Draft Rule 141 prescribes a component-wise formula for computing exempt income of specified funds attributable to offshore banking unit investment divisions, while disallowing related expenditure deductions and mandating Form 70 compliance.
Draft Rule 142 mandates separate accounts, audit in Form 71, and strict documentation for offshore banking investment divisions, making exemption under Schedule VI conditional on compliance.
Draft Rule 143 prescribes a five-component aggregation formula for computing income of offshore banking investment divisions under section 210(3), making concessional tax rates conditional on Form 70 filing and compliance.
Draft Rule 144 requires non-sponsor unit holders who become residents to exit within three months and mandates detailed record-keeping, failing which exemption under Schedule VI will be denied.
Draft Rule 145 mandates specified entities to file electronically verified income statements with tax authorities and recipients by fixed June deadlines, ensuring compliance and transparency under sections 221 to 224.
Draft Rules 130–132 of the Income-tax Rules, 2026 prescribe mandatory time limits, detailed Approving Panel procedures, and remuneration norms to ensure transparency and time-bound action under section 274 proceedings.
Draft Rules 133 and 134 require businesses above ₹50 crore turnover to offer specified digital payment modes and mandate Form 65 filing to opt for patent royalty taxation benefits under section 194.
Rule 135 lays down a precise formula-based method to compute net winnings from online games for TDS purposes, clarifying treatment of deposits, withdrawals, bonuses, and multiple accounts.
Rules 136–138 require taxpayers to exercise or withdraw the new tax regime option through the income tax return and mandate Forms 66 and 67 for accountant reports under section 206.
Draft Rule 139 of the Income-tax Rules, 2026 prescribes a formula-based method to compute exempt income of specified funds attributable to non-resident unit holders. Exemption is conditional upon proportionate AUM ratios and mandatory filing of Form 68.
