Rule 57 of the Draft Income-tax Rules, 2026 prescribes specific methods for determining Fair Market Value of jewellery, shares, artistic works, and immovable property to ensure standardized and transparent valuation.
Draft Rules 54 to 56 require accountant certification for slump sales and fix a 15% or Rs.10 lakh threshold for reference to Valuation Officers. They also define key FMV terms, including balance sheet, merchant banker, securities, and valuation date for specific sections.
GST’s fully digital compliance system has improved transparency but created challenges in areas with limited digital infrastructure. The piece assesses how portal dependence and amendment fatigue affect small business sustainability.
SEBI has modified Chapter IX of the NCS Master Circular to align green debt certification rules with broader ESG debt norms. Issuers must appoint independent, conflict-free ESG experts with clear disclosure obligations.
RBI’s Amendment Directions enable NUCFDC to raise capital beyond statutory private placement limits. The decision ensures broader participation by UCBs while mandating reporting and regulatory compliance.
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.
