Indian tax liability for NRIs depends on residential status, not citizenship. The key takeaway is that only India-sourced income is taxable for non-residents.
The Budget keeps tax rates unchanged while introducing structural reforms to improve certainty and predictability. The key takeaway is stability paired with targeted simplification to reduce disputes.
Courts have held that reopening an assessment on identical facts under a different deeming provision is invalid. The key takeaway is that reassessment cannot be based on a mere change of opinion.
The regulator has required IFSC finance companies serving external clients to maintain a website. The move aims to enhance transparency and consumer awareness.
The notification substitutes tariff value tables under the Customs Act for key commodities. It reaffirms existing tariff values and provides clarity on valuation benchmarks effective 4 February 2026.
The analysis explains how activities of a liaison office can trigger PE exposure despite regulatory approval. Taxability depends on substance, not designation, under treaty principles.
Multiple notifications and circulars issued during the week implemented Budget 2026 measures across direct and indirect taxes. The updates impact compliance, exemptions, refunds, automation, and enforcement.
The Tribunal held that an appeal should not be rejected merely due to long delay when sufficient cause is shown. It ruled that technicalities cannot defeat substantial justice and restored the matter for decision on merits.
The court held that amounts credited due to a clerical RTGS error cannot be retained or recovered as tax dues when they do not belong to the account holder. Recovery provisions were ruled inapplicable, and the bank was directed to refund the money to the remitter.
Income-tax slabs remain unchanged, but timelines for filing and revising returns are extended to ease compliance. The Budget prioritises certainty through simplified processes rather than rate cuts.
