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 ...

The previous Income Tax Act was over 65 years old and had more than 800 sections. The new law reduces this to around 536 sections and removes many explanations and provisos that made the law ...

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

Draft Income-Tax Rules 2026 aim for voluntary compliance but require crucial changes to prevent taxpayers from paying twice. Key issues include protecting deductees from deductor defaults, ...

Draft Income Tax Rules 2026: Redesigned income tax return (ITR) forms, broader criterion for applicability of ITR forms, and more pre-filled details are some of the changes that income taxpayers can ...

Did our AI summary help? The Income Tax Act, 2025, is scheduled to be implemented from April 1, 2026, onwards, and there’s already a growing curiosity among taxpayers on how flexibly the provisions ...

The new income tax rules are not about sudden tax hikes. Instead, they focus on clarity, consistency and fewer disputes. The government is likely to notify the new Income-tax Rules in March, just ...

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 ...

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

Income-tax draft rules 2026: The draft document for the updated Income Tax rules 2026, set to come into effect from April 1 this year state changed numbers for Form 16 (TDS on salary) and Form 26AS ...