Income Tax : The Income-tax Act, 2025 replaces the dividend-based taxation of buy-backs with capital gains taxation for ordinary shareholders, ...
Income Tax : This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also c...
Income Tax : Sections 356-374 restructure appellate provisions with clearer drafting while retaining the existing appeal hierarchy and taxpayer...
Income Tax : Section 270 of the Income-tax Act, 2025 consolidates return processing and scrutiny assessment into one framework while introducin...
Income Tax : The law permits reassessment only where the Assessing Officer has information indicating escaped income and follows the prescribed...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
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 : The Supreme Court set aside the NCLAT order for relying on a non-existent quasi-judicial income tax order. The key takeaway is tha...
Income Tax : Rule 81 prescribes dataset construction, weighted averages, and a 35th–65th percentile arm’s length range when multiple compar...
Income Tax : The latest amendment excludes income arising from transfer of pre-2017 investments from GAAR scrutiny. It reinforces the protectio...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Income Tax : The circular introduces mandatory Form I and Form II for SWFs to claim tax exemptions. The ruling ensures structured application a...
Income Tax : The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enh...
Income Tax : CBDT introduced Income-tax Rules, 2026 to operationalize the Income-tax Act, 2025. The rules standardize procedures on valuation, ...
The new law restructures TDS provisions into Sections 392, 393, and 394, altering compliance procedures. Correct selection of codes and deductee details is crucial to avoid errors and notices.
Dealer incentives like tour packages are taxable as business income under the new law. If TDS is borne by the payer, it must be added as additional income through grossing up.
The new law defines strict conditions for reopening assessments using specified information categories. It ensures transparency and limits arbitrary reassessment powers.
The issue concerns fragmented litigation under the earlier tax regime. The new law integrates multiple proceedings into a unified process, reducing duplication. The key takeaway is that litigation is streamlined rather than eliminated.
The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity, reduces errors, and improves reporting efficiency.
The framework outlines mandatory disclosures and timelines for opting into safe harbour. Key takeaway: strict compliance is essential to gain tax certainty.
The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting reduces excess tax deduction and refunds.
A detailed overview of updated TDS provisions mapping old and new sections, rates, and thresholds. Helps taxpayers understand compliance requirements across all payment categories.
The new tax law addresses long-standing concerns over complexity by reducing provisions and simplifying language. It introduces structural clarity and digital tools to improve compliance while reducing taxpayer burden.
The case highlights how the new framework enforces stricter compliance using data analytics. It underscores that incorrect declarations can trigger penalties and scrutiny
