Income Tax Form Nos. 97 and 98 (Erstwhile Form Nos. 60N and 61N)
CBDT introduces simplified Forms 97 and 98 from April 1, 2026, reducing Form 97 filings and adding supporting document details.
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Income Tax Form Nos. 93 and 94 (Erstwhile Form No. 49A)
CBDT introduces Forms 93 and 94 from April 1, 2026, replacing Form 49A with simplified PAN application forms for individuals and non-individuals.
Income Tax Form Nos. 95 and 96 (Erstwhile Form No. 49AA)
CBDT introduces Forms 95 and 96 from April 1, 2026, replacing Form 49AA for specified foreign applicants with simplified PAN application processes.
Income Tax Form Nos. 134 and 135 (Erstwhile Form No. 49B)
CBDT introduces simplified TAN Forms 134 and 135 under Income Tax Rules, 2026, replacing Form 49B with separate Government and non-Government forms.
Where Two Tax Views Are Possible: Five Limits on Assessee-Favouring Rule
The assessee-favouring rule applies only to genuine statutory ambiguity and has limits for facts, exemptions, conflicting precedents and judicial hierarchy.
Is F&O Profit Covered by Presumptive Taxation – and What Exactly Is “Turnover” for F&O?
F&O trading may qualify under Section 44AD at 6%, while turnover uses absolute trade-wise profits and losses, without separately adding option-sale premium.
Section 48 bars Double Deduction of Interest on Borrowed Capital for House Property
Finance Act 2023 bars Section 48 cost claims for interest already deducted under Section 24(b) or Chapter VIA from AY 2024-25.
Form 143 (Erstwhile 27EQ): TCS Reporting Under Income Tax Act, 2025
CBDT introduces simplified tax forms under the Income-tax Act, 2025, with new formats, quarterly filing timelines and continued use of Form 27EQ for FY 2025–26.
New TDS Forms 138 & 140 Replace Forms 24Q/26Q From FY 2026-27
CBDT introduces Forms 138 and 140 from April 1, 2026, replacing 24Q/26Q with simplified quarterly TDS reporting under the Income-tax Act, 2025.
SFT Reporting Rules, Forms and Penalties Under Income Tax Act 2025
Income Tax Department outlines SFT reporting forms, due dates, transaction thresholds, correction requirements and penalties under the Income-tax Act, 2025.
