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, ...
CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination but does not automatically result in tax additions.
Rule 46(8) mandates daily backups of electronic books on servers located in India, strengthening digital tax compliance and data integrity requirements.
The Income Tax Act, 2025 restores capital gains taxation for share buybacks from 1 April 2026, replacing the deemed dividend regime while introducing an additional tax for promoters.
The article clarifies that the CBDT’s 4 June 2026 instruction governs six categories of compulsory manual scrutiny and is distinct from the CASS risk-based selection process. It explains the scope of each category and how taxpayers should prepare.
From 1 April 2026, TDS and TCS compliance shifts to new form numbers and section references under the Income-tax Act, 2025. Businesses must use the correct forms based on the transaction date to avoid filing errors.
The article highlights that Indian tax law lacks a statutory formula for allocating cross-border ESOP income, increasing the risk of double taxation. It recommends that the CBDT adopt the OECD workday-based apportionment framework through administrative guidance.
Learn how Section 161 of the Income-tax Act, 2025 establishes the arm’s length principle for international and specified domestic transactions. The provision ensures related-party transactions are taxed at market value to prevent profit shifting.
The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite taxation, capital gains, and the importance of proper tax planning.
The Income-tax Act, 2025 restructures India’s direct tax framework by reducing sections, introducing new tax slabs, and consolidating TDS provisions. The reforms simplify compliance while largely retaining existing tax deduction thresholds and rates.
Old Regime vs New Regime for Salaried Employees in FY 2026-27: A CA’s Optimisation Checklist The article explains that no changes were made to the income tax slab rates in the Union Budget 2026, and the tax structure introduced in Budget 2025 continues for FY 2026-27 (AY 2027-28) under both the old and new tax regimes. It […]
