Income Tax : Explains the requirement for daily backups of electronic accounting records on India-based servers from 2026. Highlights complianc...
Income Tax : The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity,...
Income Tax : The new tax framework significantly reduces the number of rules and forms, aiming to simplify compliance. It replaces complex prov...
Income Tax : Form 45 allows resident taxpayers to report settlement of foreign tax disputes and claim foreign tax credit not earlier claimed in...
Income Tax : This analysis explains how employer-leased cars reduce taxable salary since only a prescribed perquisite value under Rule 3 is tax...
Income Tax : Amendment to section 56(2)(viib) of Act extending the applicability of section to issue of shares to non-residents has been made a...
Income Tax : Central Board of Direct Taxes (CBDT) has extended the last date to link Permanent Account Number (PAN) with Aadhaar to June 30, 20...
Income Tax : CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2...
Income Tax : Taxguru Team compiled Rule 12 of Income Tax Rules considering amendment vide Notification No. 21-2021/Income Tax Dated 31st March,...
Income Tax : CBDT has decided to discontinue Excel & Java version of ITR utilities from AY 2021-22 and it has released JSON Utility for...
Income Tax : Assessee filed his original income tax return on 31-08-2019 and revised the return on 19-06-2020. He submitted Form 67 to claim th...
Income Tax : ITO Vs Tilak Proficient Nidhi Limited (ITAT Allahabad) The ld. CIT(A) simply accepted all the contentions /additional evidences fi...
Income Tax : The AO has relied on sub-rule (1) of section 37BA for denying the benefit of TDS during the year under consideration. This part of...
Income Tax : As per Section 199(3) of Income Tax Act, 1961 read with Rule 37BA(3)(i) and (ii) of Income Tax Rules, 1962 TDS can be granted only...
Income Tax : TDS credit is allowed on deduction of Income under u/s 80IA, 8oIB, 80IC of the act, etc and also TDS credit is allowed on bad debt...
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, ...
Income Tax : Learn about the latest changes in Income Tax Rules, 2025. Key amendments include updates to ITR forms and provisions for capital g...
Income Tax : Ministry of Finance amends rule 11UAC of Income-tax Rules 1962, specifically addressing the relocation of funds and movable proper...
Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...
Explains the requirement for daily backups of electronic accounting records on India-based servers from 2026. Highlights compliance duties for businesses using cloud accounting systems and penalties for violations.
The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity, reduces errors, and improves reporting efficiency.
The new tax framework significantly reduces the number of rules and forms, aiming to simplify compliance. It replaces complex provisions with clearer structures and streamlined processes.
The latest amendment excludes income arising from transfer of pre-2017 investments from GAAR scrutiny. It reinforces the protection of grandfathered investments despite broader applicability of anti-avoidance provisions.
Form 45 allows resident taxpayers to report settlement of foreign tax disputes and claim foreign tax credit not earlier claimed in Form 44 under the Income-tax framework.
CBDT introduced Income-tax Rules, 2026 to operationalize the Income-tax Act, 2025. The rules standardize procedures on valuation, reporting, and compliance across tax domains.
This analysis explains how employer-leased cars reduce taxable salary since only a prescribed perquisite value under Rule 3 is taxed instead of full lease cost. It highlights significant tax savings despite minor perquisite additions.
The draft rules revamp perquisite valuation and allowances, raising car-related taxes while expanding relief for education, HRA, and small perks.
The draft Income-tax Rules, 2026 consolidate perquisite valuation into a single framework and significantly raise exemption limits. Employees gain clearer rules and higher tax-efficient benefits.
Learn about the latest changes in Income Tax Rules, 2025. Key amendments include updates to ITR forms and provisions for capital gains. Effective April 1, 2025.
