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Income Tax Rules

Rule NoHeading
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 399 items in 8 pages
1Short title and commencement
2Definitions
2ALimits for the purposes of section 10(13A)
2BConditions for the purpose of section 10(5)
2BAGuidelines for the purposes of section 10(10C)
2BBPrescribed allowances for the purposes of clause (14) of section 10
2BBACircumstances and conditions for the purposes of clause (19) of section 10
2BCAmount of annual receipts for the purposes of sub-clauses (iiiad) and (iiiae) of clause (23C) of section 10
2CGuidelines for approval under sub-clauses (iv) and (v) of clause (23C) of section 10
2CAGuidelines for approval under sub-clauses (vi) and (via) of clause (23C) of section 10
2DGuidelines for approval under clause (23F) of section 10
2DAGuidelines for approval under clause (23FA) of section 10
2EGuidelines for approval under clause (23G) of section 10
2FGuidelines for setting up an Infrastructure Debt Fund for the purpose of exemption under clause (47) of section 10
3Valuation of perquisites
3AExemption of medical benefits from perquisite value in respect of medical treatment of prescribed diseases or ailments in hospitals approved by the Chief Commissioner
4Unrealised rent
5Depreciation
5AForm of report by an accountant for claiming deduction under section 32(1)(iia)
5AAPrescribed authority for investment allowance
5ABReport of audit of accounts to be furnished under section 32AB(5)
5ACReport of audit of accounts to be furnished under section 33AB(2)
5ADReport of audit of accounts to be furnished under section 33ABA(2)
5BDevelopment rebate
5CGuidelines, form and manner in respect of approval under clause (ii) and clause (iii) of sub-section (1) of section 35
5DConditions subject to which approval is to be granted to a research association under clause (ii) or clause (iii) of sub-section (1) of section 35
5EConditions subject to which approval is to be granted to a University, College or other Institution under clause (ii) and clause (iii) of sub-section (1) of section 35
5FPrescribed authority, guidelines, form, manner and conditions for approval under clause (iia) of sub-section (1) of section 35
6Prescribed authority15 for expenditure on scientific research
6APrescribed authority, services, etc., for agricultural development allowance
6AAPrescribed activities for export markets development allowance
6AAAPrescribed authority for the purposes of sections 35CC39 and 35CCA
6AABStatement of expenditure for claiming deduction under section 35CC
6AACPrescribed authority for the purposes of section 35CCB
6AADGuidelines for approval of agricultural extension project under section 35CCC
6AAEConditions subject to which an agricultural extension project is to be notified under section 35CCC
6AAFGuidelines for approval of skill development project under section 35CCD
6AAGConditions subject to which a skill development project is to be notified under section 35CCD
6AAHMeaning of expressions used in rule 6AAF and rule 6AAG
6ABForm of audit report for claiming deductions under sections 35D and 35E
6ABAComputation of aggregate average advances for the purposes of clause (viia) of sub-section (1) of section 36
6ABAAInfrastructure facility under clause (d) of the Explanation to clause (viii) of sub-section (1) of section 36
6ABBForm of report for claiming deduction under clause (xi) of sub-section (1) of section 36
6ACLimits and conditions for allowance of expenditure in certain cases
6BExpenditure on advertisement
6CExpenditure on residential accommodation including guest houses
6DExpenditure in connection with travelling, etc
6DDCases and circumstances in which a payment or aggregate of payments exceeding twenty thousand rupees may be made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft
6DDAConditions that a stock exchange is required to fulfil to be notified as a recognised stock exchange for the purposes of clause (d) of proviso to clause (5) of section 43
6DDBNotification of a recognised stock exchange for the purposes of clause (d) of proviso to clause (5) of section 43

News Section

News

20 Mar 26
Net Direct Tax Collections Rise 7.19% to Rs 22.8 Lakh Crore in FY26
Finance Ministry Revises Monetary Threshold in FEMA Enforcement Cases: Key Changes Notified
Gujarat HC: GST ITC as a Transferable Business Asset Can’t Be Denied Due to State-Wise Registrations
GST Advisory 653: Confirmation of “Tax Liability Breakup, As Applicable” in GSTR-3B
Bajaj Electricals Limited Discloses ?3.62 Crore GST Demand Upheld in Adverse Appeal Order
Delhi HC Allows Consolidation of GST SCNs Covering Multiple FY U/S 73 & 74
19 Mar 26
CBDT Corrects Income Tax Amendment Rules 2026 Name via Corrigendum
RBI Launches DLA Directory, Tightens Norms Against Illegal Loan Apps
Major GST Reform: Goa Holds Property Owners Accountable for Event Taxes
Return Preparation & File Validation Utility vs TDS Software
CBDT Renames IT Amendment Rules, 2026 as IT (First Amendment) Rules, 2026
18 Mar 26
GSTAT Instructions (F. No. 125/2025-26): GST Appeals and Required Documents on the Portal
Gauhati HC: Form GST DRC-01 Is Supplementary and Can’t Substitute Issuance U/S 73(1)
How ROC Software Manages AGM, EGM and Board Meetings
Supreme Court: Clerical Mistakes in GST Returns Not a Valid Reason to Deny Export Refunds
MP Raghav Chadha Suggests Joint ITR Filing Option for Married Couples in Parliament
17 Mar 26
Maharashtra Allows PAN-Based Profession Tax Payment Amid MahaGST Portal Issues
GST Portal Requires Confirmation of "Tax Liability Breakup" in GSTR-3B from Feb 2026
MH Tax Department Grants Relief on PT Registration and Filing Due to GST Portal Glitches
IT Dept Asks Taxpayers to Ignore Erroneous Emails on ‘Significant Transactions’ and Advance Tax
Bengaluru GST Dept Warns About Fake Tax Officials Through Trade Notice 02/2026
16 Mar 26
GSTN Issues Advisory on Pre-Deposit Payment While Filing Appeals Before First Appellate Authority
Income Tax Department Clarifies `Significant Transactions` Emails Sent During Advance Tax e-Campaign for AY 2026-27
Centre Renames Personal Income Tax as Non-Corporate Tax from FY 2025-26
15 Mar 26
ROC Bangalore Imposes Penalty on Indo-MIM Limited, Directors for Absence of Resident Director
Gujarat AAR Holds Advance Received by Assessee as ‘Consideration’ Under GST
How Balance Sheet Software Works with Trial Group Master
14 Mar 26
Gujarat AAR Holds Advance Received by Assessee as ‘Consideration’ Under GST
WB AAR: GST Exemption Allowed on Waste Transport Services Provided to Municipal Corporation as Pure Services
Karnataka HC: Solar Inverters Eligible for 5% Concessional GST, Quashes ?120 Cr Tax Demand
12 Mar 26
Govt Raises Collateral-Free Farm Loan Limit to Rs 2 Lakh to Boost Agricultural Credit
E-Way Bill Generation Rises 18.8% YoY to 132.6 Million in February 2026
Madras HC Permits to File a Fresh Appeal as GST SCN Was Uploaded Only on Portal
Businesses Face GST Registration Suspension After Welcome Kit Delivery Failure
Gauhati HC Allows Restoration of Cancelled GST Registration After Delay Due to Medical Emergency
11 Mar 26
ICAI Releases Handbook on Key Compliances and Exemptions for Private Limited Companies
Bombay HC Cancels GST DGGI Seizure, Orders ?1 Cr Cash Refund
How TDS Software Merges Duplicate Deductee Master Data
Bombay HC Quashes GST Bank Account Attachment Orders Under MGST Act for Lack of Proper Reasons
09 Mar 26
CIC Asks Income Tax Department to Fix TDS Mismatch Process, Protect Honest Taxpayers
Income Tax Rules 2026: Financial Institutions Must Report Crypto and Digital Currency Holdings
08 Mar 26
Finance Ministry Appoints Ms. Krati Nigam as CGST Joint Commissioner in GST Authority Amendment
CIC Asks Income Tax Department to Fix TDS Mismatch Process, Protect Honest Taxpayers
Allahabad HC Examines Criminal Proceedings Over Cash Transactions Exceeding ?2 Lakh U/S 269ST
07 Mar 26
Chhattisgarh HC Rejects Writ Petition Seeking Refund of Plot Allotment Money After GST Demand
Big Relief to Dell India: Allahabad HC Stays ?13 Cr GST Demand Order Over Jurisdictional Error
Allahabad HC Quashes ?1.02 Crore GST Demand; Interest Not Quantified in SCN Cannot Be Levied Later
06 Mar 26
Delhi (PB) GSTAT Dismisses GST Profiteering Case After ITC Benefit Found to Be Nil
Bombay HC Sets Aside GST SCN U/S 74 for Clubbing Multiple FY in a Single Notice
05 Mar 26
New Draft Format for TDS/TCS Book Adjustment: Full Details, Applicability & Compliance Guide
Madras HC Quashes GST Cancellation for 6-Month Non-Filing, Cites Health and Financial Hardship
Ahmedabad ITAT Sets Aside Sec 271(1)(c) Penalty on Axis Bank Over Bona Fide Accounting Method
ROC Gwalior Imposes ?1.76 Lakh Penalty on Company and Directors for Non-Filing u/s 137

Due Date Reminder

Jan Feb Mar Apr May June
July Aug Sep Oct Nov Dec
All
25 Mar 26 Deposit of GST of February under QRMP scheme.
28 Mar 26 Return by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them, for February .
30 Mar 26 Deposit of TDS on payment made for purchase of property in February.
30 Mar 26 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 25-26 where lease has terminated in February (Else TDS is to be deposited on annual basis by 30 April of next year.)
30 Mar 26 Deposit of TDS u/s 194M for February.
30 Mar 26 Deposit of TDS on Virtual Digital Assets u/s 194S for February.
31 Mar 26 Complete CPE Hours for Calendar year 2025. Update Unstructured CPE hours details like reading of ICAI journal at https://cpeapp.icai.org.
31 Mar 26 Opt for Composition scheme for FY 2026-27. Existing ones are not required to apply again.
31 Mar 26 Online Application for Letter of Undertaking (LUT) for Exports & Supplies to SEZ without payment of tax in FY 2026-27.
31 Mar 26 For FY 26-27, GTA can change from Forward Charge mechanism to RCM or vice-versa by e-filing necessary declaration.
31 Mar 26 Calculation of Aggregate Turnover of F.Y. 25-26 for various compliances related to F.Y. 26-27 like for QRMP scheme, Composition scheme, E-invoice applicability etc.
31 Mar 26 Payment of balance Advance Income Tax by ALL to save interest u/s 234B.
31 Mar 26 Payment of life insurance premium, deposit of PPF etc. for saving tax of FY 25-26 under old regime.
31 Mar 26 Uploading of Statement of foreign income offered to tax and tax deducted or paid on such income in previous year 2024-25, to claim foreign tax credit if ITR furnished within the time specified under section 139(1) or section 139(4).
31 Mar 26 Pay Outstanding dues of Micro & Small Enterprises of FY 25-26 to avoid disallowance u/s 43B. No Relief of payment till due date of ITR.
31 Mar 26 Updated ITR for AY 2023-24 with 50% of aggregate tax and interest payable.
31 Mar 26 Updated ITR for AY 2024-25 with 25% of aggregate tax and interest payable.
31 Mar 26 "File Correction statements of FY 2018-19: Quarter 4 only, FY 2019-20 to FY 2022-23: All quarters and FY 2023-24: Quarters 1 to 3."
31 Mar 26 Complete CPE Hours for Calendar year 2025. Update Unstructured CPE hours details like reading of ICAI journal at https://cpeapp.icai.org.
31 Mar 26 Quarter 4 – Board Meeting of All Companies
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