Daily Archives: April 1, 2026

RULE 44 INCOME-TAX RULES 2026 Conditions to be fulfilled by a non-resident, engaged in the business of operation of cruise ships under section 61(2) [Table: Sl. No. 2]. 44. For the purposes of section 61(2) [Table: Sl. No. 2], a non-resident assessee, engaged in the business of operation of cruise ships shall,— (a) operate a passenger… Read More »

RULE 43 INCOME-TAX RULES 2026 Form of report of audit to be furnished under section 59(4) for computation of royalty and fee for technical services. 43. The report of audit of accounts of a non-resident (not being a company) or a foreign company for computation of royalty and fee for technical services, which is required to… Read More »

RULE 42 INCOME-TAX RULES 2026 RULE 42 INCOME-TAX RULES 2026 Special provision regarding interest on bad and doubtful debt of specified financial institution. 42. (1) The provisions of section 56 shall apply in the case of every public financial institution, scheduled bank, State Financial Corporation and State Industrial Investment Corporation, if its income from interest is… Read More »

RULE 41 INCOME-TAX RULES 2026 Expenditure for obtaining right to use spectrum for telecommunication services. 41. (1) For the purposes of section 52(7)(a) read with section 52(1) [Table: Sl. No. 3], the term “actually paid” shall mean,— (a) where an assessee has opted and been allowed by the Department of Telecommunications, Government of India to make… Read More »

RULE 39 INCOME-TAX RULES 2026 RULE 39 INCOME-TAX RULES 2026 Procedure for approval of skill development projects under section 47(1)(b). 39. (1) A skill development project (herein referred as the project) shall be considered for notification, if it is undertaken by an eligible company and the project is undertaken in a separate facility in a training… Read More »