The Budget 2026 proposes shifting buyback taxation from dividend to capital gains. Promoters will face an additional tax to prevent tax arbitrage in corporate payout decisions.
The updated TDS provisions reorganize multiple earlier sections into a simplified framework covering salary, resident payments, non-resident payments, and gaming transactions.
The revised FDI policy formally defines “beneficial owner” using anti-money laundering standards, bringing clarity to investment approval requirements for investors linked to neighbouring countries.
The regulator suggests making nomination the default option in single-holder accounts, requiring investors to actively opt out to simplify succession and reduce unclaimed assets.
The new tax law formally embeds faceless assessments into the statute, replacing the earlier scheme-based system and making electronic tax scrutiny the default process.
The Tribunal held that capital gains arising from property transferred to a spouse without consideration must be taxed in the transferor’s hands under Section 64(1)(iv). Reassessment was invalid as the income had already been taxed in the husband’s return.
The Gujarat High Court stayed a tax adjudication order after discovering that the officer relied on inaccurate case law citations without independent verification.
Courts have clarified that Section 79 of the GST law is a recovery mechanism that can be invoked only after tax liability is adjudicated or self-assessed and remains unpaid.
The document outlines a certificate format where the recipient confirms reversal of Input Tax Credit related to credit notes issued for post-supply discounts and sales returns under GST law.
The GST law permits inspection, search and seizure only when a senior officer has reasonable grounds to suspect tax evasion, ensuring safeguards for taxpayers.
