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 And Forms For New Act With 34% Fewer Rules [Read Draft Rules Here]

The Central Board of Direct Taxes (CBDT) has released the draft Income Tax Rules, 2026 along with the draft forms, in connection with the Income Tax Act, 2025, which is scheduled to come into force from April 1, 2026. The draft rules and forms have been placed in the public domain to invite comments and suggestions from stakeholders and the general public.As per the CBDT, the draft Income Tax Rules, 2026 will remain open for public feedback for a period of 15 days, up to February 22,...

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...