New Amendment To The Income-Tax Rules 2026: How They Affect Bank Customers & Crypto Holders?

The Income-tax Rules, 1962 have been amended by the Central Board of Direct Taxes (CBDT) in a notification dated March 5, 2026.

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

Ex-Parte Assessment Reopened After Trust Produced Registration and Supporting Documents in Appeal

The ITAT Ahmedabad cancelled the penalty under Section 271(1)(c) after setting aside the assessment for fresh adjudication, holding that penalty based on the original order cannot survive once the ...
Tax Guru

Penalty for Non-Compliance Cannot Stand When Assessment Is Completed Under Section 143(3)

The ITAT Indore held that penalty under Section 272A(1)(d) cannot survive where the assessment is completed under Section 143(3) after considering the taxpayer’s delayed submissions, as such ...

Income tax: 7 major tax changes taking effect from 1 April — explained

Income Tax: The Union Budget 2026 introduces amendments to the Income Tax Act that simplify compliance for taxpayers. Here is a list of crucial changes for Indian taxpayers.
Hindustan Times

War veterans in Rajasthan call on govt to restore I-T exemption on disability pension

Jaipur, The disabled war veterans of Indian defence forces in Rajasthan have urged the Centre to reconsider the decision to withdraw income tax exemption on pensions they received for injuries ...