RULE 51 INCOME-TAX RULES 2026 Other conditions required to be fulfilled by the original fund. 51. (1) For the purposes of section 70(2) [Table: Sl. No. 5, C(a)(A)(iv)], the original fund, in a case where a capital asset is transferred to a resultant fund being a Category III Alternative Investment Fund, shall fulfil the condition that… Read More »
RULE 50 INCOME-TAX RULES 2026 RULE 50 INCOME-TAX RULES 2026 Attribution of income taxable under section 67(10) to capital assets remaining with the specified entity, under section 72. 50. (1) For the purposes of section 72(5), the amount chargeable to income-tax as income of specified entity under section 67(10), shall be attributed to capital asset remaining… Read More »
RULE 49 INCOME-TAX RULES 2026 RULE 49 INCOME-TAX RULES 2026 Computation of capital gains for purposes of section 67(5). 49. (1) If a person receives any amount under a specified unit-linked insurance policy, including any bonus allocated on such policy, then the capital gains arising from receipt of such amount in situations referred in column B… Read More »
RULE 48 INCOME-TAX RULES 2026 Other electronic modes of payment. 48. For the purposes of Schedule VIII [Table: Sl. No. 1. D(d)], section 66(32), section 146(5)(a)(ii)(B), sections 185, 186 and 188, the other electronic modes of payment shall be the following:— (a) Credit card; (b) Debit card; (c) Net banking; (d) IMPS (Immediate Payment Service); (e)… Read More »
RULE 47 INCOME-TAX RULES 2026 Report of audit of accounts to be furnished under section 63. 47. (1) The report of audit of the accounts of a person required to be furnished under section 63 shall,— (a) in the case of a person who carries on business or profession and who is required by or under… Read More »
RULE 46 INCOME-TAX RULES 2026 RULE 46 INCOME-TAX RULES 2026 Maintenance of books of account under section 62. 46. (1) Every person required to keep and maintain books of account and other documents under section 62(1)(b) shall maintain such books of account and other documents that enable the Assessing Officer to compute his total income under… Read More »
RULE 45INCOME-TAX RULES 2026 Conditions to be fulfilled by a resident company for purposes of section 61(2) [Table: Sl. No. 6]. 45. (1) For the purposes of section 61(2) [Table: Sl. No. 6], a resident company shall,— (a) be establishing or operating electronics manufacturing facility or a connected facility for manufacturing or producing electronic goods, article… Read More »
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 »
Section 148 Income Tax Act 2025 Issue of notice where income has escaped assessment. 148. (1) Before making the assessment, reassessment or recomputation under section 147, the Assessing Officer shall, subject to the provisions of section 148A, issue a notice to the assessee, along with a copy of the order passed under sub-section (3) of section 148A, requiring him… Read More »