Author: Vinod Arora
Clause 27 of Finance Bill 2026 refines the dividend definition by tightening conditions for inter-group loans involving IFSC finance units and notified foreign jurisdictions.
Clause 50 of Finance Bill 2026 restructures MAT by making it a final tax in the old regime, reducing the rate to 14%, and restricting MAT credit set-off in …
Clause 73 of Finance Bill 2026 rationalises TCS rates under section 394 by introducing a largely uniform 2% rate and reducing high TCS on LRS remittances and overseas tours.
Finance Bill 2026 clarifies that reassessment notices under sections 148 and 148A must be issued by jurisdictional Assessing Officers, not faceless assessment units.
Finance Bill 2026 clarifies that income-tax assessments will not be invalid merely due to technical mistakes in quoting the Document Identification Number (DIN).
Finance Bill 2026 clarifies how DRP timelines under section 144C operate vis-à-vis assessment limits and aligns the framework under the Income-tax Acts of 1961 and 2025.
Clauses 4 and 44 of Finance Bill 2026 clarify how the 60-day time limit for Transfer Pricing Officer orders is computed under the Income-tax Acts of 1961 and 2025.
Clauses 52 to 55 of the Finance Bill 2026 amends tonnage tax provisions to align them with the Inland Vessels Act, 2021 and the Inland Waterways Authority of India.
Clause 87 of Finance Bill 2026 substitutes section 446 to impose penalties for non-furnishing or inaccurate reporting of crypto-asset transactions under section 509.
Clause 33 of Finance Bill 2026 defines “commodity derivative” in section 66 of the Income-tax Act, 2025, aligning it with the Income-tax Act, 1961.