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, ...
Rule 46(8) of the Income-tax Rules, 2026 requires businesses maintaining electronic books to create daily backups on servers located in India. The provision strengthens data localisation, audit readiness, and financial record accessibility.
The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This effectively removes exemption benefits previously allowed through judicial interpretation under the old regime.
A clear guide explaining how both the 1961 and 2025 tax laws will coexist, and why professionals must apply each depending on the assessment year.
The new law reorganizes provisions and reduces complexity without changing tax policies, ensuring easier compliance and continuity for taxpayers.
The removal of the provision means companies and investors are no longer taxed on share premiums exceeding fair market value, creating a major policy shift.
The new tax law confirms that all pending appeals and proceedings will continue under the old Act, ensuring taxpayers do not restart litigation after 1 April 2026.
TDS payments under Challan 281 require correct selection of system-driven Nature of Payment codes. The guide explains that wrong code selection can lead to credit mismatches and compliance issues.
The new law replaces complex provisions with a streamlined structure and fewer sections. It makes compliance easier while retaining core tax principles.
Interplay of Tax Treatment Between Section 10(23C)(iiiad) of the 1961, Act and Section 332 (RNPO) of the New Income Tax Act, 2025 Introductory View The era of New Income Tax Act, 2025 marks a shift from “Category-Based Exemptions” to a “Universal Registration Framework.” The specific exemption for small educational institutions under Section 10(23C)(iiiad) of the 1961 Act […]
The new law keeps depreciation methods unchanged for continuity. However, it broadens tax scope by including assets “belonging to” taxpayers beyond legal ownership.
