CAclubindia News

New Quarterly TCS Filing Gets Revamp with Draft Form 143

12 February 2026 at 06:44

CBDT releases Draft Form No. 143 for quarterly TCS statements under Section 397 of the Income-tax Act, 2025. Know applicability, reporting structure, collection codes and compliance requirements.

Posted in Income Tax | 1 comments | 3690 Views

Draft IT Rules 2026: No Refund, No Interest & Higher TDS for Inoperative PAN

12 February 2026 at 06:44

Rule 162 of the Draft Income Tax Rules, 2026, explains when PAN becomes inoperative for failure to link Aadhaar under Section 262(6). Know the impact on tax refunds, higher TDS/TCS rates, interest loss and the 30-day reactivation process.

Posted in Income Tax | 1 comments | 6765 Views

Rule 160 Mandates Electronic Filing of Form 97 Declarations

12 February 2026 at 06:44

Rule 160 of the Draft Income-tax Rules, 2026 prescribes the time limit, electronic filing procedure, verification requirements, and record retention norms for furnishing statements of Form No. 97 under Rule 159. Know who must comply and key due dates.

Posted in Income Tax | 1 comments | 969 Views

Form 140 and Form 144 Notified: Major Changes in Quarterly TDS Statements

12 February 2026 at 06:44

CBDT introduces Form 140 for resident payments and Form 144 for non-resident payments under section 397. Read full details of quarterly TDS reporting, annexures, section codes, compliance impact and key changes.

Posted in Income Tax | 1 comments | 4944 Views

CBDT Proposes New Quarterly TDS Reporting on Salary and Senior Citizen Income

12 February 2026 at 06:44

CBDT has proposed Draft Form No. 138 for quarterly TDS statements under sections 392 and 393 covering salary and specified senior citizen income.

Posted in Income Tax | 1 comments | 5361 Views

PAN Quoting Threshold Limits for Banking, Property & Cash Deals under Draft Income Tax Rules, 2026

11 February 2026 at 07:04

Rule 159 of Draft Income-tax Rules, 2026 prescribes transaction-wise PAN thresholds for banking, property, deposits, cash payments and services.

Posted in Income Tax | 1 comments | 6255 Views

New PAN Application Process Under Draft Income Tax Rules, 2026

11 February 2026 at 07:03

Draft Income Tax Rules, 2026 introduce Rule 158 prescribing a revised procedure for allotment of Permanent Account Number (PAN), including application forms, timelines and digital verification norms under the Income Tax Act, 2025.

Posted in Income Tax | 1 comments | 4098 Views

Annual Information Statement (AIS) Gets New Format Under Draft Form No. 168

11 February 2026 at 07:00

CBDT releases Draft Form 168 proposing a structured Annual Information Statement covering TDS, financial transactions, tax payments, demands, refunds and proceedings. Learn key features and implications.

Posted in Income Tax | 1 comments | 5118 Views

New CA Certificate for Payments to Non-Residents Explained

11 February 2026 at 06:57

CBDT releases Draft Form No. 146 prescribing a new accountant certificate for payments to non-residents and foreign companies. Check applicability, DTAA reporting, TDS rules and key disclosures.

Posted in Income Tax | 1 comments | 5727 Views

New Audit Report Framework for Registered NPOs Under Income Tax Act, 2025

11 February 2026 at 06:55

CBDT releases Draft Form No. 112 prescribing a detailed audit report for registered non-profit organisations under the Income-tax Act, 2025, effective from AY 2026-27.

Posted in Income Tax | 1 comments | 846 Views