Income Tax : Section 270 of the Income-tax Act, 2025 consolidates return processing and scrutiny assessment into one framework while introducin...
Income Tax : Section 268 of the Income-tax Act, 2025 brings inquiry, information gathering and special audit provisions into one structured fra...
Income Tax : Rule 46(8) mandates daily backups of electronic books on servers located in India, strengthening digital tax compliance and data i...
Income Tax : From 1 April 2026, TDS and TCS compliance shifts to new form numbers and section references under the Income-tax Act, 2025. Busine...
Income Tax : From April 1, 2026, PAN holders travelling abroad must submit Form 156 under the Income-tax Act, 2025. Learn the filing process an...
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 67 to 72 prescribe specific forms and designated authority certifications for claiming deductions under Sections 144 to 152. The rules standardize reporting, audit documentation, and regulatory verification as a precondition for availing tax benefits.
Draft Rule 66 requires mandatory audit, Form 32 filing, and section-wise document submission for claiming deductions under Sections 46 to 144, reinforcing strict procedural compliance.
Draft Rules 63–65 prescribe strict approval, notification, and compliance conditions for universities, sports bodies, and rent deduction claims under Sections 133 and 134, strengthening regulatory control and transparency.
Rule 62 mandates that deductions under Section 128 for specified serious diseases are allowed only when supported by prescriptions from qualified medical specialists. The rule clearly defines eligible ailments, authorised doctors, and the mandatory certification format.
Rule 61 of Draft Income-tax Rules, 2026 prescribes medical authority certification and Form 30 for autism, cerebral palsy and multiple disabilities for deductions under Sections 127 and 154.
Draft Income-tax Rule 60 permits carry forward of accumulated loss and unabsorbed depreciation in amalgamation only if 50% installed capacity is achieved and maintained, with mandatory Form 29 certification and scope for government relaxation.
Draft Rule 59 of the Income-tax Rules, 2026 prescribes a formula-based method to compute taxable income from life insurance payouts under Section 92(2)(l), ensuring premiums already claimed as deductions are not reduced again.
Draft Rule 58 of the Income-tax Rules, 2026 excludes certain asset transfers from Sections 92(3)(i) and 79 where specified restructuring, regularisation, or disinvestment conditions are fulfilled.
Rule 57 of the Draft Income-tax Rules, 2026 prescribes specific methods for determining Fair Market Value of jewellery, shares, artistic works, and immovable property to ensure standardized and transparent valuation.
Draft Rules 54 to 56 require accountant certification for slump sales and fix a 15% or Rs.10 lakh threshold for reference to Valuation Officers. They also define key FMV terms, including balance sheet, merchant banker, securities, and valuation date for specific sections.
