Income Tax : Understand every reporting requirement under Form 3CD as amended by the Finance Act, 2026. This guide explains clause-wise disclos...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...
Income Tax : The new Form 26 replaces multiple audit forms with a single structured framework. It enhances transparency and introduces system-d...
Income Tax : Explains how Draft Form 26 fundamentally reshapes tax audit reporting by expanding it beyond book-to-tax reconciliation. The key t...
Income Tax : MPTCA urges the Finance Ministry and CBDT to reconsider the proposed late fee for delayed tax audit reports in the Finance Bill, 2...
Income Tax : Laghu Udyog Bharati seeks extension of due date for filing Tax Audit Reports and ITR for AY 2025-26, citing portal issues, delays,...
Income Tax : Taxpayers and CAs request an extension of the September 30 tax audit deadline and a waiver of advance tax interest, citing portal ...
Income Tax : ICAI requests CBDT to extend tax audit and ITR filing deadlines due to delayed ITR utilities and seeks auto-renewal of registratio...
Income Tax : The CA Association Jalandhar has requested extension of TAR and 12A renewal deadlines to 30 Nov 2025 citing ITR delays, portal iss...
Income Tax : ITAT Kolkata held that extensive documentary evidence, audited books, supplier confirmations and banking records established the g...
Income Tax : The Bombay High Court held that reassessment beyond four years was invalid because the assessee had fully and truly disclosed all ...
Income Tax : Mumbai ITAT held that disallowance under Section 40(a)(ia) cannot be made where expenditure remains part of work-in-progress and i...
Income Tax : ITAT Delhi allowed the appeal after noting the CIT(A) ignored a revised Tax Audit Report proving timely PF/ESI payments. Key takea...
Income Tax : ITAT Delhi allows Henna Industries' appeal, deleting a Rs. 9.30 lakh disallowance made by the CPC under Section 143(1), confirming...
CA, CS, CMA : ICAI sets limit of 60 tax audit assignments per CA or partner annually, effective from 1 April 2026, replacing earlier 2008 guidel...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : Stay updated with CBDT's Form 3CD Tax Audit Report Format, Form 3CEB & Form No. 65 revision. Learn about changes in tax audit rep...
Income Tax : CBDT extends the due date for filing of various reports of audit for Assessment Year 2022-23 from 30th September, 2022 to 7th Octo...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
It is requested to kindly consider amendment in the explanation to Section 288(2) of the Income ‘lax Act. 1961 ‘so as to include the profession of Company Secretary within the meaning of the Company Secretaries Act, 1980 in the definition of Accountant
The Tax Audit in India relates its history back to year 1984 when it was introduced with a view to check the accuracy of the books of accounts which are infact the basis while assessing the income of the assesses belonging to business class. During past so many years a lot of changes have been […]
Reporting requirements under clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Form No. 3CD is been kept in abeyance till 31st March, 2020. Circular No. 09/2019-Income Tax F. No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of […]
The Institute of Chartered Accountants of India UDIN BEING MADE MANDATORY IN 2nd PHASE FOR GST & TAX AUDIT REPORTS You may be aware that Unique Document Identification Number (UDIN) has been made mandatory as per the Council decision taken at its 379th Meeting held on 17th – 18th December, 2018 in the following phases: […]
Here we have compiled Status of Writ Filed in Various High Court for Extension of Tax Audit Due Date. As per our knowledge 12 writ petition been filed with various High Courts out of which Six Writ petition been already disposed off, Five are pending and status of one is not known to us. 1. […]
As concerns of the assessees have been suitably redressed with extension of due date by one month (i.e. till 31.10.18), representation of the Tax Bar Association, Guwahati dated 20.09.18, requesting for further extension of due date for filing ITR/TAR beyond 31.10.18 is hereby rejected.
Lucknow CA Tax Practitioners Association VS. UOI (Allahabad High Court) As far as prayer no.1 of the petitioner-association for issuance of a mandamus to the respondents to extend the “Due Date” of filing of Income Tax Return of Tax Audit Cases from 15.10.2018 to at least up to 31.10.2018 or such other date is concerned, […]
Appellant Foundation of Tax and Accounting Professionals (FTAPs) has withdrawn the writ in view of Further extension of Tax Audit Due Date by CBDT to 31.10.2018.
Gauhati High Court has instructed CBDT to Consider Representation filed by Tax Bar Association on or before 25.10.2018 by which they requested to extend the Tax Audit Due Date to 31.12.2018.
All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) 11.10.2018– It is an agreed position that subsequent to filing of these petitions, CBDT has granted extension for filing returns and accompanying documents. In that view of the matter, learned counsel for the petitioners does not press these petitions. Disposed of as […]
