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The Finance Bill 2026 prioritizes stability and governance over tax relief. While rates and exemptions largely remain unchanged, reforms in compliance, filing timelines, and targeted deductions signal a shift from discretion to systems, simplifying the tax experience for Indian taxpayers.
This article provides an in-depth legal analysis of this issue, focusing on key provisions of Indian tax law, judicial precedents, FEMA regulations, and TDS obligations under Sections 192 and 195.
With the new Income Tax Act maintaining the existing set-off and carry-forward provisions, tax harvesting will continue to be a viable strategy for optimizing tax liability on capital gains.
CBIC introduced Form GST ENR-03. Effective from February 11, 2025, this form facilitates the enrollment of unregistered persons on the e-Way Bill portal, enabling them to generate e-Way Bills independently.
The Income Tax Bill 2025, introduced to replace the decades-old Income Tax Act of 1961, brings a wave of modernization and clarity to the Indian taxation system.
The Principal Purpose Test (PPT) is a provision under the Multilateral Instrument (MLI) to prevent treaty abuse and aggressive tax planning practices. It aims to ensure that treaty benefits are granted only when the principal purpose of a transaction or arrangement is genuine and not merely to obtain treaty benefits.
The landscape of professional services is undergoing a profound transformation, driven by the rapid advancement of Artificial Intelligence (AI).
In this analysis, we break down the key changes and explore their likely impact on India's middle class.
Key Changes in Classification Criteria
Section 194T is a new provision introduced by the Finance (No. 2) Act, 2024, effective from April 1, 2025. It mandates Tax Deduction at Source (TDS) on certain payments made by firms to their partners.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Naveen Fintech Pvt Ltd
Kolkata
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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