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LatestIncome Tax 16 July 2026

India Tax Updates

The Indian government is considering amendments to the IT rules for OTT platforms and has introduced changes to the Income Tax Act, including a mandatory secondary address field in ITR forms for AY 2026-27. The government is also weighing action against ZEE5, and taxpayers are required to report cryptocurrency transactions in their ITR. The Income Tax Department is aiming to improve taxpayer profiling and has introduced new rules for tax deductions.

The Indian government is considering amendments to the IT rules for OTT platforms, which may impact the way content is streamed online.
- The government is weighing action against ZEE5 for allegedly violating India's sovereignty.
- The Income Tax Department has introduced a mandatory secondary address field in ITR forms for AY 2026-27 to improve taxpayer profiling.
- Taxpayers are required to report cryptocurrency transactions in their ITR, with a 30% tax on gains from the transfer of crypto assets.
- The new tax regime has introduced changes to tax deductions, and taxpayers are required to file full and accurate details in tax return forms to claim deductions.

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