"I have strong practical exposure in Indian taxation, GST compliance, TDS, and financial reporting. I specialize in simplifying complex tax provisions into practical insights for businesses and professionals. Through my articles, I aim to provide clear, actionable guidance on evolving tax laws, compliance requirements, and audit practices. I also assist clients with ITR, GST filings, TDS compliance, reconciliations, and audit support. For professional assistance or consultation, feel free to connect with me. At present, I am working as an Audit & Finance Associate at a Chartered Accountant firm in Bangalore. "
Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understanding the updated calendar can help avoid penalties and preserve important tax benefits.
The article explains the most common GST compliance errors leading to notices, ITC denial, and penalties in 2026. It also provides practical steps businesses can follow to reduce litigation risk.
The amended Finance Bill 2026 abolishes the Tax Recovery Officer’s power to arrest and detain taxpayers for recovery of dues. The move is positioned as a taxpayer-friendly reform aimed at reducing coercive recovery measures.
ITAT Bangalore restored the Section 54F claim after noting that medical issues and portal difficulties prevented timely filing of evidence. The AO was directed to re-examine all supporting documents before passing any adverse order.
The issue is understanding complex NPS rules, tax benefits, and recent updates. The framework clarifies withdrawal flexibility, tax treatment, and eligibility.
The court held that recovery cannot proceed against a legal heir without determining liability under Section 93, reinforcing due process requirements.
The Court held that once a GST assessment order attains finality, recovery under Section 79 can proceed without issuing prior notice to the taxpayer. It clarified that recovery actions can directly target bank accounts when dues remain unpaid. T
The issue was whether ITC is available on GST paid for leasehold rights used to build a plant. The ruling held ITC is blocked as the expense is linked to construction of immovable property, with capitalisation being the key factor.
The Court held that indirect share transfers deriving value from Indian assets are taxable. Treaty benefits were denied due to tax avoidance structure.
The law consolidates earlier TCS provisions under a new section without changing rates. The key takeaway is the need to update compliance references from April 2026.
