Income Tax : The framework outlines mandatory disclosures and timelines for opting into safe harbour. Key takeaway: strict compliance is essent...
Income Tax : The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting r...
Income Tax : A detailed overview of updated TDS provisions mapping old and new sections, rates, and thresholds. Helps taxpayers understand comp...
Income Tax : The new tax law addresses long-standing concerns over complexity by reducing provisions and simplifying language. It introduces st...
Income Tax : The case highlights how the new framework enforces stricter compliance using data analytics. It underscores that incorrect declara...
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 : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...
Income Tax : A free live workshop will discuss the structure and practical implications of the proposed Income-tax Act, 2025 and amendments und...
Income Tax : The amendments focus on reassessment timelines, electronic communication, and procedural clarity. The changes aim to reduce litiga...
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, ...
By adopting the section 10(4D) definition, the amendment ensures consistency across income-exemption provisions. The change enhances legal certainty and eases long-term tax planning for funds.
Section 332 is amended to exclude certain Schedule VII funds from registration requirements. From AY 2026–27, these funds can claim tax exemption without registering as NPOs.
Section 349 is amended to permit belated return filing by NPOs through a reference to section 263(4). The change applies from AY 2026–27, restoring flexibility available under the earlier tax law.
The Finance Bill, 2026 changes the tax treatment of share buy-backs by taxing proceeds as capital gains instead of dividend income. The move simplifies taxation and better reflects the nature of buy-back transactions.
The Bill simplifies filings, eases compliance, and boosts certainty. Key takeaways include revised deadlines, MAT changes, and targeted reliefs.
The amendments modify shipping tax provisions to fully integrate inland vessels into the tonnage tax regime. Regulatory references, certification norms, and compliance requirements are aligned with inland waterways law.
The Finance Bill, 2026 introduces a clear definition of “commodity derivative” in the Income-tax Act, 2025. This aligns the new law with existing tax provisions and removes ambiguity.
The Finance Bill corrects an inadvertent drafting error in spouse income provisions. This clarification improves accuracy in applying clubbing rules.
Courts have held that reopening an assessment on identical facts under a different deeming provision is invalid. The key takeaway is that reassessment cannot be based on a mere change of opinion.
The Bill proposes halving the tax rate on unexplained income from 60% to 30%. It signals a shift towards proportionate taxation while retaining strict scrutiny. The change applies prospectively from April 2026.
