Judgement

CBDT’s challenge fails as Supreme Court refuses to interfere with Telangana High Court ruling on tax exemption framework

Supreme Court Upholds HC Direction to Notify State Pollution Control Boards for Income Tax Exemption

News

Government proposes major revisions in the Draft Income Tax Rules, 2026 to update the tax valuation of employee perks like company cars, meals, and employer gifts in line with current costs.

Govt Proposes Major Changes in Employee Perquisites Valuation under Draft Income Tax Rules, 2026

Court disposes batch of SLPs arising from Punjab & Haryana HC rulings quashing Section 148 notices issued outside faceless regime

SC Allows Revenue to Seek Review Before HC on Faceless Reassessment Notices Issued by JAO

Govt. proposes to expand the 50% HRA exemption list to four more cities under the old tax regime to reflect rising urban housing costs and provide greater relief to salaried employees.

Income Tax HRA Exemption: Government expands Number of cities for 50% Deduction

Articles

One of the major changes proposed is the renumbering of income tax forms which all taxpayers must be aware of.

Draft Income Tax Rules 2026: What are Major Income Tax Forms Renumbered as per new Act

ITAT allowed deduction of Rs. 50.91 lakh interest expense under Section 57 after finding a clear link between the borrowed funds and the interest income earned.

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Supreme Court Upholds HC Direction to Notify State Pollution Control Boards for Income Tax Exemption

Govt Proposes Major Changes in Employee Perquisites Valuation under Draft Income Tax Rules, 2026

SC Allows Revenue to Seek Review Before HC on Faceless Reassessment Notices Issued by JAO

Income Tax HRA Exemption: Government expands Number of cities for 50% Deduction

Draft Income Tax Rules 2026: What are Major Income Tax Forms Renumbered as per new Act

Interest Expenditure Allowable u/s 57 Against Income from Other Sources