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, ...
Draft Rules 178 and 179 mandate specific forms for TDS credit applications and notices of demand, ensuring standardized compliance and administrative clarity.
Draft Rule 177 requires successor entities to file a digitally verified ITR-A and empowers the Assessing Officer to modify assessments to reflect business reorganisation orders.
Draft Rule 176 lays down a comprehensive, technology-driven framework for faceless assessment, reassessment, and recomputation to ensure transparency, automation, and reduced discretion in tax proceedings.
Draft Rules 174 and 175 specify inspection hours for Valuation Officers and designate the competent authority for issuing notices under section 270(8), ensuring procedural clarity and accountability.
Draft Rule 173 clarifies jurisdiction of Valuation Officers by prescribing value thresholds and supervisory powers to ensure structured and efficient asset valuation under the Income-tax Act.
Draft Rule 172 of the Income-tax Rules, 2026 prescribes hourly fee limits and oversight mechanisms for audit and inventory valuation to ensure transparency and prevent excessive billing.
Rule 233 defines when electronic notices are deemed authenticated and empowers the Systems Directorate to specify designated emails, websites, and security standards.
Rule 232 specifies permissible physical and electronic addresses for serving notices under section 501 and mandates secure digital transmission standards by the Systems Directorate.
Rules 226–231 of the Draft Income-tax Rules, 2026 specify powers of Tax Recovery Officers, tax clearance procedures, refund claims, and immunity applications, ensuring procedural clarity and compliance.
Rule 225 prescribes a comprehensive framework for recovery of tax arrears, covering attachment, sale, arrest, appeals, and time limits to ensure legally structured enforcement.
