Hi there! 
In our last edition, we started getting familiar with the new Income Tax Portal, and how the shift from the 1961 Act to the 2025 Act looks when you e-Pay tax or file forms.
But that’s only half the story.
The TRACES Portal, the backbone for all your TDS filings, has also transitioned to the new Act —bringing a new interface, a different login flow, and updated TDS forms you’ll want to get right before your next filing.
Beyond the portals, the transition is getting personal for many. With the current global shifts, people are moving back to India after years abroad, and protecting the wealth they’ve built overseas becomes a critical concern. It is a high-stakes calculation where rules like RNOR status and your physical stay in India decide everything. You’d be surprised that even a single day’s difference in your return date can fundamentally change how that income is taxed.
Meanwhile, even the basics are shifting. If you’ve been filing under the Presumptive Taxation scheme as a professional, the Section 44ADA you’re used to citing has been renumbered under the 2025 Act, along with a couple of changes you’ll want to know about.
We’ve handpicked threads on these topics in today’s edition.
TOP THREADS
What’s new in the TRACES Portal?
With the beginning of the Tax Year 2026-27, and the implementation of the Income Tax Act, 2025, the TRACES portal have been updated to reflect these changes, just like the Income Tax Portal. You’ll now see a simpler login flow to the TRACES Portal with the elimination of the User ID field, a dual interface for…Continue Reading
I’m an NRI who’s just moved back to India. How will I be taxed now?
When you return to India after staying years abroad, your tax situation does look different. Most returning NRIs fall under a status called RNOR (Resident but Not Ordinarily Resident) for the first 2–3 years. During this period, your foreign income typically stays outside India’s tax net. After this period, you need to…Continue Reading
What’s changed in Presumptive Taxation Scheme under the 2025 Act?
The presumptive taxation scheme lets you report income on a presumptive basis, meaning it’s based on a presumption or probability, without maintaining detailed books of accounts. It’s popular among small businesses and professionals. Under the new Act, there are additions to who can opt for this scheme, along with…Continue Reading
FAQs
How do I access my old TDS data from FY 2025-26 and earlier?
After logging into TRACES, click on the “Compliance under Income-Tax Act, 1961” button on the homepage. This will redirect you to the old interface where you can download Form 16/16A, Form 26AS, and file corrections for past returns.
Can I bring my foreign savings to India without paying tax?
Yes, transferring foreign savings earned while you were NR to India is not a taxable event, regardless of whether you’re RNOR or ROR. However, interest earned on that money in Indian accounts becomes taxable.
Is there a five-year lock-in if I opt for the Presumptive Taxation scheme?
The five-year lock-in applies only to the business scheme, not the professional scheme. You can opt in and out without penalty, though opting out when your actual profit is below 50% can trigger a tax audit.
RESULTS FROM LAST DIGEST
You need to file Form 141 for TDS on property purchase if the value exceeds?
A) â‚ą25 lakh (0%)
B) â‚ą50 lakh (94%) 
C) â‚ą75 lakh (0%)
D) â‚ą30 lakh (6%)
Well done! 94% of people chose the right answer.