Employers are required to issue a detailed perquisites statement where salary exceeds Rs.1.5 lakh. This ensures accurate reporting and taxation of employee benefits.
Understand when and how to file an advance ruling application under the Income-tax Act, 2025. The update clarifies eligibility, documentation, and binding effect of rulings.
The issue is whether a separate appeal is required to raise objections. The key takeaway is that Form 116 enables respondents to file cross-objections within existing appeals.
The issue is reporting of donations by non-profits under Section 354(1). The key takeaway is that Form 113 must be filed to enable donor tax deductions.
The issue is whether approval is required to change accumulation purpose. The key takeaway is that Form 110 must be filed and approved before altering the purpose.
The FAQs clarify that filing Form 69 within the due date is a mandatory condition to claim concessional taxation under Section 210(2). Failure to file or incorrect submission can lead to denial of tax benefits. The key takeaway is strict compliance is essential for eligibility.
The guidance clarifies that concessional tax is available only with a mandatory lock-in period. Taxpayers must comply with strict conditions to retain benefits.
Form 52 replaces Form 3CEF and mandates annual APA compliance reporting. It introduces structured disclosures and ensures accurate transfer pricing compliance.
The new Form 48 replaces Form 3CEB and mandates reporting of international and domestic transactions. It enhances structured transfer pricing compliance.
Form 46 allows taxpayers to exercise the option for determination of arm’s length price for international or specified domestic transactions for two tax years.
