Day: February 8, 2026

lipped from: https://www.financialexpress.com/money/draft-guidelines-for-new-i-t-act-released-by-cbdt-4135138/ The Central Board of Direct Taxes (CBDT) has released the draft Income-tax Rules, 2026, marking a major procedural overhaul to align with the

Clipped from: https://www.financialexpress.com/money/govt-publishes-draft-income-tax-rules-2026-how-itr-1-to-itr-7-may-change-for-taxpayers-4135302/ From April 1, 2026, India’s new Income-tax Act, 2025 will reshape how taxpayers file their returns. While ITR-1 to ITR-7 remain, the draft

Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/tenant-paid-rs-6-5-lakh-to-buy-landladys-property-sc-admits-sale-agreement-as-evidence-and-says-possession-doesnt-finalise-sale-without-a-sale-deed/articleshow/127990042.cms On January 15, 2026, the Supreme Court clarified that just because a tenant has been living on a landlady’s property for a long time, it does not

Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-department-releases-draft-income-tax-rules-2026-check-key-features-and-implementation-date/articleshow/128033072.cms Listen to this article in summarized format The Income Tax Department has released the draft Income-tax Rules, 2026. These draft rules are proposed to come into

Clipped from: https://economictimes.indiatimes.com/wealth/tax/tax-department-releases-draft-income-tax-rules-2026-rule-57-of-draft-rules-tell-how-fair-market-value-of-assets-like-jewellery-property-is-determined-for-taxation-purposes/articleshow/128033625.cms ET OnlineTax department releases draft Income Tax Rules, 2026; Know more(AI generated representative image) The Income Tax Department has announced the release of the draft

Clipped from: https://taxguru.in/corporate-law/belated-society-membership-dispute-supreme-court-balances-statutory-rights-equity.html Shashin Patel And Anr Vs Uday Dalal And Ors (Supreme Court of India) Appellants’ case:4 The appellants (legal heirs of the original tenant

Clipped from: https://www.taxscan.in/top-stories/lack-of-familiarity-with-income-tax-e-filing-portal-itat-condones-66-days-delay-restores-trust-registration-1442759?TRN300=seBwjqsDCAuMBvFaFYxMskwWACJuwDMkvfAfYhMhwjXMeuFSiMskjIDRBMSASx&LKD333=3404341 ITAT allowed appeal for statistical purposes. The assessee trust was new to income tax litigation and online portal e-filing. The Income Tax Appellate

Clipped from: https://www.taxscan.in/top-stories/gst-portal-merges-additional-notices-orders-with-notices-orders-tab-to-reduce-oversight-1442748?TRN300=seBwjqsDCAuMBvFaFYxMskwWACJuwDMkvfAfYhMhwjXMeuFSiMskjIDRBMSASx&LKD333=3404323 GST portal has merged the “Additional Notices and Orders” tab with “Notices and Orders” to avoid taxpayers missing notices The GST Network recently

Clipped from: https://www.taxscan.in/top-stories/next-wave-of-gst-notices-likely-section-74a-vs-s-73-s-74-set-to-trigger-fresh-litigation-battles-1442746?TRN300=seBwjqsDCAuMBvFaFYxMskwWACJuwDMkvfAfYhMhwjXMeuFSiMskjIDRBMSASx&LKD333=3404303 Section 74A is the consolidated provision merging Section 73 and 74. This applies from Financial 2024-25 intending to create a single framework for

Clipped from: https://www.taxscan.in/top-stories/wife-sells-two-gifted-flats-for-6-crore-and-pays-no-income-tax-heres-how-1428872?TRN300=seBwjqsDCAuMBvFaFYxMskwWACJuwDMkvfAfYhMhwjXMeuFSiMskjIDRBMSASx&LKD333=3404310 A Mumbai woman sells two gifted flats for Rs. 6 crore, reinvests the proceeds in another home, and legally avoids paying any tax

Clipped from: https://www.taxscan.in/top-stories/pre-consultative-process-under-central-excise-act-is-mandatory-except-in-cases-of-intention-to-evade-tax-madras-hc-1440722?TRN300=seBwjqsDCAuMBvFaFYxMskwWACJuwDMkvfAfYhMhwjXMeuFSiMskjIDRBMSASx&LKD333=3404344 The department cannot unilaterally assume that pre-consultation is not necessary. Unless and until the fraud and intention to evade is not proven beyond

Clipped from: https://www.taxscan.in/top-stories/accountant-fails-to-submit-gst-returns-for-6-months-madras-hc-orders-gstn-to-take-necessary-actions-for-filing-returns-1440217?TRN300=seBwjqsDCAuMBvFaFYxMskwWACJuwDMkvfAfYhMhwjXMeuFSiMskjIDRBMSASx&LKD333=3404335 The Court directed the tax authorities to instruct GSTN, New Delhi, to make suitable changes in the GST portal architecture so as to

Clipped from: https://taxguru.in/income-tax/section-54ec-law-amendments-judicial-view-practical-application.html Section 54EC of the Income-tax Act, 1961 – Scope, Impact, Amendments & Judicial Interpretation (2026 Edition) 1. Introduction Section 54EC is one of