Income Tax

IBC-tax law mismatch clouds loss carry-forward benefits: Experts

Under the Insolvency and Bankruptcy Code (IBC), financially stressed companies can be taken over by new owners through a resolution process

Presumptive taxation: Explain income-investment gap with clear proofs

Reconcile investment details with bank records, Form 26AS and AIS before tax filing

Old vs new tax regime: Higher allowances, HRA changes warrant a review

Employees whose cost to company includes these components may find the old regime more beneficial this year

Broader 'export incentives' definition in ITA 2025 prompts CBDT clarity

Experts warn wider wording in new income-tax law could expand tax scope to indirect benefits, urging CBDT to clarify and prevent disputes for exporters

Form 121: Aggregate of small incomes shouldn't breach exemption limit

The Income-tax Rules, 2026, mark a major clean-up of the compliance framework

Foreign-hallmarked gold found in I-T raids on TMC MLA aide; DRI may probe

Investigators uncover foreign-marked bullion during tax raids linked to TMC MLA aide, prompting possible DRI probe amid scrutiny of asset disclosures

I-T searches at TMC MLA's properties in Kolkata ahead of Bengal polls

The Income Tax Department on Friday conducted searches at two premises linked to TMC MLA Debasish Kumar, who is seeking a re-election from the Rashbehari seat in south Kolkata, officials said. Simultaneous searches began at his house on Manoharpukur Road and his election office around 6 am, they said. The reason behind the searches was not immediately known. Kumar had recently been summoned multiple times by the Enforcement Directorate in connection with a land fraud case. He was called for questioning at the CGO Complex in Salt Lake on April 1, 3 and 9, and had appeared before the agency. The ED aimed to determine whether Kumar had any financial transactions with businessman Amit Gangopadhyay, whose property was recently searched by the central agency, officials said. Polling in the Rashbehari constituency will be held in the second phase of the assembly elections on April 29, with counting scheduled on May 4. The BJP has fielded columnist Swapan Dasgupta as its candidate in the

Charities, trade bodies come under Income-Tax Department scrutiny

The Income Tax Department has issued notices to trusts and associations, flagging "commercial receipts" and questioning their eligibility for tax exemptions under the law

APAs may remain relevant despite expanded safe harbour regime

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

CBDT urged to issue master circular on legacy tax guidance in new I-T law

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

New Income Tax rules: What will be your take-home salary? | Basic pay | PF rules

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.

All about ITR forms for AY27: How to choose the right ITR form? | ITR-1 | ITR-2 | ITR-3 | ITR-4

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

Disclose high-value property gifts, taxable or exempt, in tax return

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

CBDT issues revised DIN norms, replaces 2019 circular on tax notices

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

Income Tax Dept signs record 219 advance pricing agreements in FY26

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

Explained: 7 financial changes from April 1

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.

FY26 marks sweeping tax overhaul with new income tax law, GST reforms

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 arm receives ₹117 crore income tax demand, weighs appeal

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.

New income-tax rules 2026 notified: What changes for your salary, HRA, EV perks and compliance

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: Registration to become simpler for charitable trusts

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