{"product_id":"guide-to-income-tax","title":"Guide to Income Tax","description":"\u003ch3 class=\"MsoNormal\" style=\"text-align: center;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDIVISION 1\u003c\/span\u003e\u003c\/span\u003e\u003c\/h3\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eAMENDMENTS AT A GLANCE\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 1 Analysis of Amendments made by the Finance Act, 2026 \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 2A Tax Rates and Charge of Income Tax \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 class=\"MsoNormal\" style=\"text-align: center;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDIVISION 2\u003c\/span\u003e\u003c\/span\u003e\u003c\/h3\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eLAW, PRACTICE \u0026amp; PROCEDURE\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 3 Residential Status \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 4 Non-Resident Taxation \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 5 Salaries \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 6 House Property \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 7 Profits and gains of business or profession \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 8 Capital Gains \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 9 Income from other sources \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 10 Clubbing \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 11 Set-Off \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 12 Deductions \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 13 Tax Deduction at Source (TDS) \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 14 Tax Collection at Source (TCS) \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 15 Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 16 Return of Income \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 17 Tax Administration \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 18 Interest, Fees and Penalties \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 class=\"MsoNormal\" style=\"text-align: center;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDIVISION 3\u003c\/span\u003e\u003c\/span\u003e\u003c\/h3\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eMISCELLANEOUS\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 19 Gold \u0026amp; Silver Rates (2001–2026) and Cost Inflation Index \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 class=\"MsoNormal\" style=\"text-align: center;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDIVISION 4\u003c\/span\u003e\u003c\/span\u003e\u003c\/h3\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eSUPREME COURT \u0026amp; HIGH COURTS ON INCOME TAX\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eSupreme Court \u0026amp; High Courts on Income Tax \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 class=\"MsoNormal\" style=\"text-align: center;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDIVISION 5\u003c\/span\u003e\u003c\/span\u003e\u003c\/h3\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eCBDT CIRCULARS \u0026amp; GOVERNMENT NOTIFICATIONS\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eA. Income-tax Act, 1961 \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eB. Wealth-tax Act, 1957 \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eC. Expenditure-tax Act, 1987 \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eD. Banking Cash Transaction Tax \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 class=\"MsoNormal\" style=\"text-align: center;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDIVISION 6\u003c\/span\u003e\u003c\/span\u003e\u003c\/h3\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eMODEL DEEDS\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eModel Deeds \u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 class=\"MsoNormal\" style=\"text-align: center;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDIVISION 7\u003c\/span\u003e\u003c\/span\u003e\u003c\/h3\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eALLIED LAWS REFERRED TO IN INCOME-TAX ACT, 2025\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\n\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eAllied Laws Referred to in Income-Tax Act, 2025 \u003c\/span\u003e\u003c\/span\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e\u003c\/span\u003e\u003c\/span\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDetailed Contents\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003ch3 class=\"MsoNormal\" style=\"text-align: center;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eDivision 1\u003c\/span\u003e\u003c\/span\u003e\u003c\/h3\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eAMENDMENTS AT A GLANCE\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 1\u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eAnalysis of Amendments made by the Finance Act, 2026\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1. Tax Rates \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(1) Individual Income Tax Rates \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(2) Corporate Tax Rates \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(3) Rationalisation of Minimum Alternate Tax (MAT) Provisions \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(4) Co-operative Societies \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(5) Firms (Partnership Firms and LLPs) \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(6) Local Authorities \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e2. Profits and Gains from Business or Profession \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(1) Rationalisation of due date for Crediting Employee Contribution to Claim Deduction \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(2) Expansion of Presumptive Taxation to SEZ Units \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(3) Tax Deduction for Prospecting and Exploration of Critical Minerals — Expansion of Schedule XII \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(4) Allowing Deduction to Non-Life Insurance Business When TDS Not Deducted Earlier Is Paid Later — Amendment to Schedule XIV \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(5) Extension of Tonnage Tax Scheme to Inland Vessels — Amendments to Sections 227, 228, 232, and 235 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(6) Alignment of Annual Value of Stock-in-Trade Property — Amendment to Section 21(5) \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(7) Definition of \"Commodity Derivative\" — Amendment to Section 66 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(8) Summary Table: Key Amendments at a Glance \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e3. Capital Gains \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(1) Rationalisation of Taxation on Buy-Back of Shares — Amendment to Section 69 of the Income-tax Act, 2025 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(2) Restriction of Sovereign Gold Bond Exemption to Original Subscribers — Amendment to Section 70(1)(x) of the ITA, 2025 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(3) Exemption of Income on Compulsory Acquisition of Land under the RFCTLARR Act — Amendment to Schedule III of the ITA, 2025 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(4) Non-Allowability of Interest Deduction Against Dividend Income and Income from Units of Mutual Funds \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(5) Rationalisation of Tax Rate on Unexplained Income under Section 195 of the ITA 2025 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(6) Rationalisation of Certain Terms for Treasury Centres in IFSC (Amendment to Definition of \"Dividend\") \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(7) Benefit to startups \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e4. International Tax And Nri Taxation \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(1) Extension of IFSC and OBU Tax Holiday to 20 Years and Post-Holiday Concessional Tax Rate \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(2) New Exemptions for Foreign Companies and Non-Resident Individuals under Schedule IV \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(3) Rationalisation of Tax Collected at Source (TCS) on Overseas Remittances, Tour Packages, and Education\/Medical Remittances \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(4) Relaxation of Specified Fund Rules under Schedule VI of the ITA 2025 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(5) Simplification of TDS Compliance for NRI Property Transactions \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e5. Transfer pricing \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(1) Unified Safe Harbour For Information Technology Services \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(2) New Safe Harbour for Data Centre Services \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(3) New Safe Harbour for Electronic Goods in Bonded Warehouses \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e6. Dispute Resolution \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(1) Advance Pricing Agreement (APA) Framework – Fast-Track Process and Modified Returns for Associated Enterprises \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(2) Clarification of the 60-Day TPO Order Timeline (Retrospective from June 1, 2007\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(3) Clarification of DRP Assessment Time Limits \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(4) Rationalisation of Return Filing Due Dates \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(5) Extension of Revised Return Filing Period from 9 Months to 12 Months \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(6) Expanded Scope of Updated Returns — Loss Reduction and Reassessment Response \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(7) Clarification of Jurisdiction for Reassessment Notices — New Section 147A \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(8) Providing time lines for framing assessments where revenue succeeds in courts \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(9) Removing the power of arrest and detention by TRO \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(10) Clarity on Set off and withholding of refunds \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(11) Suspension of Interest on Penalty Demands during Appeals — Section 220(2) Amendment \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(12) Enhanced Dispute Resolution Committee (Drc) — Section 245ma Amendment \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(13) Reduction of Mandatory Pre-Deposit for Appeals — From 20% To 10% \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(14) Mandatory uploading of order of Appellate Tribunal on the designated portal. \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(15) Circumstances in which approval not to be invalid \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(16) Din (Document Identification Number) Validation – Retrospective Clarification\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e7. Penalty And Prosecution \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(1) Penalty for Under-Reporting and Misreporting to be imposed within the Assessment Order \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(2) Expansion of Immunity from Penalty and Prosecution to Misreporting Cases — Section 440 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(3) Decriminalisation of Tax Offences — Substitution of Sections 476 through 481\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(4) Amendments to False Statements, Falsification and Abetment — Sections 482, 483, 484, 485 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(5) Conversion of Procedural Penalties into Fixed Fees — Sections 446, 447, and 454 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(6) Disclosure of Confidential Information — Section 280 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e8. Foreign Assets of Small Taxpayers — Disclosure Scheme, 2026 (Fast- 2026) \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(1) Introduction and Legislative Framework \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(2) Eligibility And Declaration \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(3) Amount Payable By The Declarant \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(4) Manner of Declaration and Payment \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(5) Immunity from Penalty and Prosecution — Clauses 120, 121, and 123 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(6) Rationalisation of Prosecution under the Black Money Act — Rs 20 Lakh Threshold \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e(7) Non-Refundability and Bar on Remedies \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003eChapter 2\u003c\/span\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp class=\"MsoNormal\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e Tax Rates and Charge of Income Tax \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1. Tax Rates for Tax Year 2026-2027\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.1 Individual Income Tax Rates \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.2 Default Tax Regime (New Regime) – Section 202 \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.3 Old Tax Regime (Optional): \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.4 Surcharge on Individual Income Tax: \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.5 Health and Education Cess \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.6 Corporate Tax Rates \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.7 Domestic Companies \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.8 Foreign Companies \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.9 Surcharge on Corporate Tax \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.10 Health and Education Cess \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.11 Rationalisation of Minimum Alternate Tax (MAT) Provisions \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.12 Reduction in MAT Rate \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.13 MAT as Final Tax under Old Regime \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.14 Restricted MAT Credit Set-off under New Tax Regime \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.14.1 Domestic Companies – New Sections 206(3) and 206(4) \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.14.2 Foreign Companies – Limited Set-off \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.15 Consequential Amendments: \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.16 Exclusion from MAT for Specific Non-Residents: \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.17 Practical Numerical Examples \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e1.18 Firms (Partnership Firms and LLPs) \u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp class=\"MsoNormal\" style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-family: Arial, ’sans-serif’;\"\u003e\u003cspan\u003e2. Rates of Tax for Assessment Year 2026-27\u003c\/span\u003e\u003c\/span\u003e\u003c\/p\u003e","brand":"Bharat Law House Pvt. Ltd.","offers":[{"title":"Default Title","offer_id":43053007339729,"sku":null,"price":2216.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0650\/3763\/1697\/files\/GuidetoincometaxMOCKUP_jpg.jpg?v=1775812095","url":"https:\/\/shop.taxscan.in\/products\/guide-to-income-tax","provider":"Shopscan","version":"1.0","type":"link"}