Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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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