Income Tax Act, 2025: Complete Transition Guide & April 2026 TDS Compliance
1. THE NEW INCOME TAX ACT, 2025 — A HISTORIC OVERHAUL After 64 years, the Income Tax Act, 1961 stands repealed. The Income Tax Act, 2025 (ITA 2025) came into force on 1st April 2026, replacing every provision of the old Act with a cleaner, simplified framework. The Central Board of Direct Taxes (CBDT) also […]
Recent Changes in TDS – TCS :- Income Tax Act, 2025 (Effective 1 April 2026)
What has been Changed? With the Income Tax Act, 2025 coming into force on 1st April 2026, the Income Tax Rules, 2026 have completely renumbered and restructured all TDS and TCS sections and forms. Nearly every form and section that deductors, collectors, and deductees use on a routine basis has been assigned a new number. […]
Tax Compliance India: Key Updates, Rules & Judgments 2026
Government notifies new Income Tax Rules 2026 for stricter compliance The government has notified the Income Tax Rules, 2026, which will come into effect from the 1st of next month. The new rules aim to enhance compliance through stricter disclosures while simplifying tax procedures by reducing the number of rules. The rules mark a major […]
Income Tax Law Update: IT Act 2025 Forms, Major Tax Evasion Probe & Judicial Insights
Major Income Tax Forms – Quick Comparison of Income Tax Act, 1961 to Income Tax Act, 2025 The enactment of the Income Tax Act, 2025 marks a significant shift in the compliance framework of direct taxation in India. One of the notable changes is the renumbering and rationalisation of statutory forms prescribed under the Act. […]
Income Tax Advisory – Important Updates
1. The Central Board of Direct Taxes (CBDT)’s ongoing “NUDGE” campaign to verify deductions and exemptions The Income-tax Department has observed that certain taxpayers may have claimed ineligible refunds by reporting deductions or exemptions to which they were not entitled, leading to an understatement of income. To address this, such taxpayers are being contacted through […]
GST Compliance and Tax Advisory Services in India for Growing Businesses
If you run a business in India, GST is not optional. But confusion around GST is almost guaranteed. Most business owners start with good intentions. They register on time, file returns, maybe even buy GST software. And for a while, things seem fine. Then the business grows. Transactions increase. Vendors don’t file correctly. Input tax […]
Direct Tax Updates & Recent Judgements for Income Tax Advisory Professionals
1. TDS credit can’t be denied merely for non-reflection in Form 26AS Form 26AS is an annual tax statement prepared by the Income Tax Department that acts like your official tax ledger for the year. It shows all the tax that has been deducted from your income by others, such as your employer, clients, banks, […]
Recent Judgements in Direct Tax
1. Penalty for Non-Disclosure of Foreign Assets Is Discretionary This Special Bench ruling of the Income Tax Appellate Tribunal (ITAT), Mumbai examined the scope and nature of Section 43 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Facts of the Case Husband and wife failed to report their […]