Income Tax News

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 | 4698 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 | 5274 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 | 6054 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 | 3951 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 | 5001 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 | 5559 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 | 672 Views

Raghav Chadha Calls for Nil LTCG Tax on Equity Investments for Individual Investors

10 February 2026 at 09:59

AAP Rajya Sabha MP Raghav Chadha urges the Centre to abolish LTCG tax on equity investments for individuals, backs higher STT on derivatives to curb speculation, and cites global examples to promote long-term investing and wealth creation.

Posted in Income Tax | 1164 Views

CBDT Proposes New Form 130 for TDS on Salary, Pension and Interest Income Under IT Act

10 February 2026 at 06:49

CBDT introduces Draft Form 130 to consolidate TDS certification for salary, pension and specified senior citizen interest income, detailing tax deduction, deposit, and computation under the Income-tax Act.

Posted in Income Tax | 6753 Views