Tax Collection at Source reporting requires party-wise disclosure and grants credit to account holder for tax collected and paid.
Amendments require authorised dealers and collectors to furnish party-wise particulars where tax under section 206C was not collected or collected at altered rates, replace Form 27EQ Annexure with a detailed party-wise TCS break up including collection codes and reasons for non-collection, add dividend to specified items in rule 37BC, omit certain subsection references in rule 37CA, and provide that credit for tax collected at source is given to the person from whose account tax is collected and paid for the relevant assessment year.

Corrigendum to income tax notification corrects English text to expand the listed assessment years in the notification.
Corrigendum amends the English text of a prior Income Tax notification by replacing two instances of a four-year list with an expanded eight-year list, adding 2017-2018 through 2020-2021 to the previously listed 2013-2014 through 2016-2017; the change is textual and records the administrative correction by the issuing directorate.

Designation of investigative agencies enables statutory tax-information sharing and administrative cooperation with tax authorities.
The Central Government formally specifies four central bodies-the Cabinet Secretariat, Intelligence Bureau, Narcotics Control Bureau and National Investigation Agency-as designated authorities for the purposes of the relevant provision of the Income-tax Act, thereby enabling statutory mechanisms for tax-information access and cooperation between tax authorities and these investigative agencies.

Information sharing designation under income tax law authorises a designated officer to access taxpayer data for PM KISAN beneficiary identification.
The Central Government specifies a designated officer to receive and use information about income tax assessees solely for identifying eligible beneficiaries under the PM KISAN scheme, operationalising data exchange between tax authorities and the agriculture ministry for that purpose.

Income-tax exemption for Tamil Nadu e-Governance Agency granted subject to specified income streams and compliance requirements.
Central Government notifies Tamil Nadu e-Governance Agency as eligible under clause (46) of section 10 for specified incomes: government recurring contributions/grants-in-aid for operations; service charges from Common Service Centres; service charges and related interest from software development and IT consultancies for other state departments/PSUs/statutory boards; dividend from CSC-SPV; admin cost on PEC grants; revenue sharing from online examinations; any incidental income furthering the society's objects; and interest on these items. The exemption is subject to non-commercial activity, unchanged nature of activities and income, prescribed return filing, and audited return with CA certificate, effective from AY 2019-20 through AY 2023-24.

Tax exemption for Real Estate Regulatory Authority: specified non commercial receipts notified as exempt subject to compliance and reporting.
Notification designates the Real Estate Regulatory Authority constituted under the Real Estate (Regulation and Development) Act, 2016 as a class of authority for tax purposes in respect of specified income: government grants/loans, fees and penalties from stakeholders, and interest thereon. Applicability is subject to conditions: no commercial activity, unchanged nature of activities and income, statutory return filing, and an audit report with a chartered accountant's compliance certificate.

Specification of authorised officers: designation of Additional Secretary and Development Commissioner in MSME for tax statute purposes.
The notification designates the Additional Secretary and the Development Commissioner, Ministry of Micro, Small and Medium Enterprises, Government of India, as the specified officers for the purposes of the relevant clause of the income-tax statute, effectuating statutory identification of competent officials by the Central Government.

Tax exemption for specified authority income: RERA notified as exempt for grants, fees and related interest subject to conditions.
Central Government notifies Real Estate Regulatory Authority as a class of Authority for specified income comprising government grants/loans, fees/penalties under the Real Estate (Regulation and Development) Act, 2016, and interest thereon. The notification is conditional on non-engagement in commercial activity, unchanged activities and income nature across financial years, filing the return of income as prescribed, and filing an audit report with a chartered accountant's certificate confirming compliance.

National Aviation Security Fee Trust exemption: specified aviation receipts exempt subject to non commerciality and prescribed filing and audit compliance.
Notification designates National Aviation Security Fee Trust as a notified trust for exemption of specified income comprising ministry approved grants or subsidies, aviation security fee collections, escrow transfers of passenger service fee security component, and interest/dividend on invested collections when used for trust objectives. The exemption is conditional on non commerciality, unchanged activities and income composition, filing of returns under prescribed provisions, and submission of an audit report with a chartered accountant's certificate confirming compliance.

Tax Saver Scheme for NPS Tier II creates a contribution-based account with mandatory lock-in and non-transferability protections.
Establishes the National Pension Scheme Tier II- Tax Saver Scheme, 2020 for Central Government employees who activate a specified account under regulatory guidelines; requires minimum contributions, imposes a three-year lock-in on credited amounts, and forbids assignment, pledge or hypothecation of contributions during the lock-in period.

Specification of business in infrastructure: government designates listed infrastructure sub sectors as qualifying for the tax provision.
The Central Government specifies that business for item (b) of sub clause (iii) of clause (23FE) of section 10 of the Income tax Act is the business engaged in the infrastructure sub sectors mentioned in the Updated Harmonised Master List of Infrastructure Sub sectors; the reference excludes businesses already provided in the same item (b) and the specification applies from the commencement of the notified tax year to that and subsequent assessment years.

TDS reporting requirements strengthened to mandate detailed disclosure where tax was not deducted or deducted at lower rate.
Amendments to Rule 31A require deductors to furnish particulars where tax was not deducted or was deducted at a lower rate due to specified notifications, provisos or exemptions including cash withdrawal treatments, interest and business trust distributions; Forms 26Q and 27Q Annexures and section code lists are revised to add new line items, reason codes and deductee/payee wise breakups to report these instances, with specified effective dates for cash withdrawal and e commerce operator reporting.

Exemption under section 50CA for unquoted share transfers where Tribunal approved resolution plans follow board suspension.
Rule 11UAD exempts transfers of movable property consisting of unquoted shares from the operation of section 50CA where the Tribunal has suspended the company's board on a Central Government application and appointed Government nominated directors, and where such shares are transferred pursuant to a Tribunal approved resolution plan after affording a reasonable opportunity of being heard to the jurisdictional Principal Commissioner or Commissioner.

Exemption for Category-I foreign portfolio investor funds: specified Section 9A(3) conditions inapplicable with retrospective effect.
Conditions in clauses (e), (f) and (g) of sub-section (3) of section 9A shall not apply to an investment fund established by a Category-I foreign portfolio investor registered under the SEBI (Foreign Portfolio Investors) Regulations, 2019; the notification gives retrospective effect from 23 September 2019 and records that no person is adversely affected by that retrospective application.

Exemptions from gift-tax apply for regularised unauthorised colony property and tribunal-approved share transfers following reconstruction.
Exemptions are prescribed from the gift-tax provision for: immovable property in unauthorised colonies regularised by government notification where possession or title is evidenced by specified documents and the recipient is a defined resident; unquoted shares received under a tribunal-approved resolution plan following suspension of a company's board and appointment of government-nominated directors after affording the tax authority an opportunity to be heard; and equity shares allotted by a reconstructed bank under the reconstruction scheme to designated investors or investor banks at the scheme price.

Correction to section references expands a discrete reference into a contiguous range and clarifies a sub clause cross reference.
Corrigendum makes two textual corrections: it replaces the phrase "section 54 or 54GB" with "sections 54 to 54GB", expanding a discrete reference into a contiguous range, and it clarifies a cross-reference by changing "sub-clause (i)" to "sub-clause (i) of clause (c)", thereby specifying the parent clause for the cited sub-clause.

Tax regime option limits exempt allowances for employees who opt in under new tax rules.
Employees who elect the alternative tax regime are entitled to exemption only for the allowances specified in sub-clauses (a)-(c) and for the allowance at serial no.11 of the table, subject to any stated conditions, and the exemption for employer-provided free food and nonalcoholic beverages via paid voucher is not available to such employees.

Tax exemption for Real Estate Regulatory Authority: specified non-commercial receipts notified as exempt subject to compliance conditions.
Notification under clause (46) of section 10 of the Income-tax Act, 1961 notifies the Real Estate Regulatory Authority as a class of Authority for specified income: government grants/loans, fees/penalties from stakeholders under the Real Estate (Regulation and Development) Act, 2016, and interest on those receipts. The notification is conditional on no commercial activity, unchanged nature of activities and income, filing of return under clause (g) of sub-section (4C) of section 139, and filing an audit report with a chartered accountant's certificate confirming compliance.

Tax exemption for Real Estate Regulatory Authority: specified income notified, subject to non commercial status, return filing and audit certification.
Notification under section 10(46) declares Real Estate Regulatory Authority as a class of Authority for exemption of specified income: government grants/loans, fees/penalties from stakeholders under the Real Estate (Regulation and Development) Act, 2016, and interest on those receipts. The exemption is conditional on the Authority not engaging in commercial activity, maintaining the unchanged nature of activities and specified income across financial years, filing returns under clause (g) of sub section (4C) of section 139, and submitting an audit report with a chartered accountant's certificate confirming compliance.

Extension of time limits: specified tax compliance deadlines under the Income-tax Act and related Acts extended for filing and reporting.
Specified time limits under the Ordinance were extended by notification, designating end dates for the periods during which prescribed statutory time limits fall and separate end dates to which those time limits stand extended. For the Income-tax Act the notification sets specific extended deadlines for return filing for particular assessment years, furnishing TDS/TCS statements and certificates, applicability of certain deduction and exemption provisions, and submission of audit reports, while preserving a proviso that limits extension where residual tax liability exceeds a threshold and deeming timely paid advance tax by certain resident individuals as advance tax for proviso purposes.