The FAQs clarify that OPCs and Small Companies are governed primarily by Rule 8A for Board’s Report disclosures instead of the detailed requirements under Rule 8. They also explain the continuing applicability of Section 134(3) where no specific exemption exists.

The FAQs explain the prosecution provisions under the Income-tax Act, covering offences such as tax evasion, non-payment of TDS/TCS, false statements, and non-filing of returns. They also outline punishments, exceptions, and situations where prosecution may not be launched.

The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiring personal interaction. The FAQs also cover notices, responses, rectification requests, and outstanding demand procedures.

The Income Tax Department has issued detailed FAQs explaining the meaning, computation, and tax treatment of agricultural income under Section 2(1A) and the Income-tax Rules. The guidance also clarifies exemptions, partial integration, and capital gains on agricultural land.

The Income Tax Department has clarified the purpose, contents, and access to the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). The FAQs explain how taxpayers can verify financial information and submit feedback to ensure accurate income tax return filing.