Income Tax Articles

Notice Under Sections 263 and 377 of the Income Tax Act: Reply, Remedies and Mitigation

CA Varun Gupta 18 April 2026 at 10:15

A comprehensive analysis of Section 263 of the Income-tax Act, 1961 and Section 377 of the Income-tax Act, 2025, explaining revisional powers, jurisdictional tests, limitation, remedies and transition rules for orders prejudicial to the Revenue.

Taxability of Loan Waiver Explained: Interest vs Principal Treatment in Income Tax

Vivek Jalan 18 April 2026 at 10:15

Understand the taxability of loan waiver in India, including interest and principal components. Learn how courts interpret capital vs revenue receipts with key rulings like Mahindra & Mahindra and TV Sundaram Iyengar, and the importance of the purpose test.

Savings Bank Account Limit As Per New Income Tax Rules 2026

Poojitha Raam Vinay 17 April 2026 at 16:37

Stay compliant with the new Income Tax framework for 2026. Learn how the revised Rs 10 lakh annual cash deposit limit, updated PAN requirements, SFT reporting rules, and TDS provisions impact your savings account transactions, cash handling, and tax filings in India.

DIN Defect in Income Tax Orders after CBDT Circular No. 4/2026: Section 292BA, Retrospective Amendment and Assessee's Grounds of Appeal

CA Varun Gupta 17 April 2026 at 09:10

CBDT Circular 4/2026 revises the DIN framework in income-tax communications, introducing section 292BA with retrospective effect. This article analyses key changes, limitations, and continuing litigation opportunities for taxpayers.

Supreme Court on Section 2(15): Key Rules for GPU Charitable Trusts Explained (2022 Landmark Ruling)

Vivek Jalan 17 April 2026 at 09:08

Supreme Court in Ahmedabad Urban Development Authority (2022) clarifies GPU entities’ tax exemption: limits on commercial activities, 20% receipt cap, cost-based pricing test, and key ITAT rulings shaping Section 2(15) & 11 compliance.

PAN Application Using New Forms as per Income-Tax Rules 2026

Chaitra Seetharam 16 April 2026 at 12:07

The new PAN application system effective April 1, 2026 introduces Forms 93-96, replacing Forms 49A/49AA. Learn applicant categories, key rule changes, documentation requirements, and updated PAN correction forms.

Slump Sale Taxation of Branch or Business Transfer in India: Section 50B, Rule 11UAE, Net Worth, Capital Gains and GST

CA Varun Gupta 16 April 2026 at 09:09

Comprehensive guide to slump sale under the Income Tax Act: understand Sections 2(42C) and 50B, Rule 11UAE valuation, net-worth computation, capital gains, and GST implications for business transfer vs asset sale.

Important things to know about New Income Tax Act 2026 Transition

CA Umesh Sharma 15 April 2026 at 10:09

India's new Income Tax framework from April 1, 2026 simplifies laws with fewer sections, unified forms, and revised timelines. Explore key procedural changes, ITR filing rules and compliance updates taxpayers must know.

Form 10A Delay Relief: CBDT Clarifies PCIT/CIT as Competent Authority

CA Varun Gupta 15 April 2026 at 10:09

CBDT Circular 01/2026 clarifies that jurisdictional PCIT/CIT, not CPC Bengaluru can condone delay in Form 10A under Section 12A. Know the impact, process and relief available for charitable trusts.

Income Tax Act 2025 vs 1961: What Actually Changed for Salaried Professionals

Diksha Chawla 14 April 2026 at 10:10

Understand what really changed with the Income Tax Act 2025, no change in tax rates or slabs, but major updates in structure, section numbers, TDS rules and compliance procedures. Learn how it impacts your July 2026 ITR filing, new forms, Tax Year concept, and what stays the same for salaried taxpayers and professionals.