Income Tax
Income-tax, TDS and TCS: rules, circulars, due dates and court rulings.
3stories · Rule change
September 2026
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TDS on property bought from a non-resident: Forms 132 and 141 amended from 1 October 2026
Form 141, Schedule ERule changeThe Income-tax (Fifth Amendment) Rules, 2026 bring the case where a resident individual or HUF deducts tax on buying immovable property from a non-resident into rules 215, 218 and 219, and add a new Schedule E to Form No. 141.
March 2026
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Tax residency certificate: apply in Form No. 42, certificate issued in Form No. 43 under rule 75 of the Income-tax Rules, 2026
Form 42 → Form 43Rule changeRule 75 of the Income-tax Rules, 2026 sets the forms for double taxation relief: a resident applies to the Assessing Officer for a certificate of residence in Form No. 42 and receives it in Form No. 43; a non-resident gives the other information for treaty relief in Form No. 41.
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HRA exemption: Hyderabad, Pune, Ahmedabad and Bengaluru join the 50% list under the Income-tax Rules, 2026
8 cities at 50%Rule changeRule 279 of the Income-tax Rules, 2026, in force from 1 April 2026, lists eight places for the 50%-of-salary limit of the house rent allowance exemption: Mumbai, Kolkata, Delhi, Chennai, Hyderabad, Pune, Ahmedabad and Bengaluru. Every other place stays at 40%.
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