The release of the draft Income Tax Rules, 2026 has brought an unexpected twist to India’s tax reform journey. While the new rules aim to operationalise the New Income Tax Act, 2025 from April 1, 2026 and significantly simplify compliance, several provisions have quietly restored relevance to the old tax…
Tag: #TaxCompliance
News
CBDT Opens Feedback Window for New Tax Rules
In a significant step towards ensuring smoother implementation of the Income-tax Act, 2025, the Central Board of Direct Taxes (CBDT) has invited inputs and suggestions from stakeholders on the proposed Income-tax Rules and Forms. The consultation exercise comes ahead of the Act’s scheduled implementation from April 1, 2026. The Income-tax…
News
Machine-Based Levy on Gutkha & Chewing Tobacco FAQs
The Union government has released a comprehensive set of Frequently Asked Questions (FAQs) to clarify the new machine-based levy system for chewing tobacco, jarda scented tobacco and gutkha. Issued by the Central Board of Indirect Taxes and Customs (CBIC), the clarifications aim to help manufacturers understand the capacity-based excise duty…
News
Income Tax Refund Delays: IT Dept Flags Ineligible Claims
Amid mounting complaints from taxpayers over delayed income tax refunds for the assessment year 2025–26, the Income Tax Department has attributed the slowdown to a surge in ineligible deduction and exemption claims, urging affected individuals to file revised returns by December 31. The clarification comes as social media platforms and…
News
CBDT Launches Data-Driven NUDGE to Curb Bogus Tax Deductions
The Central Board of Direct Taxes (CBDT) has intensified its crackdown on bogus claims of deductions and exemptions under the Income Tax Act by adopting a robust, data-driven compliance strategy. As part of this initiative, the tax authority has launched a targeted taxpayer-friendly ‘NUDGE’ campaign to encourage voluntary correction of…