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Income Tax : The Income-tax Act, 2025 has officially replaced the Income-tax Act, 1961 from 1st April 2026. The new law focuses on simplified l...
Income Tax : The Income Tax Act 2025 has overhauled the 1961 law by introducing new section numbers, a unified “Tax Year,” and simplified c...
Income Tax : The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendme...
Income Tax : The ITAT Surat held that agricultural land qualifies as “immovable property” under Section 56(2)(x) since the provision covers...
Income Tax : Businesses now face stricter seller-wise tracking, PAN verification, and reconciliation obligations under TDS on purchase provisio...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : ITAT Bangalore held that sale of 25 plots did not amount to an adventure in the nature of trade because the properties were held f...
Income Tax : The Tribunal held that joint ownership alone cannot restrict Section 54 deduction where the entire source of investment for the ne...
Income Tax : The Tribunal ruled that under-reported income must be calculated as the difference between assessed income and income processed un...
Income Tax : The Tribunal deleted penalty under Section 271(1)(c) after substantially deleting the unexplained cash credit addition under Secti...
Income Tax : The Tribunal observed that delays in completion of housing projects by builders cannot deprive a taxpayer of Section 54 benefits w...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
The Budget unveils ISM 2.0 with fresh funding to deepen domestic semiconductor capabilities across design, materials, and equipment. The move targets resilient supply chains and skilled workforce development.
The Budget combines strong capital spending with wide-ranging tax simplification measures. The key takeaway is reduced litigation and easier compliance without compromising fiscal discipline.
The Bill proposes later return filing deadlines, longer revision windows, and electronic TDS certificate mechanisms. The key takeaway is reduced compliance pressure and fewer procedural disputes.
With stable tax slabs and surcharges, the Bill focuses on ease of living through extended deadlines, electronic processes, and clearer TDS rules. The emphasis is on certainty and voluntary compliance rather than higher taxation.
Stakeholder-wise and thematic overview of Budget 2026 tax reform proposals covering farmers, MSMEs, corporates, NRIs, exporters, and households, with focus on tax certainty, ease of compliance, and trade facilitation.
The Budget introduces a six-month window to declare undisclosed foreign assets or income. Eligible disclosures receive limited relief from penalty and prosecution upon payment of prescribed tax or fee.
The Budget introduces exemptions, lower TCS rates, and simplified compliance to reduce taxpayer burden. Key relief includes tax-free MACT interest and extended timelines for return revision.
The Budget confirms that the Income Tax Act, 2025 will take effect from 1 April 2026 with redesigned rules and forms. The move aims to simplify understanding and improve voluntary compliance.
The Finance Bill proposes taxing buy-back consideration as capital gains instead of dividends. The key takeaway is reduced tax burden for non-promoter shareholders and clearer alignment with capital gains principles.
The Budget outlines a reform-driven roadmap centred on manufacturing, infrastructure expansion, and fiscal discipline. The key takeaway is a sustained push for long-term growth backed by targeted investments and structural reforms.
