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 130–132 of the Income-tax Rules, 2026 prescribe mandatory time limits, detailed Approving Panel procedures, and remuneration norms to ensure transparency and time-bound action under section 274 proceedings.
Draft Rules 133 and 134 require businesses above ₹50 crore turnover to offer specified digital payment modes and mandate Form 65 filing to opt for patent royalty taxation benefits under section 194.
Rule 135 lays down a precise formula-based method to compute net winnings from online games for TDS purposes, clarifying treatment of deposits, withdrawals, bonuses, and multiple accounts.
Rules 136–138 require taxpayers to exercise or withdraw the new tax regime option through the income tax return and mandate Forms 66 and 67 for accountant reports under section 206.
Draft Rule 139 of the Income-tax Rules, 2026 prescribes a formula-based method to compute exempt income of specified funds attributable to non-resident unit holders. Exemption is conditional upon proportionate AUM ratios and mandatory filing of Form 68.
Draft Rule 140 prescribes a formula-based mechanism to determine income of specified funds attributable to non-resident unit holders, making concessional tax rates conditional on proportionate AUM ratios and filing of Form 69.
Rule 129 prescribes notice and forms for Section 274 reference, detailing objections, tax benefit basis, and Commissioner’s satisfaction before invoking Chapter XI provisions.
Rules 127 and 128 of the Draft Income-tax Rules, 2026 restrict GAAR impact to the tainted part of an arrangement and exempt cases below ₹3 crore tax benefit and specified FII investments.
Draft Rule 126 of the Income-tax Rules, 2026 limits eligible activities of IFSC-based Finance Companies and mandates foreign currency interest payments to qualify under section 177.
Draft Rule 125 of the Income-tax Rules, 2026 mandates Form 61 authorization filing and extensive ownership disclosures for transactions with notified jurisdictional areas, requiring eight-year record retention to strengthen compliance.
