Rule 289 of the Draft Income-tax Rules, 2026 lays down operational rules for electoral trusts, requiring transparent contributions, prohibiting foreign funding, and mandating distribution of at least 95% of funds to eligible political parties.
Rule 284 of the Draft Income-tax Rules, 2026 exempts income of non-residents from certain derivative transactions in IFSCs, provided contracts are not linked to a permanent establishment in India.
Rule 283 of the Draft Income-tax Rules, 2026 prescribes formulas to compute minimum investment percentages and exempt income for infrastructure investments through AIFs, domestic companies, and NBFCs under Schedule V.
Rule 282 of the Draft Income-tax Rules, 2026 sets conditions for foreign pension funds seeking notification in India, including regulatory requirements, reporting obligations, and restrictions on asset usage.
SEBI has introduced a new reporting framework for Alternative Investment Funds requiring an annual comprehensive report and limited quarterly filings. The move aims to reduce compliance costs while improving regulatory oversight.
Draft Rule 240 requires financial institutions to follow detailed due diligence procedures, including self-certification and account review, to identify reportable accounts and determine tax residency for global information reporting.
Draft Rule 239 requires reporting financial institutions to maintain and report detailed information on reportable accounts, including account holder identity, balances, and income transactions, with annual filing by 31 May to ensure tax transparency.
Draft Rule 238 of the Income-tax Rules, 2026 provides detailed definitions of financial accounts, financial institutions, reportable persons, and related terms to ensure proper identification and reporting of accounts under international tax compliance rules.
Draft Income-tax Rules 2026 introduce Rule 236 and Rule 237 requiring film producers and specified persons to file Form 164 and reporting entities to submit financial transaction statements in Form 165.
Draft Income-tax Rules 2026 introduce Rule 234 and Rule 235 requiring non-resident liaison offices to file annual statements and Indian concerns to report indirect foreign share transfers.
