Daily Archives: May 26, 2026

Appeal Against Assessment Order Is Maintainable Regardless of Pending Appeal Against Section 143(1) Intimation Issue Whether an appeal filed against a regular assessment order passed under section 143(3) is maintainable when a separate appeal against the initial intimation under section 143(1) and a rectification application under section 154 are already pending on related grounds. Facts… Read More »

Unpaid TDS embedded in work-in-progress cannot be disallowed if expenditure is not claimed in profit and loss. Issue Whether a disallowance under section 40(a)(ia) for failure to deposit deducted tax at source (TDS) can be made in the current assessment year if the underlying expenditure was capitalised into work-in-progress (WIP) for incomplete projects and not… Read More »

ITR filing 2026 ! 6 important reasons taxpayers should wait until mid-June for AY 2026-27 Taxpayers should wait until mid-June 2026 to file their Income Tax Return (ITR) for Assessment Year (AY) 2026-27 to ensure that all financial data, tax deductions, and third-party transaction statements are fully updated and synchronized on the government portal. Even… Read More »

Planning to send money abroad? Here’s what taxpayers should know about new income tax forms 145 and 146 Effective April 1, 2026, the Income Tax Department introduced Form 145 and Form 146 to track foreign remittances, completely replacing the older Form 15CA and Form 15CB framework. If you are sending money outside India to a… Read More »

ITR filing 2026: How to e-verify your return? 5 key points to know To e-verify your Income Tax Return (ITR) for Assessment Year (AY) 2026-27, log into the Income Tax Department e-Filing Portal, navigate to e-File > Income Tax Returns > e-Verify Return, and select your preferred digital verification mode. Filing your return is only… Read More »