Central Bank Digital Currencies Not 'Relevant Crypto-Assets' For CRS Reporting: CBDT

The Central Board of Direct Taxes (CBDT) has amended the Income Tax Rules, 1962, to clarify that Central Bank Digital Currencies (CBDCs) will not fall within the definition of “relevant crypto-assets” for Common Reporting Standard (CRS) framework.The amendment forms part of the Income-tax (Amendment) Rules, 2026 notified on March 5, 2026 and the changes introduce new definitions and reporting provisions relating to crypto-assets, electronic money products and digital currencies under the Common...

CBDT Issues Draft Income Tax Rules 2026 Navigator Mapping Existing Rules To New Framework

With the Income Tax Act, 2025 set to come into force on 1 April 2026, the Central Board of Direct Taxes (CBDT) has released the Draft Income Tax Rules, 2026 for public consultation. To assist stakeholders in navigating the transition, the CBDT has also published an official navigator that maps each of the 333 draft rules to their corresponding provisions under the existing Income Tax Rules, 1962, which currently comprise 511 rules. In addition to revising and consolidating existing draft...

Deep Tech Startups To Retain Status For 20 years Under New DPIIT Notification

On 4 February, the Ministry of Commerce and Industry, through the Department for Promotion of Industry and Internal Trade (DPIIT), issued a notification extending enhanced tax incentives and revising the startup recognition criteria for “Deep Tech Startups” (DTSs) DTSs are entities engaged in developing advanced scientific or engineering solutions involving high research and development intensity, significant intellectual property creation, long gestation periods, and elevated technical or...