CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : The Income-tax Act does not prescribe a single definition of "relative" for all purposes. Different provisions such as Sections 13...
Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Income Tax : This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also c...
Income Tax : The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentialit...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : Madras HC set aside cognizance under the Income-tax Act, holding Section 223(1) BNSS mandates hearing the accused before cognizanc...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : Gujarat HC quashed a Section 148 notice, holding that a seized inquiry register without a live nexus to the assessee cannot justif...
Income Tax : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : Madras HC held that merely issuing a corrigendum acknowledging the return did not rectify the defective assessment process and ord...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cros...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
The ITAT held that penalty under Section 271DA cannot be sustained where the Assessing Officer failed to record a clear and conscious satisfaction regarding violation of Section 269ST in the assessment order. The ruling reiterates that such satisfaction is a mandatory jurisdictional requirement.
A complete guide to the major Income Tax and GST compliance deadlines falling in July 2026, including ITR filing, TDS/TCS, GST returns, and statutory forms.
The article examines whether Section 58(3) of the Income-tax Act, 2025 makes tax audit compulsory whenever profits fall below 6%, regardless of turnover. It concludes that a harmonious interpretation suggests taxpayers should continue to be governed by the normal thresholds under Sections 62 and 63, though legislative clarification is needed.
The Income Tax Act, 2025 restores capital gains taxation for share buybacks from 1 April 2026, replacing the deemed dividend regime while introducing an additional tax for promoters.
The article clarifies that the CBDT’s 4 June 2026 instruction governs six categories of compulsory manual scrutiny and is distinct from the CASS risk-based selection process. It explains the scope of each category and how taxpayers should prepare.
The Calcutta High Court held that recovery exceeding 20% of the disputed tax demand during the pendency of an appeal before the CIT(A) was unsustainable in the absence of exceptional circumstances. It directed refund of the excess amount recovered.
The Calcutta High Court held that adjustment of a tax refund against a disputed demand could not be sustained while the stay application and appeal were pending. It directed release of the refund with statutory interest and restrained coercive recovery until the stay application is decided.
From 1 April 2026, TDS and TCS compliance shifts to new form numbers and section references under the Income-tax Act, 2025. Businesses must use the correct forms based on the transaction date to avoid filing errors.
The Gujarat High Court held that reassessment cannot be sustained merely because of high-value bank transactions without evidence of escaped income. It quashed the Section 148 notices and Section 148A(3) orders after finding that the transactions were recorded in audited books and adequately explained.
The Karnataka High Court held that merely filing an income tax return does not amount to retracting a statement recorded under Section 132(4). It upheld the restoration of the Rs.1.5 crore addition after finding the alleged retraction to be belated.
