ICAI introduces a new system allowing candidates to directly select their preferred examination centre in the online form for May 2026 CA exams, though final allotment remains with the Institute.
The Court clarified that mere pendency of information exchange requests under DTAA cannot justify continuing a Look Out Circular. Where assessments are quashed and no tax liability exists, indefinite travel restriction is unconstitutional.
Draft Rules 290–292 of the Income-tax Rules, 2026 specify audit report formats under Schedules IX and X and prescribe the mandatory investment pattern for provident fund contributions.
Rule 289 of the Draft Income-tax Rules, 2026 lays down operational rules for electoral trusts, requiring transparent contributions, prohibiting foreign funding, and mandating distribution of at least 95% of funds to eligible political parties.
Rule 288 of the Draft Income-tax Rules, 2026 outlines the conditions for setting up Infrastructure Debt Funds to claim tax exemption under Schedule VII.
Rules 286 and 287 of the Draft Income-tax Rules, 2026 outline approval requirements for employee welfare funds and define when institutions are considered substantially financed by the Government.
Rule 285 of the Draft Income-tax Rules, 2026 explains how exempt capital gains for specified funds are computed using a prescribed formula and mandatory reporting forms.
Rule 284 of the Draft Income-tax Rules, 2026 exempts income of non-residents from certain derivative transactions in IFSCs, provided contracts are not linked to a permanent establishment in India.
Rule 283 of the Draft Income-tax Rules, 2026 prescribes formulas to compute minimum investment percentages and exempt income for infrastructure investments through AIFs, domestic companies, and NBFCs under Schedule V.
Rule 282 of the Draft Income-tax Rules, 2026 sets conditions for foreign pension funds seeking notification in India, including regulatory requirements, reporting obligations, and restrictions on asset usage.
