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 regime offers a concessional 22% tax rate for domestic companies. However, key deductions and depreciation benefits are restricted, requiring careful evaluation.
The law consolidates earlier TCS provisions under a new section without changing rates. The key takeaway is the need to update compliance references from April 2026.
The depreciation provisions applicable from Tax Year 2026-27 have undergone a significant structural change. With the enactment of the new Income-tax Act, 2025, all depreciation provisions previously governed under Section 32 of the Income-tax Act, 1961 have been consolidated and re-enacted under Section 34 of the new Act. The rates, however, remain largely unchanged, ensuring […]
The issue was fragmented TDS compliance through multiple forms. The new framework consolidates them into Form 141, reducing duplication and improving ease of filing.
The issue concerns complexity in the existing TDS/TCS provisions. The new framework consolidates sections and introduces coding systems, improving compliance efficiency and reducing ambiguity.
The issue was confusion due to separate previous and assessment years. The reform replaces them with a single Tax Year, simplifying references while retaining existing assessment timelines.
The new tax framework significantly reduces the number of rules and forms, aiming to simplify compliance. It replaces complex provisions with clearer structures and streamlined processes.
The new rules replace legacy forms with a structured, renumbered system. They simplify compliance while expanding reporting requirements across tax domains.
The law replaces Form 26QE with Form 141 for VDA transactions from April 2026. Taxpayers must follow the new challan-cum-statement system for TDS compliance.
Even where premium limits are exceeded, death benefits continue to be fully exempt. This ensures protection for beneficiaries. The takeaway is that exemption rules differ for survival and death benefits.
