Form 44 is an e-form for reporting foreign income and claiming foreign tax credit under the Income-tax Rules, 2026, with specified filing timelines and documents.
The amendment permits payment aggregators as a new mode of deposit in the electronic cash ledger. This expands digital payment options and improves ease of compliance.
Maharashtra Government has extended the time limit to file appeals before the Appellate Tribunal for orders communicated before April 1, 2026. The notification ensures taxpayers get a one-time relief window while maintaining standard timelines for new cases.
Form 12 provides certified details of R&D expenditure, enabling authorities to verify deduction claims under section 45(2).
Form 7, prescribed under Rule 30 of the Income-tax Rules, 2026, is a mandatory application for sponsors seeking prior approval of a scientific research programme under section 45(3)(c) of the Income-tax Act, 2025.
Form 2 filing is compulsory to obtain government notification for Zero Coupon Bonds. Without compliance, issuers risk losing critical tax benefits.
The new law preserves existing residency tests and tax benefits for NRIs. It ensures continuity without altering core provisions.
The new law retains the same appellate hierarchy and procedures. Taxpayers can expect consistency without disruption in appeal mechanisms.
The 2025 Act replaces multiple forms with simplified, category-specific formats. It streamlines compliance while retaining continuity for existing registrations.
The AAR held that medicines and consumables supplied during treatment are part of composite healthcare services. As the principal supply is exempt, the entire supply qualifies for GST exemption.
