Recent Changes in Income Tax 

Recent updates in income tax forms, tax audit procedures, transfer pricing forms, and the implementation of Tax Collected at Source (TCS) aim to bolster revenue collection and curb tax evasion in India. These changes, coupled with Covid-related relaxations outlined in The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) bill, 2020, signify a proactive approach by

the Indian revenue authority to adapt to evolving economic conditions and ensure compliance.

Our concise analysis, which can be downloaded below, elucidates the nuances of these recent alterations in Income Tax regulations. By providing insights into the modifications and requisite compliance measures, we aim to facilitate a better understanding for taxpayers and professionals alike, enabling smoother adherence to the updated tax framework.