Monthly Archives: May 2026

Assessee Entitled to Fresh Consideration as Appellate Order Overlooked High Court Interim Orders Pending Writ Outcome Issue Whether the first appellate authority’s order should be set aside and the matter restored for fresh consideration because it completely overlooked the pendency of a writ petition before the High Court and the interim orders passed therein, while… Read More »

Schedule 80E – Interest on Loan Taken for Higher Education AY 2026-27 ‘Schedule 80E’ in the Income Tax Return is used to claim deduction for interest paid on education loans under section 80E. It requires the assessee to provide details such as the name of the lender (bank, financial institution, or approved entity), loan account number, date… Read More »

Schedule 80EE – Interest on Loan Taken for Residential House Property AY 2026-27 ‘Schedule 80EE’ in the Income Tax Return is used to claim the deduction under section 80EE for interest paid on home loans availed for the purchase of a residential house property. The assessee is required to furnish key information such as the name of… Read More »

Schedule 80EEA – Deduction in Respect of Interest on Loan Taken for Certain House Property AY 2026-27 ‘Schedule 80EEA’ in the Income Tax Return facilitates the reporting of interest paid on housing loans eligible for deduction under Section 80EEA. This deduction, up to Rs. 1,50,000, is available to individual assessees (resident or non-resident) for loans sanctioned between… Read More »

Schedule 80EEB – Deduction in Respect of Interest Paid on Purchase of Electric Vehicle AY 2026-27 ‘Schedule 80EEB’ in the Income Tax Return is used to claim deduction under section 80EEB for interest paid on loans taken for the purchase of electric vehicles. This schedule applies to individual taxpayers and supports the government’s initiative to promote eco-friendly transportation.… Read More »

Schedule Part A-BS – Balance Sheet AY 2026-27 Schedule Part A—Balance Sheet (Part A-BS) in the ITR form requires taxpayers to furnish details of their Balance Sheet as of March 31st of the relevant financial year. This schedule applies to individuals, Hindu Undivided Families (HUFs), firms, LLPs, companies, and other entities that earn income from… Read More »

Schedule Part A-Manufacturing Account AY 2026-27 Schedule Part A—Manufacturing Account in the Income Tax Return (ITR) form applies to taxpayers engaged in manufacturing activities. This schedule captures detailed information about the manufacturing process and cost components incurred during the financial year. It includes entries such as opening and closing stock of raw materials, purchases of… Read More »

Schedule Part A-Manufacturing Ind AS AY 2026-27 Schedule Part A-Manufacturing (Ind AS) in the ITR form applies to companies engaged in manufacturing activities that are required to prepare their financial statements according to Indian Accounting Standards (Ind AS). This schedule is designed to capture the cost structure and production performance of the manufacturing business during… Read More »

Schedule Part A-Trading Account AY 2026-27 Schedule Part A—Trading Account in the ITR form applies to taxpayers engaged in trading activities, including individuals, firms, and companies. This schedule captures the business’s trading results and calculates the gross profit or loss for the financial year. It includes key details such as opening stock, purchases, direct expenses,… Read More »