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