From 1 April 2026, the Income-tax Act 2025 will replace the Income-tax Act 1961, introducing a unified Tax Year, revised return deadlines, extended revised-return timelines, changes in STT and TCS rates, updated buyback taxation, and new rules for perquisites and interest deductions.
The Karnataka High Court ruled in Huawei Technologies India Private Limited vs. State of Karnataka that salaries paid to expatriate employees are not liable to IGST under reverse charge when a genuine employer-employee relationship exists, rejecting the revenue’s manpower supply service classification claim.