Non Resident Frequently asked questions 1. Has the basic test of residence for individuals changed under the Income Tax Act, 2025? Ans. No change has been made in the basic conditions for determining individual residency. Under section 6 of the Income Tax Act, 2025, an individual continues to be treated as tax -resident if he… Read More »
Set off/Carry forward of Losses Frequently asked questions 1. Can losses computed under the Income Tax Act, 1961 be carried forward under the Income Tax Act, 2025? Ans. Yes. The position is expressly clarified under the repeal and saving clause contained in section 536 of the Income Tax Act, 2025. Clauses (m) and (n) of… Read More »
Appeals and Revisions Frequently asked questions 1. What are the key provisions contained in the Chapter on Appeals, Revision and Dispute Resolution Committee (DRC) under the Income Tax Act, 2025? Ans. The Chapter on Appeals, Revision and Alternate Dispute Resolution under the Income Tax Act, 2025 comprehensively consolidates the entire remedial framework of the Act.… Read More »
TDS Compliance Frequently asked questions 1. What is the fundamental rule for determining which Act governs TDS obligations during the transition? The Act governing TDS depends on when the “earlier of the event of credit or payment” occurs. If the earlier event occurs on or before 31st March, 2026, the Income tax Act, 1961 will… Read More »
Reassessment Proceedings Frequently asked questions 1. Briefly explain the procedure for issuing reopening notice under the Income Tax Act, 2025. Ans. The procedure for issuing a notice under section 280 of the Income Tax Act, 2025, where income has escaped assessment for the relevant tax year is briefed as under : i) Information – The… Read More »
Income Tax Forms Frequently asked questions 1. I want to apply for a new Permanent Account Number after 1st April, 2026.Which form should I use? Ans. The applications for allotment of a new permanent account Number on or after 01.04.2026 should be filed in the new Forms as prescribed under Income Tax Rules, 2026. 2.… Read More »
HOW TO DOWNLOAD TDS CHALLAN ON PURCHASE OF PROPERTY NEW INCOME TAX RULES 2026 Related post download tds on property challan, download tds on property challan pdf, download tds on property challan online, how to download tds paid challan from income tax portal, tds challan download, 141 challan download, tds challan download pdf, tds on… Read More »
Income Tax Returns Frequently asked questions 1. What are the key provisions relating to filing of return of income under the Income Tax Act, 2025? Ans. The provisions relating to filing of return of income are contained in Section 263 of the Income Tax Act, 2025. Section 263 contains the provisions for original return (sub-section… Read More »
Tax Payments Frequently asked questions 1. Does the fundamental obligation to discharge Income tax through TDS /TCS ,advance tax, or self-assessment tax continue under the Income Tax Act, 2025? Ans. Yes. The core obligation to pay Income tax—whether by way of tax deducted or collected at source (TDS /TCS ), advance tax, self -assessment tax,… Read More »
Objective and scope of the New Act Frequently asked questions 1. What is the primary objective of replacing the Income Tax Act, 1961 with the Income Tax Act, 2025? Ans. The Income Tax Act, 2025 has been enacted to provide a streamlined, simplified, and modern tax code with reduced compliance burden, consolidated provisions, and clear… Read More »