Draft Income-tax Rule 60 permits carry forward of accumulated loss and unabsorbed depreciation in amalgamation only if 50% installed capacity is achieved and maintained, with mandatory Form 29 certification and scope for government relaxation.
Draft Rule 59 of the Income-tax Rules, 2026 prescribes a formula-based method to compute taxable income from life insurance payouts under Section 92(2)(l), ensuring premiums already claimed as deductions are not reduced again.
Draft Rule 58 of the Income-tax Rules, 2026 excludes certain asset transfers from Sections 92(3)(i) and 79 where specified restructuring, regularisation, or disinvestment conditions are fulfilled.
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.
ICAI has established a new branch in Korba under Regulation 159 to expand its regional presence. The move enhances administrative reach and professional engagement in nearby areas.
Rule 25 restricts depreciation to 40% WDV for specified taxpayers opting for concessional tax regimes. The rule clarifies computation method and eligibility conditions.
