Income Tax 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 | 225 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 | 1995 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 | 5427 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 | 2289 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 | 63 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 | 462 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 | 249 Views

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 | 2652 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 | 3735 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 | 177 Views