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, ...
Rule 15 of the Draft Income-tax Rules, 2026 lays down detailed methods for valuing accommodation, cars, loans, ESOPs, and other benefits, ensuring uniform and transparent taxation of employee perquisites.
Rules 13 and 14 prescribe transaction and user thresholds for significant economic presence of non-residents and limit expenditure disallowance related to exempt income to 1% of average investments, capped at total claimed expenditure.
Rule 12 introduces a formula-based method to compute income attributable to Indian assets in indirect offshore share transfers and mandates accountant-certified reporting to ensure accurate tax apportionment.
Rule 11 introduces detailed valuation rules for listed, unlisted, and controlling shareholdings, partnership interests, and foreign company assets to determine fair market value under section 9(2).
Rule 10 sets out detailed definitions of accountant, management control, observable price, book value, and balance sheet standards to ensure clarity and uniform application under Rules 11 and 12 of the Draft Income-tax Rules, 2026.
Rule 9 authorizes the Assessing Officer to reasonably estimate non-resident income from Indian assets, property, or business connections when the precise taxable amount cannot be ascertained.
Rule 8 clarifies that for Indian seafarers on foreign-bound ships, the period between joining and signing off as recorded in the Continuous Discharge Certificate is excluded from stay in India for tax residency purposes.
Rule 7 mandates strict eligibility, rating, listing, investment, and compliance conditions for zero coupon bonds, empowering the Central Government to approve, reject, or withdraw notification based on adherence to these requirements.
Rule 6 clarifies how the holding period of capital assets is computed in cases of conversion, IDS 2016 declarations, and branch restructuring, and explains how gains under section 67(10) are classified.
Rule 5 mandates that stock exchanges must apply to the CBDT with SEBI approval and proof of compliance with Rule 4 conditions, and recognition is granted or rejected within six months.
