#Income Tax Rules 2026

Form 125 Explained: How Specified Senior Citizens Skip ITR Filing Entirely Under the Income-tax Act, 2025

Deepak Jain · 3d

Income Tax

Form 125 under the Income-tax Act, 2025 replaces Form 12BBA. Resident senior citizens 75+ with only pension and interest from the same specified bank can skip ITR — the bank computes income, applies the Section 87A rebate, and deducts TDS under Section 393(1) Sl. No. 8(iii).

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Form No. 101 Decoded: The New Inventory Valuation Report Every CA Must Know Under Income-tax Rules, 2026

Priya Sharma · 3d

Income Tax

Form 101 under Rule 171(2) of the Income-tax Rules, 2026 replaces Form 6D — an AO-triggered Cost Accountant inventory valuation under Section 268(5)(ii) of the Income-tax Act, 2025. Six-month clock, structured schedules, and direct exposure for manufacturing, real estate and trading clients.

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CBDT Issues Major Corrigendum to Income-tax Rules 2026 – 76 Corrections You Should Know

Nisha Agarwal · Apr 19

Income Tax

The Central Board of Direct Taxes (CBDT) has issued a corrigendum on 16 April 2026 correcting multiple errors in the newly notified Income-tax Rules, 2026. These corrections include wrong section references, numbering mistakes, drafting errors, and form-related inconsistencies.

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Meal Vouchers Just Got 4x Better: Rs 200 per Meal Tax-Free Under Income-tax Rules 2026

Sanjay Patel · Apr 9

Income Tax

The Income-tax Rules, 2026 raise the tax-free meal voucher ceiling from Rs 50 to Rs 200 per meal, expected under both old and new regimes from 1 April 2026. Two meals over 22 working days is roughly Rs 1.05 lakh a year, with conditions, payroll restructuring, and common errors.

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Children's Education Allowance Jumps 30x: What the New Income-tax Rules, 2026 Actually Change for Salaried Parents

Karan Malhotra · Mar 24

Income Tax

The Children's Education Allowance exemption, frozen at Rs 100/month per child for two decades, is raised to Rs 3,000/month (max two children) under the Income-tax Rules, 2026 from 1 April 2026. A 30x jump lifting the annual cap from Rs 2,400 to Rs 72,000 for a two-child household.

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Company Car Just Got Expensive: Rule 15 of the Income-tax Rules, 2026 Quietly Triples the Perquisite Value

Sanjay Patel · Feb 10

Income Tax

Draft Rule 15 of the Income-tax Rules, 2026 raises the monthly car perquisite from Rs 1,800 to Rs 5,000 (up to 1.6 litre) and Rs 2,400 to Rs 7,000 (above 1.6 litre), with the driver component going from Rs 900 to Rs 3,000. Practitioner view of the math, EV uncertainty, and April payroll actions.

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#Income Tax Rules 2026

Form 125 Explained: How Specified Senior Citizens Skip ITR Filing Entirely Under the Income-tax Act, 2025

Form No. 101 Decoded: The New Inventory Valuation Report Every CA Must Know Under Income-tax Rules, 2026

CBDT Issues Major Corrigendum to Income-tax Rules 2026 – 76 Corrections You Should Know

Meal Vouchers Just Got 4x Better: Rs 200 per Meal Tax-Free Under Income-tax Rules 2026

Children's Education Allowance Jumps 30x: What the New Income-tax Rules, 2026 Actually Change for Salaried Parents

Company Car Just Got Expensive: Rule 15 of the Income-tax Rules, 2026 Quietly Triples the Perquisite Value

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