CAclubindia News

New Reporting Framework for Payments to Non-Residents and Foreign Companies

14 February 2026 at 06:49

Draft Form No 145 proposes detailed reporting requirements for remittances to non-residents and foreign companies, covering TDS compliance, Section 395 certification, DTAA relief claims, and cross-border payment disclosures under the Income-tax Act.

Posted in Income Tax | 1 comments | 1491 Views

Draft Form 103 Prescribes 30-Day Payment Rule for Tax Demand

14 February 2026 at 06:48

Draft Form No. 103 outlines the procedure for tax demand recovery under Section 289, including a 30-day payment timeline, interest under Section 411 and penalty provisions.

Posted in Income Tax | 1 comments | 2682 Views

Exceptions for Cash Payments Above Rs 10,000 under Rule 26 of Draft IT Rules 2026

14 February 2026 at 06:48

Rule 26 under Draft Income Tax Rules, 2026 outlines cases where cash payments exceeding Rs 10,000 will not attract disallowance under Sections 36(4) and 36(5). Check the full list of exemptions.

Posted in Income Tax | 1 comments | 22164 Views

Middle Class Not Crushed by Taxes, Says FM Sitharaman Amid Income Tax Debate

14 February 2026 at 06:48

Finance Minister Nirmala Sitharaman says rising personal income tax collections reflect middle-class expansion and economic growth, not suppression.

Posted in Income Tax | 1 comments | 2730 Views

Rule 18 Specifies Conditions for Medical Perquisite Exemption Under Section 17

14 February 2026 at 06:48

Draft Income Tax Rules 2026 introduce Rule 18 specifying hospital approval norms and prescribed diseases for medical perquisite exemption under Section 17(2)(b)(ii). Check infrastructure, staffing and compliance requirements.

Posted in Income Tax | 1 comments | 459 Views

Vivek Tankha Calls for CA Protection Act, Flags Big Four Dominance in India's Audit Sector

13 February 2026 at 09:27

Congress MP Vivek K. Tankha demands a CA Protection Act in Parliament, citing privacy concerns, agency scrutiny, and the growing dominance of Deloitte, PwC, EY and KPMG in India's audit sector.

Posted in Professional Resource | 1 comments | 3669 Views

ICAI elects New Torchbearers for the year 2026-27

13 February 2026 at 09:06

The 26th Council of ICAI has elected CA Prasanna Kumar D as its 74th President and CA Mangesh Pandurang Kinare as Vice-President for 2026-27.

Posted in Professional Resource | 1 comments | 3720 Views

Draft Income Tax Rules 2026: Rule 9 on Determination of Income for Non-Residents

13 February 2026 at 09:03

Rule 9 of the Draft Income-tax Rules 2026 outlines how Assessing Officers can determine taxable income of non-residents when exact India-sourced income cannot be ascertained. Know the methods and implications.

Posted in Income Tax | 1 comments | 639 Views

Zero Coupon Bonds Under Draft IT Rules 2026

13 February 2026 at 08:59

Rule 7 of the Draft Income-tax Rules, 2026 prescribes detailed guidelines for notification of zero coupon bonds by infrastructure entities and PSUs. Know eligibility, investment conditions, compliance timelines and government approval process.

Posted in Income Tax | 1 comments | 492 Views

Union Budget 2026-27: Total Expenditure Set at Rs 53.47 Lakh Crore

12 February 2026 at 10:13

Union Budget 2026-27 pegs total expenditure at Rs 53.47 lakh crore with capital expenditure of Rs 12.2 lakh crore and fiscal deficit target at 4.3% of GDP. FM Nirmala Sitharaman emphasizes growth with fiscal discipline.

Posted in Union Budget & Policy | 1 comments | 942 Views