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 replaces the 1961 Act with a simplified, structured tax system. It reduces compliance burden through streamlined forms and clearer provisions effective April 2026.
Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key takeaway is that proper documentation ensures compliance and prevents unnecessary tax deduction.
Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the correct tab under the applicable law.
A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal highlights improved efficiency, accuracy, and centralized monitoring.
The new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but compliance requires system updates.
The ruling confirms that in matters of undisclosed foreign assets, the Black Money Act prevails over general tax provisions. This ensures stricter enforcement.
The case clarifies that only specified adjustments can be made while computing book profit under MAT. The ruling limits arbitrary additions by tax authorities. Key takeaway: MAT computation is strictly rule-based.
Key mistakes taxpayers should avoid when choosing between old and new tax regimes for FY 2026-27, including deductions, deadlines, and compliance.
The new law introduces a structured framework for NPO registration, income application, and taxation. It simplifies compliance but imposes stricter monitoring and penalties.
Form 41 is now compulsory for non-residents claiming DTAA benefits, replacing Form 10F. The update mandates online filing and ensures standardized disclosure for availing treaty benefits.
