Rule 25 restricts depreciation to 40% WDV for specified taxpayers opting for concessional tax regimes. The rule clarifies computation method and eligibility conditions.
Rule 24 specifies ownership, government agreement, and operational conditions for a public facility to qualify as an infrastructure facility under Section 32(e), ensuring regulated tax benefits.
Rule 23 introduces a calendar month-based formula for computing the pro rata discount on zero coupon bonds, ensuring accurate year-wise taxation under Section 32(d).
Rules 19 and 20 of the Draft Income-tax Rules, 2026 prescribe an ₹8 lakh gross total income threshold and lay down strict eligibility and compensation limits for claiming deduction on voluntary retirement or separation, ensuring controlled tax relief.
Rule 21 defines unrealised rent as unpaid and irrecoverable rent subject to eviction, non-occupation, and recovery conditions, strengthening evidentiary standards. Rule 22 standardizes the computation of aggregate average advances for rural branches by mandating month-end aggregation and systematic averaging.
This analysis explores how income tax systems attempt to reconcile equal treatment of similarly placed taxpayers with progressive redistribution based on ability to pay. It highlights structural tensions between neutrality and fairness, emphasizing the need for balanced tax design.
GSTN introduces an online facility allowing eligible active taxpayers to opt out of Rule 14A registration by filing Form GST REG-32, subject to return and Aadhaar authentication conditions.
Rules 17 and 18 of the Draft Income-tax Rules, 2026 prescribe a ₹4 lakh salary benchmark and lay down detailed hospital and disease conditions for claiming medical perquisite exemptions, ensuring regulated and transparent tax benefits.
Explains how GST replaced multiple taxable events with the single concept of “supply,” defining tax liability, timing, and jurisdiction under India’s unified indirect tax regime.
Rule 16 of the Draft Income-tax Rules, 2026 introduces a structured formula to tax interest and similar income earned on employer contributions exceeding ₹7.5 lakh to specified funds, ensuring clarity and preventing tax-free accumulation.
