Income-tax

Experts flag ambiguity over applicability of legacy circulars under the new Income-tax Act, 2025, seeking clarity to reduce disputes and ensure uniform compliance

From tax perks to higher PF deductions, April 1 brings a major reset to your salary structure. Here’s what changes, what you gain, and where you lose.

Income Tax Return (ITR) forms for Assessment Year 2026–27 (AY27) have been notified, alongside updates to the compliance mechanism and verification rules.

Experts say advance pricing agreements will continue to be preferred by large firms for flexibility, certainty, and cross-border alignment despite simplified safe harbour rules

With high-value immovable property gifts now under SFT reporting, scrutiny will rise, making accurate disclosure of such transactions in income tax returns increasingly important

New guidelines introduce flexibility in quoting DIN in tax communications while ensuring traceability and reducing litigation over procedural lapses

The Income Tax Department has signed a record 219 advance pricing agreements (APA) in the current fiscal year ending March 31. With this the total APAs signed so far stood at 1,034. "CBDT signs a record 219 Advance Pricing Agreements in FY 2025-26, the highest ever in a single FY, crossing the record of 174 APAs signed last year," the I-T department said in a post on X. The success of the APA programme has significantly contributed to ease of doing business, particularly for multinational enterprises engaged in cross-border transactions, it added. "The APA programme, together with Safe Harbour Rules, provides tax certainty, reduces disputes, and strengthens a transparent and non-adversarial tax regime," CBDT said. Also, CBDT has concluded a record-breaking 84 BAPAs (Bilateral Advance Pricing Agreement) with 13 treaty partners, the highest ever in India's BAPA history. During this year, the first-ever BAPAs were signed with France, Indonesia, Ireland, and Sweden, building avenues

From income tax rules to ATM charges and salary structure, April 1, 2026 brings a major financial reset. Here are key changes that will directly impact your money.

Union Budget-driven changes introduce new Income Tax Act, GST 2.0 rationalisation, and compliance reforms aimed at simplifying taxation and boosting transparency

Fortis Healthcare Ltd on Saturday said its arm Fortis Hospitals Ltd has received a demand notice of Rs 117.04 crore from the income tax authority. Fortis Hospitals Ltd is in receipt of an income tax order dated March 27, 2026, for AY 2024-25 and a demand of Rs 117.04 crore has been raised, it said in a regulatory filing. The company is evaluating all options, including filing an appeal and rectification application against the said order, it added.

India has notified the Income-tax Rules, 2026 ahead of April 1 rollout. From EV tax perks and expanded HRA benefits to tighter crypto reporting and no change in tax slabs,

New Income-tax Rules, 2026 introduce a single registration form and cut record retention to six years, reducing compliance burden for charitable trusts and non-profits

New rules expand HRA benefits to more cities, clarify EV taxation, tighten reporting norms and streamline transfer pricing and foreign tax credit processes

Central Board of Direct Taxes on Friday notified the rules for Income-tax Act, 2025 which provided enhanced tax benefit for HRA to salary earner but makes disclosure of landlord-tenant relationship mandatory. The Income-tax Rules, 2026 will operationalise the simplified direct tax legislation that was approved by Parliament last year and will come into effect from April 1. "These rules may be called the Income-tax Rules, 2026. They shall come into force on the April 1, 2026," a gazette notification said. Parliament on August 12, 2025 passed a new Income Tax Bill to replace the six-decade-old Income Tax Act, 1961. It does not impose any new tax rate and only simplified the language, which was required for understanding the complex Income Tax laws. The Act has removed redundant provisions and archaic language and reduces the number of Sections from 819 in the Income Tax Act of 1961 to 536 and the number of chapters from 47 to 23. The number of words had been reduced from 5.12 lakh t

Net direct tax collection for FY26 as of March 17 grew 7.19 per cent to ₹22.80 trillion, driven by higher corporate and non-corporate taxes

Companies must disclose exposure to Pillar Two income taxes under revised AS 22, while small and medium-sized firms are exempt from the new requirements

The National Consumer Disputes Redressal Commission (NCDRC) has directed Axis Bank to pay Rs 3.19 crore to a Delhi-based logistics company, holding the bank guilty of "deficiency in service" for refusing to accept demonetised currency notes for deposit during the 2016 demonetisation window. The commission, comprising presiding member AVM J Rajendra and judicial member Anoop Kumar Mendiratta, was hearing an appeal filed by Procure Logistics Services Pvt Ltd against the Axis Bank. In an order dated March 10, the commission said, "The bank clearly failed by repeatedly disallowing the complainant to deposit the notified cash into its own KYC-compliant account, despite multiple requests and persisted with this till the entire timeline lapses." It was alleged that the bank refused to accept the notes during the limited period allowed after the government announced demonetisation on November 8, 2016. The commission noted that nothing prevented the bank from accepting the cash and reportin

Finance panel notes rising delays in income tax refunds beyond the 90-day norm and flags a surge in outstanding direct tax arrears

Income Tax Department has asked brokers to deposit excess securities transaction tax collected from clients for FY24 and earlier years along with interest

A data analytics-driven probe by the Income Tax Department has uncovered ₹4.08 billion in suppressed sales in the restaurant sector, prompting surveys across 46 cities nationwide