Wide-ranging reforms across labour, tax, GST, and banking systems come into force from April 2026. These changes aim to simplify compliance while strengthening transparency and financial discipline.
The depreciation provisions applicable from Tax Year 2026-27 have undergone a significant structural change. With the enactment of the new Income-tax Act, 2025, all depreciation provisions previously governed under Section 32 of the Income-tax Act, 1961 have been consolidated and re-enacted under Section 34 of the new Act. The rates, however, remain largely unchanged, ensuring […]
The case examined whether a dying declaration alone could sustain conviction. The Court upheld life imprisonment, ruling that a medically certified and consistent dying declaration is sufficient proof of guilt.
The content explains how accurate GST records help lenders assess business performance and repayment capacity. It highlights that consistent compliance strengthens loan applications and reduces perceived risk.
The issue was fragmented TDS compliance through multiple forms. The new framework consolidates them into Form 141, reducing duplication and improving ease of filing.
The issue concerns complexity in the existing TDS/TCS provisions. The new framework consolidates sections and introduces coding systems, improving compliance efficiency and reducing ambiguity.
The issue concerns taxation of online cricket gaming winnings. The framework mandates a flat 30% tax with no deductions, emphasizing strict compliance and reporting obligations.
The issue concerns GST compliance requirements for businesses. It highlights that maintaining proper records and filing returns on time is essential to avoid penalties and ensure smooth tax credit claims.
The case examines whether insolvency must be admitted upon default. The Supreme Court held that tribunals have discretion to consider financial health, emphasizing revival over automatic admission
The issue was confusion due to separate previous and assessment years. The reform replaces them with a single Tax Year, simplifying references while retaining existing assessment timelines.
