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 Rules 103 to 107 of the Income-tax Rules, 2026 define key expressions, eligibility, consultation, application, and withdrawal procedures for Advance Pricing Agreements to provide structured and transparent APA implementation.
Draft Rules 101 and 102 of the Income-tax Rules, 2026 prescribe the procedure for opting safe harbour in income attribution cases and clarify that taxpayers cannot invoke Mutual Agreement Procedure once the option is validly exercised.
Rule 100 mandates minimum profit margins of 4% and 2% for specified businesses to qualify for safe harbour, while restricting deductions and loss set-offs to ensure certainty and simplified taxation.
Rule 99 defines eligible assessees, businesses, goods, and gross receipts for safe harbour in income attribution cases, covering foreign diamond miners and electronics manufacturing through custom bonded warehouses.
Rule 98 introduces a structured filing, verification, and appeal mechanism with strict timelines, ensuring deemed acceptance of safe harbour for specified domestic transactions if authorities fail to act within prescribed periods.
Rule 97 allows automatic acceptance of transfer prices for specified domestic transactions where electricity tariffs are regulator-approved and milk pricing is quality-based and transparent, eliminating comparability adjustments.
Rules 92–96 exclude safe harbour benefits for transactions with entities in notified or low-tax jurisdictions and deny MAP where safe harbour is accepted, while introducing domestic safe harbour relief for electricity and dairy co-operative transactions.
Rule 91 provides a five-year safe harbour regime for eligible IT service transactions with electronic verification, time-bound acceptance, and structured compliance requirements. The provision ensures transfer pricing certainty while restricting re-entry after withdrawal.
Rule 90 prescribes a structured filing process, TPO review mechanism, and strict timelines, ensuring that the safe harbour option becomes automatically valid if authorities fail to act within the stipulated period.
Rule 89 of the Draft Income-tax Rules, 2026 prescribes fixed profit margins, interest spreads, and transaction limits for eligible international transactions to secure automatic acceptance of transfer prices, reducing litigation and compliance uncertainty.
