Living overseas does not automatically make an Indian citizen a non-resident for income-tax purposes, even after the Income-tax Act, 2025 came into force on 1 April 2026. The rules for tax residency,…
Taxpayers can now seek a waiver of penalty for income misreporting using the revised Form 161, notified by the Central Board of Direct Taxes (CBDT). The form, applicable from October 8, 2026,…
Interest earned by a debt mutual fund scheme on its underlying securities stays within the fund and is reflected in its NAV. For units held under the growth option that are not…
The Central Board of Direct Taxes (CBDT) on 8 October introduced a revised Form 161, allowing eligible taxpayers, including individuals, to apply for waiver of penalty imposed for misreporting of income or…
The Employees' Provident Fund Organisation (EPFO) has announced changes to rules for TDS exemption on PF withdrawals. From the 2026-27 tax year, eligible members must use Form 121 instead of the earlier…
From Tax Year 2026-27, which began on 1 April 2026, TDS and TCS statements can be filed directly online through the TRACES portal, eliminating the earlier two-step process of filing through the…
Payments made to contractors for construction, repair or renovation work from 1 April 2026 are subject to TDS under Section 393(1) of the Income-tax Act, 2025. For a company, firm or government…
The Income-tax Act, 2025, effective from 1 April 2026, retains the 30 per cent flat tax on all gains from transferring virtual digital assets (VDAs), including cryptocurrencies and NFTs, experts said.
The Income Tax Act 2025 introduces Form 141, a unified challan-cum-statement for reporting tax deducted at source (TDS) on specified transactions. It replaces the earlier Forms 26QB, 26QC, 26QD and 26QE used…
The Income-tax Act, 2025, effective from April 1, 2026, retains largely unchanged tax treatment for futures and options (F&O) traders. F&O transactions continue to be treated as non-speculative business income, not capital…
Ashin Xavier: interesting
IO Repro: Repro test v4 after fix 2 Oct. Safe to trash.
IO Repro: Repro test v3 after fix 2 Oct. Safe to trash.
IO Repro: Repro test after fix 2 Oct. Safe to trash.