{"id":376524,"date":"2026-02-23T18:30:02","date_gmt":"2026-02-23T13:00:02","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=376524"},"modified":"2026-02-23T18:28:50","modified_gmt":"2026-02-23T12:58:50","slug":"draft-income-tax-rules-2026-key-changes-allowances","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/","title":{"rendered":"Draft Income-tax Rules 2026: Key Changes, Higher Allowances & Simplified Compliance Framework"},"content":{"rendered":"
\n

Recently, the Central Board of Direct Taxes<\/span> published the Draft Income-tax Rules, 2026 to repeal the almost 6 decades old Income-tax Rules, 1962.<\/span> The provisions will come into effect on 1-4-2026.<\/p>\n

Earlier, on 8-2-2026, the Central Board of Direct Taxes issued a Press Release seeking the feedback of the stakeholders on the proposed Income-tax Rules and Forms relating to Income-tax Act, 2025 to encourage wider stakeholders’ participation.<\/p>\n

The Income tax Department invited inputs and suggestions from stakeholders in the following 4 categories:<\/p>\n

    \n
  1. \n

    Simplification of language;<\/p>\n<\/li>\n

  2. \n

    Reduction of Litigation;<\/p>\n<\/li>\n

  3. \n

    Reduction of Compliance Burden;<\/p>\n<\/li>\n

  4. \n

    Identification of Redundant\/ Obsolete Rules and Forms.<\/p>\n<\/li>\n<\/ol>\n

    To facilitate this, a utility was launched on the e-filing portal, accessible through this link: https:\/\/eportal.incometax.gov.in\/iec\/foservices\/#\/pre-login\/ita-comprehensive-review.<\/a><\/p>\n

    Framework:<\/h3>\n
      \n
    1. \n

      These Rules will come under the ambit of the Income- tax Act, 2025.<\/p>\n<\/li>\n

    2. \n

      The new Rules have been simplified as compared to Income-tax Rules, 1962.<\/p>\n<\/li>\n

    3. \n

      They have been consolidated into 333 Rules and 190 Forms.<\/p>\n

      Earlier, the number of Rules were more than 500 and over 350 Forms.<\/p>\n<\/li>\n<\/ol>\n

      Major changes introduced vide Draft Income-tax Rules, 2026 relating to extent to which allowance will be exempted:<\/p>\n

        \n
      1. \n

        Children Education Allowance<\/span> to be increased to Rs. 3,000 per month per child up to maximum of 2 children.<\/p>\n<\/li>\n

      2. \n

        Hostel Expenditure Allowance<\/span> to be increased to Rs. 9,000 per month per child up to maximum of 2 children.<\/p>\n<\/li>\n

      3. \n

        Counter- insurgency allowance<\/span> granted to the members of armed forces operating in areas away from their permanent locations to be increased to Rs. 22,000 per month.<\/p>\n<\/li>\n

      4. \n

        Transport allowance granted to employees having a disability<\/span> to be increased to Rs. 15,000 in metro cities and Rs. 8,000 in other cities.<\/p>\n<\/li>\n

      5. \n

        Underground allowance granted to employees working in uncongenial, unnatural climate in underground mines<\/span> to be increased to 15% of Basic Pay.<\/p>\n<\/li>\n

      6. \n

        Allowance granted to members of the armed forces in special compensatory highly active field area<\/span> to be increased to Rs. 22,000 per month.<\/p>\n<\/li>\n

      7. \n

        Siachen allowance granted to the members of armed forces<\/span> to be increased to Rs. 42,500 per month.<\/p>\n<\/li>\n

      8. \n

        Meal perquisite limit<\/span> to be increased to Rs. 200 per meal.<\/p>\n<\/li>\n

      9. \n

        House rent allowance:<\/span> 50% exemption allowed in Hyderabad, Bengaluru, Pune, and Ahmedabad. Earlier, this exemption was limited to Mumbai, Delhi, Chennai, and Kolkata.<\/p>\n<\/li>\n<\/ol>\n

        Other Benefits:<\/h3>\n
          \n
        1. \n

          The value of Gift\/ Voucher\/ Token received by employee\/ member of his household from the employer<\/span> will be exempted if the value is less than Rs. 15,000.<\/p>\n<\/li>\n

        2. \n

          Interest-free or concessional loans provided by the employer<\/span> on which no value will be charged:<\/p>\n

            \n
          • \n

            if the loans have been taken for medical treatments;<\/p>\n<\/li>\n

          • \n

            where the amount of loan is not more than Rs. 2,00,000.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

          • \n

            While making payment to hotel or restaurant<\/span>, one will have to quote the Permanent Account Number for the transactions exceeding the amount of Rs. 1,00,000. These draft rules have expanded the scope and included convention centres, banquet halls and event management service providers.<\/p>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

            The draft rules aim to reduce litigation, ease compliance, and eliminate obsolete provisions, while enhancing several employee allowances and exemptions. Key updates include higher limits for education, hostel, disability, armed forces allowances, expanded HRA coverage, and revised perquisite and reporting requirements.<\/p>\n","protected":false},"author":67515,"featured_media":376525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[99346,99350,99353,99348,99349,99352,87817,99345,99355,99347,99351,99354],"class_list":["post-376524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-cbdt-draft-rules","tag-cbdt-press-release","tag-draft-tax-rules-consultation","tag-employee-allowances-exemption","tag-hra-exemption-rules","tag-income-tax-department-india","tag-income-tax-act-2025","tag-income-tax-rules-2026","tag-revised-perquisites-rules","tag-tax-allowances-update","tag-tax-compliance-simplification","tag-tax-law-updates-2026"],"yoast_head":"\nDraft Income-tax Rules 2026 | SCC Times<\/title>\n<meta name=\"description\" content=\"CBDT Draft Income-tax Rules 2026 simplify compliance and raise key exemptions, including higher education, hostel, disability, and armed forces allowances, HRA benefits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Draft Income-tax Rules 2026: Key Changes, Higher Allowances & Simplified Compliance Framework\" \/>\n<meta property=\"og:description\" content=\"CBDT Draft Income-tax Rules 2026 simplify compliance and raise key exemptions, including higher education, hostel, disability, and armed forces allowances, HRA benefits.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-23T13:00:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"886\" \/>\n\t<meta property=\"og:image:height\" content=\"590\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kriti\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Draft Income-tax Rules 2026: Key Changes, Higher Allowances & Simplified Compliance Framework\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kriti\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/\",\"name\":\"Draft Income-tax Rules 2026 | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.webp\",\"datePublished\":\"2026-02-23T13:00:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd\"},\"description\":\"CBDT Draft Income-tax Rules 2026 simplify compliance and raise key exemptions, including higher education, hostel, disability, and armed forces allowances, HRA benefits.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.webp\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.webp\",\"width\":886,\"height\":590,\"caption\":\"CBDT Income-tax Rules 2026\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Draft Income-tax Rules 2026: Key Changes, Higher Allowances & Simplified Compliance Framework\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd\",\"name\":\"Kriti\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g\",\"caption\":\"Kriti\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/scc_8\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Draft Income-tax Rules 2026 | SCC Times","description":"CBDT Draft Income-tax Rules 2026 simplify compliance and raise key exemptions, including higher education, hostel, disability, and armed forces allowances, HRA benefits.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/","og_locale":"en_US","og_type":"article","og_title":"Draft Income-tax Rules 2026: Key Changes, Higher Allowances & Simplified Compliance Framework","og_description":"CBDT Draft Income-tax Rules 2026 simplify compliance and raise key exemptions, including higher education, hostel, disability, and armed forces allowances, HRA benefits.","og_url":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2026-02-23T13:00:02+00:00","og_image":[{"width":886,"height":590,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.jpg","type":"image\/jpeg"}],"author":"Kriti","twitter_card":"summary_large_image","twitter_title":"Draft Income-tax Rules 2026: Key Changes, Higher Allowances & Simplified Compliance Framework","twitter_misc":{"Written by":"Kriti","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/","url":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/","name":"Draft Income-tax Rules 2026 | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.webp","datePublished":"2026-02-23T13:00:02+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd"},"description":"CBDT Draft Income-tax Rules 2026 simplify compliance and raise key exemptions, including higher education, hostel, disability, and armed forces allowances, HRA benefits.","breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.webp","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.webp","width":886,"height":590,"caption":"CBDT Income-tax Rules 2026"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2026\/02\/23\/draft-income-tax-rules-2026-key-changes-allowances\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Draft Income-tax Rules 2026: Key Changes, Higher Allowances & Simplified Compliance Framework"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd","name":"Kriti","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g","caption":"Kriti"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/scc_8\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/02\/CBDT-Income-tax-Rules-2026.webp","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":254136,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/13\/cbdt-amends-income-tax-rules-1962-easing-the-authentication-of-e-records-submitted-in-faceless-assessment-proceedings\/","url_meta":{"origin":376524,"position":0},"title":"CBDT amends Income tax Rules, 1962 easing the authentication of e-records submitted in faceless assessment proceedings","author":"Prachi Bhardwaj","date":"September 13, 2021","format":false,"excerpt":"The Central Board of Direct Taxes has issued a press release dated September 7,2021 amending Income tax Rules, 1962, which prescribe those electronic records submitted through taxpayers\u2019 registered accounts in the I-T Department\u2019s portal will be deemed to have been authenticated by the taxpayer using an electronic verification code (EVC).\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":380009,"url":"https:\/\/www.scconline.com\/blog\/post\/2026\/04\/02\/cbdt-notified-income-tax-amendment-rules-2026\/","url_meta":{"origin":376524,"position":1},"title":"CBDT Notifies GAAR Clarifications Under Income-tax (Amendment) Rules, 2026","author":"Shubhi","date":"April 2, 2026","format":false,"excerpt":"Finance Ministry has notified the Income-tax (Amendment) Rules, 2026, clarifying GAAR exclusion for pre-April 2017 investments.","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Income-tax (Amendment) Rules","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/04\/Income-tax-Amendment-Rules.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/04\/Income-tax-Amendment-Rules.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/04\/Income-tax-Amendment-Rules.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/04\/Income-tax-Amendment-Rules.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":254139,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/14\/income-tax-29th-amendment-rules-2021\/","url_meta":{"origin":376524,"position":2},"title":"Income-tax (29th Amendment) Rules, 2021","author":"Bhumika Indulia","date":"September 14, 2021","format":false,"excerpt":"On September 13, 2021, the Central Board of Direct Taxes notifies Income-tax (29th Amendment) Rules, 2021 to amend Income-tax Rules, 1962. The Amendment inserts a provision prescribing income- tax authority under second proviso to clause (i) of sub-section (1) of section 142. \u00a0 The Rule provides: 12F. Prescribed income- tax\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":258413,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/12\/13\/cbdt-notifies-conditions-for-exemption-of-income-accrued-by-non-resident-as-a-result-of-transfer-of-non-deliverable-forward-contracts-vide-income-tax-33rd-amendment-rules-2021\/","url_meta":{"origin":376524,"position":3},"title":"CBDT notifies conditions for exemption of income accrued by non-resident as a result of transfer of non-deliverable forward contracts vide Income-tax (33rd Amendment) Rules, 2021","author":"Bhumika Indulia","date":"December 13, 2021","format":false,"excerpt":"The Central Board of Direct taxes notified Income-tax (33rd Amendment) Rules, 2021 further to amend the Income-tax Rules,1962. \u00a0 Key features: In the Income-tax Rules, 1962, the following rule shall be inserted, namely:\u2014 \u201c21AK. Conditions for the purpose of clause (4E) of section 10: (1) The income accrued or arisen\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":120331,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/04\/08\/cbdt-extends-time-to-submit-panform-no-60-to-banks\/","url_meta":{"origin":376524,"position":4},"title":"CBDT extends time to submit PAN\/Form No. 60 to banks","author":"Saba","date":"April 8, 2017","format":false,"excerpt":"G.S.R. 331(E).\u2014In\u00a0exercise of the powers conferred by Section 139A and Section 285BA, read with Section 295 of the Income Tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income Tax Rules, 1962, namely: 1. (1) These rules may\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102461,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/01\/30\/clarifications-on-implementation-of-gaar-provisions-under-income-tax-act-1961\/","url_meta":{"origin":376524,"position":5},"title":"Clarifications on implementation of GAAR provisions under Income Tax Act, 1961","author":"Saba","date":"January 30, 2017","format":false,"excerpt":"The\u00a0General Anti Avoidance Rule (GAAR)\u00a0provisions shall be effective from the Assessment Year 2018-19 onwards, i.e. Financial Year 2017-18 onwards.\u00a0 The necessary procedures for application of GAAR and conditions under which it shall not apply, have been enumerated in Rules 10U to 10UC of the Income Tax Rules, 1962. The provisions\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/376524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67515"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=376524"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/376524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/376525"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=376524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=376524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=376524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}