Income Tax : The Income Tax Act, 2025 replaces old reassessment provisions with Sections 279 to 286 and increases reopening timelines in certai...
Finance : The amended Finance Bill 2026 abolishes the Tax Recovery Officer’s power to arrest and detain taxpayers for recovery of dues. Th...
Income Tax : The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ru...
Income Tax : The article explains how Section 115BAE offers newly established co-operative societies a concessional 15% tax rate for manufactur...
Income Tax : The Income-tax Act, 2025 replaces old Sections 68 to 69D with a simplified sequential structure under Sections 102 to 106. The cha...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentialit...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : ITAT Delhi held that the assessee was covered under the search proceedings even though its name did not specifically appear in the...
Income Tax : Bangalore ITAT ruled that only solar days and not cumulative man-days should be considered while determining the existence of a Pe...
Income Tax : SC examined nature of amounts received from an AOP and upheld findings that receipts constituted profit share rather than revenue ...
Income Tax : The Rajasthan High Court held that the benefit of Section 115BAA could not be denied when Form 10-IC was filed within the period p...
Income Tax : The Court held that the petitioner had no connection with the entities or individuals from whose devices the disputed material was...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cros...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The CBDT introduced Form ITR-U to allow taxpayers to update previously filed returns. The amendment promotes voluntary compliance ...
Income Tax : The CBDT has substituted the ITR-V form to strengthen verification of electronically filed returns. The amendment enhances accurac...
Form 2 filing is compulsory to obtain government notification for Zero Coupon Bonds. Without compliance, issuers risk losing critical tax benefits.
A ll about Income Tax Form No. 1- Monthly Statement to be furnished by a stock exchange in respect of transactions in which client codes have been modified after registering in the system for the month of
Assessments, appeals, rectifications, and search-related proceedings for earlier years remain governed by the old law. This avoids retrospective application of new provisions. It ensures fairness and consistency in adjudication.
The new law preserves existing residency tests and tax benefits for NRIs. It ensures continuity without altering core provisions.
Losses computed under the earlier law can be carried forward under the new Act. However, eligibility depends strictly on compliance with original provisions. Ineligible or belated losses cannot be revived.
The new law retains the same appellate hierarchy and procedures. Taxpayers can expect consistency without disruption in appeal mechanisms.
The new Act retains existing TDS rates and thresholds while reorganising provisions. It prioritises simplification and clarity without altering tax liability. This ensures continuity in tax treatment despite legislative reform.
The framework mandates show-cause notice, taxpayer response, and approval before reopening assessments. It strengthens procedural fairness while ensuring proper scrutiny of escaped income.
The 2025 Act replaces multiple forms with simplified, category-specific formats. It streamlines compliance while retaining continuity for existing registrations.
The new Act retains the existing return filing framework, including due dates and compliance requirements. Returns for earlier years continue under the old law, ensuring continuity.
