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 Rule 53 mandates that fair market value (FMV) for slump sale under Section 77 be the higher of asset-based FMV or consideration-based FMV. The rule introduces detailed formulas to prevent undervaluation and ensure accurate capital gains taxation.
Rule 51 limits Indian resident participation in original funds to 5% for specific AIF transfers, while Rule 52 standardises exchange rates for non-residents computing capital gains under Section 72.
Draft Rule 50 provides a formula-based mechanism to attribute income taxed under Section 67(10) to capital assets retained by a specified entity under Section 72(5). It also restricts depreciation on revalued or self-generated assets and mandates Form 27 compliance.
Draft Rule 49 prescribes a formula-based method to compute capital gains on amounts received from specified ULIPs under Section 67(5), treating them as equity-oriented fund units. The rule ensures proportionate taxation of withdrawals and bonuses after adjusting premiums already considered.
Rule 47 mandates Form 26 for audit reports under Section 63 with provision for revision in specified cases, while Rule 48 specifies approved electronic payment modes including UPI, NEFT, RTGS and CBDC wallets.
Draft Income-tax Rules 2026 Rule 46 mandates detailed books, Form 25 for doctors, ₹1.5 lakh threshold relief, 7-year retention, and India-based electronic storage compliance.
Draft Income-tax Rules 2026 prescribe Form 24 for non-resident audits and define strict eligibility norms for cruise operators and electronics manufacturers under Sections 59(4) and 61(2).
Draft Rule 42 of the Income-tax Rules, 2026 specifies categories of bad and doubtful debts for banks, financial institutions, and housing finance companies. It clarifies when interest income will be governed by Section 56, based on non-performing asset criteria and security erosion thresholds.
Draft Rule 41 of the Income-tax Rules, 2026 defines the meaning of “actually paid” for spectrum fee deductions under Section 52. It distinguishes between upfront and deferred payment options and mandates reassessment if spectrum allocation is terminated due to non-compliance.
Rule 40 of the Draft Income-tax Rules, 2026 sets mandatory audit, reporting, expense restrictions, and employee training limits for skill development projects notified under section 47(1)(b). The key takeaway is that non-compliance can trigger Board action, including revocation of notification.
