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 conditions for claiming accumulation under section 342(1). Filing within the prescribed timeline is essential. The takeaway is strict compliance with filing deadlines.
Failure to file Form 108 before the return due date results in loss of exemption benefits. The ruling emphasizes strict adherence to timelines. This highlights the importance of timely compliance for non-profits.
Providing incorrect or misleading information can result in rejection or cancellation of registration. The ruling highlights strict scrutiny of disclosures. This safeguards against misuse of tax benefits.
The issue concerns the process for granting or rejecting provisional registration or approval. The framework defines timelines, validity, and conditions. The key takeaway is structured compliance for registration under the new regime.
Form 105 streamlines registration and approval for non-profits under the new tax regime. It improves compliance and enables tax benefits for organisations and donors.
If activities have already commenced, Form 104 becomes non-est and is not processed. The ruling enforces strict eligibility criteria for provisional registration. This prevents misuse of simplified registration provisions.
The revised Form 103 incorporates digital payment mechanisms for settling tax demands. The ruling reflects modernization of tax administration. This enhances ease of compliance and transparency in payment processes.
Form 102 provides a mechanism to claim TDS credit where deduction and income reporting occur in different years. It ensures taxpayers do not lose legitimate credit.
The new Form 100 replaces outdated audit reporting formats to improve compliance and clarity. It standardizes reporting for special audits directed by tax authorities.
The new law mandates filing appeals within 30 days, with delay allowed only upon justified condonation. The ruling emphasizes timely compliance and procedural discipline. This ensures faster resolution of tax disputes.
