Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The tax authority is preparing rules, simplified forms and guidance to implement the new Income-tax Act, 2025-which will replace the 1961 Act and take effect April 1, 2026-and aims to notify rules by December 2025. A rules-and-forms committee has identified redundant provisions, conducted public consultation and drafted rules for review by the tax board and finance ministry; drafts will be vetted by the law department, notified and laid before Parliament. The authority will also issue FAQs, SOPs and guidance notes, rework TDS and return forms, and undertake taxpayer education and officer capacity-building to facilitate compliance and enforcement.
The tax authority is preparing rules, simplified forms and guidance to implement the new Income-tax Act, 2025-which will replace the 1961 Act and take effect April 1, 2026-and aims to notify rules by December 2025. A rules-and-forms committee has identified redundant provisions, conducted public consultation and drafted rules for review by the tax board and finance ministry; drafts will be vetted by the law department, notified and laid before Parliament. The authority will also issue FAQs, SOPs and guidance notes, rework TDS and return forms, and undertake taxpayer education and officer capacity-building to facilitate compliance and enforcement.
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