Rule 2 of The Income Tax Rules Draft, 2026 Definitions. (1) In these rules, unless the context otherwise requires,— (a) “Act” means the Income-tax Act, 2025 (30 of 2025); (b) “authorised bank” means any bank as may be appointed by the Reserve Bank of India as its agent under the provisions of sub-section (1) of… Read More »
Rule 01 of The Income Tax Rules Draft, 2026 PRELIMINARY Short title and commencement. (1) These rules may be called the Income-tax Rules, 2026. (2) They shall come into force on the 1st day of April, 2026. For More : Read DRAFT INCOME-TAX RULES, 2026
CBDT seeks stakeholders’ inputs on proposed Income-tax Rules and Forms related to Income Tax Act, 2025 As part wider consultative process, CBDT has launched a utility on the e-filing portal to gather inputs and suggestions from stakeholders in four categories Posted On: 08 FEB 2026 11:06AM by PIB Delhi The Income-tax Act, 2025 received the… Read More »
Key Difference for Books of Accounts Maintenance in New Income Tax Act 2025 Rule 46 Vs Rule 6F Based on Income-tax Rules, 1962 and the Draft Income-tax Rules, 2026 here is the comparison between the existing Rule 6F and the new Rule 46. Comparison: Rule 6F vs. Rule 46 Feature Rule 6F (Income-tax Rules, 1962)… Read More »
Key Difference in New Tax Audit form 26 and old Form 3CD : New Income Tax Act 2025 Based on the Draft Form No. 26 (Income-tax Act, 2025) and the existing Form 3CD (Income-tax Act, 1961), here is a comparison of the key differences: Comparison: Form 3CD vs. Form 26 Feature Form 3CD (Existing Rules… Read More »
H. RATIONALISATION OF OTHER DIRECT TAX PROVISIONS Rationalisation of TCS rates Section 394(1) of the Act provides multiple rates for collection of tax at source (TCS). It is proposed to rationalize the rates of TCS by providing uniform rates to the extent possible. It is also proposed to reduce some of the rates so as… Read More »
G. RATIONALISATION OF CORPORATE TAX REGIME Rationalization of Minimum Alternate Tax provisions The existing provisions under section 206 of the Income-tax Act, 2025 (the Act) provide for Minimum Alternate Tax (MAT) which is applicable for companies. This tax is charged on the Book profit of the assessee at the rate of 15% for corporates (other… Read More »
Rationalisation of certain terms for treasury centres in IFSC Exiting Clause (40) of the section 2 inter alia provides the definition of dividend. Sub clause (v) to long line of clause (40) provides that dividend does not include any advance or loan between two group entities, where, __ (A) one of the group entities is… Read More »
Extension of period of deduction for units in IFSC and rationalization of tax rate The provisions of section 147 provide for deduction of 100% on certain incomes to the units of IFSC and OBUs. This is available for 10 consecutive years out of 15 years for units in IFSC and 10 consecutive years for OBUs.… Read More »
Exemption to non-residents for rendering services under a notified Scheme in India. The existing provisions of section 11 read with Schedule IV of the Act specifies the eligible income, which shall not be included in the total income of the eligible non-residents, foreign companies and other such persons. 2. In order to provide tax certainty… Read More »