBDT · Income Tax · 29 September 2026

Tax audit and ITR due dates extended for AY 2026-27

CBDT has extended the specified date for furnishing audit reports for AY 2026-27 from 30 September 2026 to 21 October 2026, and the related income-tax return due date from 31 October 2026 to 21 November 2026. The extension applies to the category of persons whose accounts must be audited, not to every taxpayer.

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Audit report due (extended)

21 October 2026

Return of income due (extended)

21 November 2026

What this means

Three extra weeks for the audit report and three extra weeks for the return that follows it. The two dates moved together, so the usual gap between furnishing the audit report and filing the return is preserved.

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GST16 October 2026
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GST13 October 2026
GSTR-9 and GSTR-9C for FY 2025-26 are now open on the GST portal
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GSTR-9 / 9C for FY 2025-26 enabled on the portal
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FEMA / International10 October 2026
RBI tightens rules on currency hedging: USD 5 million limit without proof of exposure, no rebooking of cancelled contracts, and a new 20% reserve
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Circular 25 in force; Circular 26 applies to contracts after issue
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FEMA / International22 September 2026
Export proceeds: nine months to realise and repatriate under the new FEMA export regulations from 1 October 2026
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Authority
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New export regulations and the nine-month period in force
1 October 2026
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Income Tax14 August 2026
FAST-DS 2026: last date for a foreign-asset declaration is 31 December 2026
The FAST-DS Rules, 2026 (Notification No. 114/2026, G.S.R. 732(E), 14 August 2026) came into force on 16 August 2026. Rule 2(4) fixes the scheme's last date as 31 December 2026. A declaration under the Foreign Assets of Small Taxpayers Disclosure Scheme must be made on or before that date.
Authority
CBDT · Income Tax
Last date for a FAST-DS declaration
31 December 2026
Read update

Latest Updates

Tax audit and ITR due dates extended for AY 2026-27

Latest updates

E-invoicing is being extended to reverse-charge self-invoices: GSTN adds RCMDOM and RCMIMP

GSTR-9 and GSTR-9C for FY 2025-26 are now open on the GST portal

RBI tightens rules on currency hedging: USD 5 million limit without proof of exposure, no rebooking of cancelled contracts, and a new 20% reserve

Export proceeds: nine months to realise and repatriate under the new FEMA export regulations from 1 October 2026

FAST-DS 2026: last date for a foreign-asset declaration is 31 December 2026