Legal Suvidha is a registered trademark. Unauthorized use of our brand name or logo is strictly prohibited. All rights to this trademark are protected under Indian intellectual property laws.
Legal Suvidha
Back to Updates
LatestIncome Tax 10 July 2026

Tax Updates 2026

India aims to become an AI solutions hub with the IT secretary stressing skills and GCC growth, while SEBI amends municipal debt norms and introduces ESG bonds. The income tax department has also granted exemptions to NCCL's core settlement guarantee fund, and there are updates on tax refunds, penalties, and notices. The government is also focusing on skilling and education in the field of AI, and there are changes in tax laws and regulations, including GST ITC eligibility and validity of common multi-year tax notices.

India is taking steps to become an AI solutions hub, with the IT secretary emphasizing the importance of skills and GCC growth.
- The Securities and Exchange Board of India (SEBI) has amended its municipal debt norms to include ESG bonds and SPV pooled financing.
- The income tax department has granted exemptions to NCCL's core settlement guarantee fund for AYs 2019-20 to 2026-27.
- There are updates on tax refunds, penalties, and notices, including the possibility of refunds for COVID-era tax penalties.
- The government is also focusing on skilling and education in the field of AI, with the introduction of new courses and training programs.
- Changes in tax laws and regulations include GST ITC eligibility and validity of common multi-year tax notices.
- The Karnataka High Court is examining GST ITC eligibility and the validity of common multi-year tax notices.
- The CBDT has granted income-tax exemption to NCCL's core settlement guarantee fund for AYs 2019-20 to 2026-27.

Need help understanding this update?

Connect with our domain experts instantly via WhatsApp for customized legal guidance.

Chat on WhatsApp

* May contain AI generated content. Please verify the required details.

Tax Updates 2026 | Legal Suvidha