Monthly Archives: April 2026

BSNL VRS-2019 is a “Forced Retrenchment” in substance; hence, the entire compensation is a non-taxable Capital Receipt.

By | April 22, 2026
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BSNL VRS-2019 is a “Forced Retrenchment” in substance; hence, the entire compensation is a non-taxable Capital Receipt. The Dispute: Voluntary vs. Forced Separation The Conflict: The assessee, a BSNL employee, retired under the BSNL VRS-2019 scheme. Original Claim: The employee initially claimed the standard ₹5 lakh exemption under Section 10(10C) (Voluntary Retirement). The New Claim:… Read More »

Capital gains cannot be taxed twice; if tax was paid in later years, a reassessment for an earlier year must credit those payments.

By | April 22, 2026
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Capital gains cannot be taxed twice; if tax was paid in later years, a reassessment for an earlier year must credit those payments. The Conflict The assessee (an HUF) entered into a Joint Development Agreement (JDA) and a General Power of Attorney (GPA) in AY 2005-06. Revenue’s Stance: The execution of the JDA and GPA… Read More »

Form 67 Income Tax Rules 2026 pdf download and Key points

By | April 22, 2026
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Form 67 Income Tax Rules 2026 pdf download and Key points FORM NO. 67 [See rule 138] Report for computation of adjusted total income and alternate minimum tax for the purposes of section 206(2) of the Act Under the Income-tax Rules, 2026, Form No. 67 replaces the erstwhile Form 29C. It is governed by Section… Read More »

Form 66 Income Tax Rules 2026 pdf download and Key points

By | April 22, 2026
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Form 66 Income Tax Rules 2026 pdf download and Key points Form 66 Income Tax Rules 2026 pdf download and Key points FORM NO. 66 [See rule 137] Report for Computation of Book Profit for the purposes of section 206(1) of the Act Under the Income-tax Rules, 2026, Form No. 66 replaces the erstwhile Form… Read More »

Form 65 Income Tax Rules 2026 pdf download and Key points

By | April 22, 2026
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Form 65 Income Tax Rules 2026 pdf download and Key points Form 65 Income Tax Rules 2026 pdf download and Key points FORM NO. 65 [See rule 134] Form for opting for taxation of income by way of royalty in respect of patent Under the Income-tax Rules, 2026, Form No. 65 (which replaces the erstwhile… Read More »

Form 64 Income Tax Rules 2026 pdf download and Key points

By | April 22, 2026
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Form 64 Income Tax Rules 2026 pdf download and Key points Form 64 Income Tax Rules 2026 pdf download and Key points FORM NO. 64 [See rule 129] Form for making reference to the Approving Panel and for recording the satisfaction by the Commissioner before making a reference to the Approving Panel under section 274(4)… Read More »

Form 63 Income Tax Rules 2026 pdf download and Key points

By | April 22, 2026
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Form 63 Income Tax Rules 2026 pdf download and Key points Form 63 Income Tax Rules 2026 pdf download and Key points FORM NO. 63 [See rule 129(4)] Form for returning the reference made under section 274 Under the Income-tax Rules, 2026, Form No. 63 is an administrative form governed by Section 274 of the… Read More »

Form 62 Income Tax Rules 2026 pdf download and Key points

By | April 22, 2026
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Form 62 Income Tax Rules 2026 pdf download and Key points Form 62 Income Tax Rules 2026 pdf download and Key points FORM NO. 62 [See rule 129(3)] Form for making the reference to the Commissioner of Income-tax by the Assessing Officer under section 274(1) Under the Income-tax Rules, 2026, Form No. 62 is an… Read More »

How to File Form 145 Income Tax for Payment to NRI

By | April 22, 2026
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How to File Form 145 Income Tax for Payment to NRI Form 145 1. Overview Form 145 is a new form that replaces the old Form 15CA for sending money outside India. It needs to be filled by anyone who wants to make a foreign payment, and it must be submitted before the money is sent.… Read More »

Form 61 Income Tax Rules 2026 pdf download and Key points

By | April 22, 2026
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Form 61 Income Tax Rules 2026 pdf download and Key points Form 61 Income Tax Rules 2026 pdf download and Key points FORM NO. 61 [See rule 125] Authorization for claiming deduction in respect of any payment made to any financial institution located in a notified jurisdictional area Under the Income-tax Rules, 2026, Form No.… Read More »