Income Tax News
Provident Fund Contributions Above Threshold? Here's How Rule 277 Taxes Interest
16 February 2026 at 08:43Rule 277 under Draft Income Tax Rules 2026 explains how taxable interest on provident fund contributions exceeding Rs 2.5 lakh or Rs 5 lakh will be calculated and tracked.
Special Allowance Tax Relief: How Rule 279 Changes Exemption Limits
16 February 2026 at 08:43Rule 279 introduces clear limits for exemption of special allowance under Schedule III, detailing calculation methods, salary definition, and metro vs non-metro limits.
New Reporting Framework for Payments to Non-Residents and Foreign Companies
14 February 2026 at 06:49Draft 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.
Draft Form 103 Prescribes 30-Day Payment Rule for Tax Demand
14 February 2026 at 06:48Draft 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.
Exceptions for Cash Payments Above Rs 10,000 under Rule 26 of Draft IT Rules 2026
14 February 2026 at 06:48Rule 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.
Middle Class Not Crushed by Taxes, Says FM Sitharaman Amid Income Tax Debate
14 February 2026 at 06:48Finance Minister Nirmala Sitharaman says rising personal income tax collections reflect middle-class expansion and economic growth, not suppression.
Rule 18 Specifies Conditions for Medical Perquisite Exemption Under Section 17
14 February 2026 at 06:48Draft 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.
Draft Income Tax Rules 2026: Rule 9 on Determination of Income for Non-Residents
13 February 2026 at 09:03Rule 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.
Zero Coupon Bonds Under Draft IT Rules 2026
13 February 2026 at 08:59Rule 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.
New Quarterly TCS Filing Gets Revamp with Draft Form 143
12 February 2026 at 06:44CBDT 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.
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