India's Union Cabinet recommended an ordinance to ease tax rules for foreign investors in certain securities, aiming to strengthen the rupee amid record FPI withdrawals and economic concerns.
India's Union Budget 2024 introduced new capital gains tax rules for property sales, effective July 23, 2024. Long-term gains now face a 12.5% tax without indexation, though residents and HUFs can opt for the old 20% with indexation if beneficial. Short-term gains remain unchanged.
Germany may overhaul its crypto tax rules from 2027, potentially curbing the country’s hallmark one-year tax-free holding rule as it tightens enforcement and seeks extra revenue.
India's new online gaming law effective May 1 classifies games into three categories with different tax treatments: online money games (completely prohibited, 30% flat tax on winnings without loss set-off), e-sports (30% TDS on tournament winnings), and social games (no tax implications for users). The key distinction is whether players stake money for returns versus participating without stakes.
New Income Tax Rules, 2026 effective April 1, 2026 mandate PAN for high-value transactions including purchase of motor vehicles above Rs 5 lakh, opening demat accounts, and investing in mutual funds above Rs 50,000. Form 60 has been replaced by Form 97 under the Income Tax Act, 2025, with expected reduction in filings by 80-85% from 12.5 crore to approximately 2 crore annually.
The Income Tax Rules, 2026 introduce new compliance requirements for Indian individuals acting as authorised signatories for foreign companies. Under the updated Form No. 96 (replacing Form 49AA), foreign entities must now disclose details of their Indian representative including PAN, contact information, and proof of identity/address. These individuals face potential personal liability for the foreign company's tax defaults, even after resigning, prompting concerns about reluctance to accept such roles.
