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 Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 April 2026. The reform aims to attract stable long-term foreign investment and make India’s debt market globally competitive.
The new Income-tax Act, 2025 replaces the old survey framework with a streamlined regime under Section 253. It expands digital record access while introducing approval requirements, retention limits, and taxpayer safeguards.
The Income Tax Act, 2025 reintroduces a dedicated block assessment mechanism for search cases. The framework simplifies post-search assessments by focusing on undisclosed income detected during the search.
The article explains the advance tax framework applicable from Tax Year 2026-27. Taxpayers with net tax liability of Rs. 10,000 or more must generally pay tax in instalments during the year.
A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments with identical thresholds and tax treatment. The proposal seeks to reduce compliance complexity and reporting errors.
mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, and improved portability. The transition is tax-neutral when carried out in accordance with prescribed legal procedures.
The Income Tax Act, 2025 introduces detailed reporting requirements for books maintained in electronic form. Tax auditors must now disclose accounting software, storage systems, server locations, and compliance with backup requirements.
Buyback proceeds will again be taxed as capital gains from 1 April 2026. The change allows deduction of acquisition cost and restores taxation on net gains rather than gross receipts.
The Income Tax Act, 2025 preserves the key deduction previously available under Section 80P through Section 149. Most tax incentives for eligible co-operative activities remain intact.
The law permits taxpayers to adopt the stamp duty value on the agreement date instead of the registration date where prescribed conditions are satisfied. This relief helps prevent unfair tax additions arising solely from a later increase in circle rates.
