Income Tax : The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendme...
Income Tax : Clause 43 in Tax Audit Form No. 26 requires auditors to verify remittances reported in Part-D of Form 145. Incorrect classificatio...
Income Tax : The new Income Tax Act, 2025 significantly reduces the number of statutory sections and reorganises tax compliance procedures effe...
Income Tax : The new law defines strict conditions for reopening assessments using specified information categories. It ensures transparency an...
Income Tax : The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity,...
Income Tax : Rules 307–311 of the Draft Income-tax Rules, 2026 outline how pension funds must purchase annuities, restrict commutation, preve...
Income Tax : Draft Income-tax Rules 2026 prescribe definitions, trust conditions, investment rules, and limits on employer contributions for ap...
Income Tax : Draft Income-tax Rules 2026 outline procedures for provident fund recognition, penalties for assigning PF interest, and tax treatm...
Income Tax : Draft Income-tax Rules 2026 require provident fund nominations to favour family members and mandate annual account reporting by tr...
Income Tax : Rule 333 mandates electronic tax payments for companies and specified taxpayers, while the draft rules also prescribe detailed dep...
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 : CBDT introduced Income-tax Rules, 2026 to operationalize the Income-tax Act, 2025. The rules standardize procedures on valuation, ...
Draft Rule 279 of the Income-tax Rules, 2026 explains how House Rent Allowance (HRA) exemption will be computed based on rent paid, salary, and the city of residence.
Draft Rule 278 of the Income-tax Rules, 2026 explains how exemption for Leave Travel Concession (LTC) will be calculated based on actual travel cost, transport mode, and journey limits.
Draft Rule 240 requires financial institutions to follow detailed due diligence procedures, including self-certification and account review, to identify reportable accounts and determine tax residency for global information reporting.
Draft Rule 239 requires reporting financial institutions to maintain and report detailed information on reportable accounts, including account holder identity, balances, and income transactions, with annual filing by 31 May to ensure tax transparency.
Draft Rule 238 of the Income-tax Rules, 2026 provides detailed definitions of financial accounts, financial institutions, reportable persons, and related terms to ensure proper identification and reporting of accounts under international tax compliance rules.
Draft Income-tax Rules 2026 introduce Rule 236 and Rule 237 requiring film producers and specified persons to file Form 164 and reporting entities to submit financial transaction statements in Form 165.
Draft Income-tax Rules 2026 introduce Rule 234 and Rule 235 requiring non-resident liaison offices to file annual statements and Indian concerns to report indirect foreign share transfers.
Draft Rules 194–196 prescribe Forms 117 and 118 for appeal procedures and define the structure of the Dispute Resolution Committee to ensure uniform and efficient tax dispute handling.
Draft Rules 191 to 193 clarify modes of service, regulate admission of additional evidence before appellate authorities, and mandate prescribed forms for filing appeals and cross-objections before the Appellate Tribunal.
Draft Rule 190 requires registered non-profits to electronically file Form 113 and issue Form 114 certificates by 31st May each year, ensuring structured reporting and verification of donations.
