Category: Notifications & Order IT

Income Tax Notifications & Order IT

CBDT FAQ Deep-Dive Series #4: Capital Gains Transition Under Section 536 Sub-Clause 5 of the Income-tax Act 2025 – Sections 45 to 55A of the 1961 Act, Section 47 Exempt Transfers, Section 48 Indexation, Section 49 Cost of Acquisition, Section 54 to 54GB Reinvestment Exemptions, and the Pre-April 2026 / Post-April 2026 Asset Holding Period Cutover for FY 2025-26 Files

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Fourth instalment of the CBDT FAQ deep-dive series on the Income-tax Act 2025 transition. How Section 536 sub-clause 5 preserves Sections 45 to 55A of the 1961 Act capital gains framework for AY 2026-27. Section 47 exempt transfers, Section 49 cost anchoring, Section 54 to 54GB reinvestments locked under 1961 Act conditions across the April 1, 2026 cutover.

Income Tax Notifications & Order IT

FY 2025-26 Tax Audit Practitioner Sprint Under Section 44AB of the 1961 Act and Section 536 Sub-Clause 4 of the Income-tax Act 2025: Form 3CD 41-Clause Hot Spots, Section 43B(h) MSME Disallowance, Section 40(a)(ia) TDS Reconciliation, Section 271B Penalty, and the September 30, 2026 Ten-Step Sprint Plan

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Practitioner advisory on FY 2025-26 tax audit compliance under Section 44AB of the 1961 Act, preserved by Section 536 sub-clause 4 of the Income-tax Act 2025. Form 3CD 41-clause map, applicability thresholds (Rs 1 crore vs Rs 10 crore cash-test proviso, Rs 50 lakh profession), Section 43B(h) MSME interest disallowance, Section 40(a)(ia) TDS-default disallowance, Section 271B penalty grid with Section 273B defence, and a ten-step May-to-September sprint plan.

Income Tax Notifications & Order IT

CBDT FAQ Deep-Dive Series #3: Loss Carry-Forward Continuity Under Section 536 Sub-Clause 5 of the Income-tax Act 2025 – How Section 72 Business Loss, Section 32(2) Unabsorbed Depreciation, Section 115JAA MAT Credit, and Section 115JD AMT Credit Survive the April 1, 2026 Cutover

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Third installment of the CBDT FAQ Deep-Dive Series on the Income-tax Act 2025. Section 536 sub-clause 5 preserves every loss carry-forward and credit carry-forward window: Section 72 business loss (8 AYs), Section 32(2) unabsorbed depreciation (no limit), Section 115JAA MAT credit (15 AYs), Section 115JD AMT credit (15 AYs). Section 79, 80, and 78 forfeiture gates continue to apply. Nine-step file review sprint and five-Q FAQ for practitioner client memos.

Income Tax Notifications & Order IT

ITR Forms AY 2026-27 Practitioner Advisory: Why FY 2025-26 Returns Are Still 1961 Act Returns Under Section 536 of the Income-tax Act 2025, the Seven-Form Map, and the Ten-Step Filing Season Sprint

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ITR forms for AY 2026-27 are 1961 Act forms because Section 536 saves FY 2025-26 income under the earlier statute. Schedule references, Section 115BAC new regime, Schedule CG indexation, Schedule TDS section codes, and filing due dates (July 31, October 31, November 30) all continue under the 1961 Act. Ten-step filing season sprint plus five-Q client FAQ.

Income Tax Notifications & Order IT

CBDT FAQ Deep-Dive Series #2: Section 147-148 Reassessment Continuity Under Section 536 Saving Clause After the Income-tax Act 2025 – How Open Notices, TOLA Cases, Section 151 Sanctions, and ITAT Appeals Survive the April 1, 2026 Cutover

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Section 536 of the Income-tax Act 2025 preserves Sections 147 to 153 of the 1961 Act for every reassessment notice issued before March 31, 2026. Outer time-limit math, Section 151 sanctions, TOLA 2020 cases, and ITAT appeals from reassessment all continue under the 1961 Act. Practitioner sprint: eight-step file review and five-Q FAQ for open Section 148 files.

Income Tax Notifications & Order IT

CBDT FAQ Deep-Dive on Income-tax Act 2025 TDS Transition: Q4 FY 2025-26 Statement Filing Mechanics Under Section 536 Saving Clause Before the May 31, 2026 Deadline

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With the May 31, 2026 Q4 FY 2025-26 TDS statement deadline 19 days away, the CBDT 99-page FAQ TDS chapter resolves which Act governs deductor obligations, Form 16/16A section citations, default penalties under Section 234E/271H, and the Section 536 saving clause that preserves the 1961 Act for the Q4 transition window.

Income Tax Notifications & Order IT

CBDT 99-Page FAQ on Income-tax Act 2025 Transition: How Section 536 Saving Clause Protects Pre-April 1, 2026 Income, Pending Assessments, Loss Carry-Forward, and TDS Compliance

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CBDT releases 99-page FAQ on the Income-tax Act 2025 transition. Section 536 saving clause preserves pre-April 1 2026 income, pending Section 148 reassessment, CIT(A)/ITAT appeals, loss carry-forward, and 80G/12A approvals. 10-step CA compliance checklist.

Income Tax Notifications & Order IT

Section 92CE Secondary Adjustments Under the Income-tax Act 2025: Rs 1 Crore Threshold, 90-Day Repatriation Window, and the 18 Percent Settlement Option

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Section 92CE of the Income-tax Act 2025 requires Indian taxpayers to repatriate excess money from overseas associated enterprises within 90 days of any primary transfer pricing adjustment exceeding Rs 1 crore, failing which deemed interest accrues at SBI 1-year MCLR plus 325 basis points. This advisory covers the Rule 10CB mechanics, Form 3CEB and Form 3CD Clause 30B disclosures, and the 18 percent settlement option for AY 2026-27 compliance.

Income Tax ITAT Notifications & Order IT

CBDT Corrigendum to Income Tax Rules 2026: Notification 64/2026 Fixes 76 Errors and Renames Rules (April 16, 2026)

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CBDT Notification 64/2026 [G.S.R. 286(E)] dated April 16, 2026 rectifies 76 errors in the Income-tax Rules, 2026. Here is what every CA firm must update in templates, cross-references, and transfer pricing working papers before filing season.