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The article explains the complete evolution of buyback taxation in India, highlighting how tax liability shifted between companies and shareholders across different legislative phases....

Section 265 of the Income Tax Act, 2025 specifies who can legally verify an income tax return for different assessees. Incorrect verification may result in the return being treated as invalid, affecting refunds and carry-forward losses....

The Tribunal ruled that once an assessee validly opts for the DCF method and submits a qualified valuation report, the Assessing Officer cannot switch to the NAV method. The decision reinforces the statutory valuation options available under Rule 11UA....

The revised content expands tax planning guidance for business setup by extending deduction analysis up to AY 2026-27 and Tax Year 2026-27. Updates also include revised statutory references and schedules for multiple deduction provisions....

Clause 43 in Tax Audit Form No. 26 requires auditors to verify remittances reported in Part-D of Form 145. Incorrect classification of non-taxable foreign payments may invite tax department inquiries and litigation....

The article explains the structure, filing requirements, and tax implications of IRS Form 1041 for trusts and estates. It highlights that the return involves detailed disclosures, schedules, deductions, and compliance obligations requiring expert handling....

The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepancies in ITR filings. Mismatches between AIS, Form 26AS, bank records, and ITR disclosures may lead to scrutiny or notices....

Income Tax authorities are increasingly reopening assessments involving political donation deductions claimed under Section 80GGC. Taxpayers are facing allegations that such donations were accommodation entries lacking genuine substance....

Filing Income Tax Return is not always linked to tax liability. This guide explains the transaction-based conditions under Section 139(1) that make ITR filing compulsory even for low-income taxpayers....

Form 157 under the Income-tax Act, 2025 is not required for every person leaving India. The requirement applies only in limited cases involving tax investigations, financial irregularities, or large outstanding tax arrears....