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 introduced Income-tax Rules, 2026 to operationalize the Income-tax Act, 2025. The rules standardize procedures on valuation, reporting, and compliance across tax domains.
The Government introduced reforms to simplify tax dispute resolution, including broader immunity provisions and expanded scope for updated returns. These measures aim to reduce litigation and encourage voluntary compliance.
The exemption for disability pension has been preserved under the Income-tax Act, 2025 to maintain the relief previously available under earlier tax laws.
The updated TDS provisions reorganize multiple earlier sections into a simplified framework covering salary, resident payments, non-resident payments, and gaming transactions.
The new tax law formally embeds faceless assessments into the statute, replacing the earlier scheme-based system and making electronic tax scrutiny the default process.
The Income-tax Act 2025 introduces the new tax regime as the default taxation method for individuals and certain entities. Taxpayers may opt out while filing returns if they prefer the traditional regime.
Section 332 of the Income-tax law outlines who can apply for non-profit registration, the eligibility criteria, and the process required to obtain tax exemptions for charitable institutions.
The new Income-tax Act, 2025 replaces the 1961 law and introduces structural changes such as a single “Tax Year.” Key updates include revised return deadlines, higher STT, and new rules for buybacks and deductions.
Courts have held that lump-sum alimony received under a divorce settlement is a capital receipt outside the scope of taxable income. However, periodic maintenance payments remain taxable in the recipient’s hands.
The Income-tax Act, 2025 reorganises the capital gains taxation framework while retaining the core principles of the earlier law. It clarifies definitions, holding periods, and tax treatment of gains from transfer of capital assets.
