The CBDT extended the deadline for filing tax audit reports (to Nov 10, 2025) and ITRs for audited taxpayers (to Dec 10, 2025) for AY 2025-26. This relief addresses judicial mandates, natural disaster disruptions, e-filing portal glitches, and the complex compliance burden on businesses, facilitating accurate tax filing.
Learn about the Hindu Succession Act, 1956, its applicability, key provisions, and the 2005 amendment granting daughters equal rights as sons in Hindu Undivided Family property.
Sections 206AA and 206AB mandate higher TDS rates for recipients who fail to furnish PAN (up to 20%) or do not file an Income Tax Return despite high TDS/TCS (up to twice the normal rate or 5%). Higher of the two sections’ rates applies if both conditions are met.
GST 2.0 is a landmark reform aimed at boosting consumption and economic growth by rationalizing tax rates, making essentials cheaper and luxuries costlier. The reform is expected to have a multiplier effect on manufacturing, services, and employment, establishing a foundation for future tax structure stability
Know the key provisions of Sections 194Q and 206C(1H) on TDS and TCS for sale or purchase of goods, including thresholds, rates, exemptions, and compliance rules under the Income-tax Act.
Understand TDS on rent under Sections 194-I and 194-IB, including threshold limits, rates, timelines, filing requirements, and PAN-related implications for tenants and landlords.
Know the differences between Sections 80TTA and 80TTB of the Income-tax Act. Learn eligibility, deduction limits of Rs.10,000 and Rs.50,000, applicable income sources, and rules under the new tax regime Section 115BAC.
Section 44AA mandates books for professionals and businesses exceeding income thresholds. Details presumptive tax rules, required records, retention period, and ₹25,000 penalty.
Chennai ITAT ruled a S. 271D penalty time-barred, holding that the six-month limitation period starts from the AO’s recorded satisfaction in the assessment order, not the Addl. CIT’s notice.
Form MSME-1 is a mandatory half-yearly return for companies to report payments due to Micro and Small Enterprises (MSEs) exceeding 45 days. Learn about its purpose, applicability, filing procedure, and penalties for non-compliance.
