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

The proposed amendments rationalise tax provisions, simplify reporting rules, and introduce clearer deductions and exemptions. The reforms aim to improve voluntary compliance and reduce tax ...

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.

While the Income Tax Act 2025 replaces the existing six-decade-old Income Tax Act, 1961, taxpayers are unlikely to see any immediate changes in tax slabs or rates.

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 Tribunal confirmed the addition of ₹19.27 lakh under Section 69A after finding that the assessee failed to produce ...

Pointing out that judicial review was available over reasons for search, the Court refused to accept that the provision was unconstitutional.

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 ...

The Indian government is forming a high-level panel to integrate Income Computation and Disclosure Standards (ICDS) with Indian Accounting Standards (Ind AS).

One of the most significant changes is in Tax Audit reporting, where the earlier Forms 3CA and 3CB have now been replaced by Form 26. The new form reportedly contains 55 segment-wise clauses, ...

A dispute involving a prominent company recently demonstrated how the sudden demise of the owner/ promoter, compounded by complex family dynamics, can disrupt carefully structured succession planning.

Those who stand to benefit from the changes in tax code include workers who earn tips, those receiving overtime pay, ...