Banks to seek more details from account holders under amended Income Tax Rules, 1962; check what new information you may have to share

New Income Tax Rules, 1962, mandate banks to gather extensive details on account holders and controlling individuals. This includes self-certification status, joint account specifics, and the nature ...
Tax Guru

Draft Income Tax Rules 85 and 86: Accountant’s Report under Section 172 and Safe Harbour Definitions for International Transactions

Rules 85 and 86 of the Draft Income-tax Rules, 2026 mandate accountant certification for international and specified domestic transactions and define key terms for safe harbour rules. The provisions ...

New draft Income tax rules may double your exemption limit; Rs 30 lakh salaried earner could save Rs 1.72 lakh a year

For salaried professionals without significant tax-saving investments or housing rent exposure, the new regime represents both simplicity and fiscal efficiency ...
The Financial Express

New HRA claim rules under Income-tax Act 2025: Rent paid to relatives to face scrutiny – here’s what changes

Salaried employees claiming HRA may soon face tighter disclosure norms under the Draft Income-tax Rules, 2026. The CBDT has ...
Tax Guru

Residential Status under Income-tax Act, 2025 – An Overview of Section 6

Residential status under Section 6 determines whether a taxpayer is liable for global income or only Indian-source income. The rules classify taxpayers as Resident, RNOR, or ...

Advance tax deadline on March 15: Who must pay, penalty rules, and how to avoid interest charges

The rule applies to individuals, professionals, freelancers, and businesses whose total tax liability exceeds ₹10,000 after accounting for tax deducted at source (TDS) or tax collected at source (TCS) ...

Can you claim Section 54EC exemption on a depreciated property? Here’s what tax rules say

Section 54EC provides for exemption to any assessee from long term capital gains arising from transfer of long term capital asset being a land or building if the capital gains are invested in capital ...

Warning: New IRS Instructions Limit ‘No Tax On Tips’ Deduction For Gig Workers

With the tax filing season already underway, revised 1040 instructions make the tips deduction more complicated and limited for the self-employed.

Understanding the impact of South Africa's donations tax changes on high-net-worth individuals

Discover how the South African government is tightening tax regulations to prevent high-net-worth individuals from exploiting donations tax exemptions. This article explores the implications of the ...

NRIs with big foreign tax payment need to get CA certificate to claim tax credit in their ITRs in India under draft tax rules 2026; Know more

Indians working abroad can claim Foreign Tax Credit (FTC) by filing Form 67. Draft rules propose renumbering it to Form 44, requiring CA certificates for companies and individuals with foreign tax ...

Will old tax regime regain its edge from April 1? Draft income tax rules 2026 may tilt balance for salaried taxpayers

The Draft Income Tax Rules 2026 propose a significant overhaul of tax-exempt allowances for salaried individuals, potentially ...
Business Day

Nigeria’s new tax regime: Income tracking powers of tax authorities and data protection concerns

Explore Nigeria’s 2025 tax reforms, digital asset taxation, and NRS income-tracking powers under data protection laws, with ...