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, ...
Exchanges must deposit complete tax before filing the statement. Partial payment renders filing invalid. The takeaway is complete tax compliance is a prerequisite.
Form 141 consolidates earlier challan-cum-statements into a single form for various TDS transactions. It simplifies reporting and payment while ensuring accurate compliance. The key takeaway is streamlined filing with schedule-based reporting.
Form 140 replaces Form 26Q and mandates quarterly reporting of TDS on non-salary payments. Timely filing ensures proper tax credit and avoids penalties for non-compliance.
Refund of excess TDS/TCS is not allowed if the deductee has already claimed credit. The ruling prevents double benefit and ensures proper reconciliation of tax credits.
Employers must file Form 138 quarterly for salary TDS reporting. Timely filing ensures accurate tax credit to employees and avoids penalties.
The issue concerns non-filing of Form 137 by government offices. The law mandates timely filing to avoid penalties. The key takeaway is strict compliance with reporting obligations.
Form 136 applies only to government offices making TDS/TCS payments through book adjustment. This ensures targeted compliance and avoids unnecessary registration.
The issue concerns issuance of TCS certificates by collectors. The law mandates issuing Form 133 after tax collection. The key takeaway is compulsory compliance for valid tax credit.
The Income Tax Rules 2026 introduce a completely revamped form numbering system across all compliance categories. The reform consolidates multiple forms and simplifies filing, making it essential for taxpayers and professionals to update systems and processes.
The provision mandates filing of Form 101 only when directed by the Assessing Officer. The rule ensures independent and accurate valuation of inventory through a Cost Accountant, impacting taxable income.
