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 case highlights that TDS applies to multiple income categories including salary, interest, and contracts. It reiterates that failure to deduct or deposit TDS results in assessee-in-default consequences and penaltie
The 30% Disallowance Trap in Section 35(b) of the Income Tax Act, 2025: When a Wrong TDS Payment Code Under Section 393 Triggers Full Business Expenditure Disallowance — The Code 1026 vs. Code 1027 Paradox The Income Tax Act, 2025, effective from 1st April 2026, consolidates all non-salary TDS obligations into a single Section 393, […]
The new tax framework significantly reduces complexity by cutting sections, rules, and forms. It improves readability through structured drafting and modern presentation.
The Supreme Court has allowed taxpayers to challenge retrospective amendments validating JAO reassessment actions. It stayed ongoing proceedings while keeping all constitutional issues open.
The provision safeguards refunds, losses, credits, and pending proceedings under the old law. It prevents disruption caused by repeal of the 1961 Act. The key takeaway is that existing rights and liabilities remain fully intact.
The new law reorganizes provisions and introduces clearer section mapping for business income. It simplifies compliance while retaining core taxation principles.
Learn how Form 121 helps eligible taxpayers stop TDS on bank interest. The key is ensuring your estimated tax liability is nil and conditions are satisfied.
The new Act retains the arm’s-length principle but introduces refined definitions, stricter compliance, and enhanced penalties for related-party transactions.
The new Act removes the confusion between Previous Year and Assessment Year by introducing a unified Tax Year system. This simplifies tax reporting and reduces common errors. The key takeaway is improved clarity and ease of understanding for taxpayers.
The provision grants full deduction of profits for eligible start-ups for three years. The key takeaway is that structured conditions must be met to claim the benefit.
