CBDT notifies rules for simplified income tax law, to be effective from April 1

CBDT notifies rules for simplified income tax law, to be effective from April 1 https://www.taxtmi.com/news?id=71648 The notification establishes Income-tax Rules effective April 1 to implement the simplified Income-tax Act, preserving a refined House Rent Allowance framework with higher-city treatment and mandatory landlord-tenant disclosure for HRA claims; it tightens capital gains, non-resident taxation and stock-exchange rules, prescribes inclusion of pre-conversion holding time for converted securities when determining holding period, and imposes expanded auditor and corporate verification duties alongside over one hundred and fifty official forms. en-us Fri, 20 Mar 2026 14:46:03 +0530 Fri, 20 Mar 2026 14:46:03 +0530 TaxTMI RSS Generator CBDT notifies rules for simplified income tax law, to be effective from April 1 https://www.taxtmi.com/news?id=71648 The notification establishes Income-tax Rules effective April 1 to implement the simplified Income-tax Act, preserving a refined House Rent Allowance framework with higher-city treatment and mandatory landlord-tenant disclosure for HRA claims; it tightens capital gains, non-resident taxation and stock-exchange rules, prescribes inclusion of pre-conversion holding time for converted securities when determining holding period, and imposes expanded auditor and corporate verification duties alongside over one hundred and fifty official forms. News - Fri, 20 Mar 2026 14:46:03 +0530 https://www.taxtmi.com/news?id=71648