How to File ITR 1 online AY 2026-27 Step by Step Guide For Assessment Year 2026-27, the ITR-1 (Sahaj) form is applicable to taxpayers who meet specific criteria regarding their residential status, income limits, and sources of income. Video How to File ITR 1 online ay 2026-27 Who Can File ITR-1: Residential Status: You must… Read More »
ITR 4 filing AY 2026-27 check these 10 Key Points before filing to Avoid Notice For Assessment Year (AY) 2026-27, the ITR-4 (Sugam) form is a simplified return designed for small taxpayers opting for presumptive taxation. You can file this form if you meet the specific residency, income, and profession criteria outlined by the Income… Read More »
Schedule ICDS – Effect of Income Computation Disclosure Standards on profit AY 2026-27 ‘Schedule ICDS’ in the Income Tax Return (ITR) form captures the impact of Income Computation and Disclosure Standards (ICDS) on the computation of total income. This schedule helps reconcile the difference between the accounting profit and the taxable profit computed under the… Read More »
Extension of the Punjab Prevention of Human Smuggling Act, 2012 and 2014. The Gazette of India CG-DL-E-07052026-272302 EXTRAORDINARY PUBLISHED BY AUTHORITY No. 2171] NEW DELHI, WEDNESDAY, MAY 6, 2026/VAISAKHA 16, 1948 MINISTRY OF HOME AFFAIRS NOTIFICATION New Delhi, the 6th May, 2026 S.O. 2261(E).— In exercise of the powers conferred by section 87 of the… Read More »
FORM FOR INFORMATION OF TENANCY IN CHANDIGARH TO RENT AUTHORITY FORM FOR INFORMATION OF TENANCY IN CHANDIGARH AS PER the Assam Tenancy Act, 2021 (hereinafter referred to as the Principal Act), so extended to the Union territory of Chandigarh, ON 6TH MAY 2026 by Govt of india THE FIRST SCHEDULE [See section 4(1) and 7(2)]… Read More »
Important Income Tax Case Laws 04.05.2026 Relevant Act Section Case Law Title Citation Brief Summary Income Tax Sec 4 & 5 ACIT v. Aamby Valley Ltd. Click Here Real vs. Notional Income: Customer advances and interest-free advances to related parties cannot be taxed as hypothetical income if business transactions are genuine and settled later. Income… Read More »
Mandatory vs. Directory: Validity of New Tax Regime (115BAC) for Delayed Form 10-IE Facts The Choice: For the Assessment Year 2021-22, the Assessee intended to opt for the “New Tax Regime” under Section 115BAC. The Procedure: To exercise this option, the taxpayer was required to file Form No. 10-IE before the due date specified under… Read More »
Delayed PF/ESI Deposits Cannot be Disallowed as a ‘Prima Facie’ Adjustment u/s 143(1) Facts The Dispute: For the Assessment Years 2018-19 to 2020-21, the Assessing Officer (AO) made additions to the total income of the Assessee on account of delayed deposits of employees’ contributions to Provident Fund (PF) and Employee State Insurance (ESI). The Mechanism:… Read More »
Search Assessments & The Ten-Year Limitation: Correct Reckoning of the Relevant AY Facts The Search: A search under Section 132 was conducted on 08-02-2024. The Financial Year: This search fell within the Financial Year (FY) 2023-24. The Reference Point: The Assessment Year (AY) relevant to this search is AY 2024-25. The Dispute: The Department issued… Read More »
Limitation Period for Reassessment: HC Directions on Procedure vs. ‘Findings or Directions’ under Section 153(6) Facts The Reopening: The Department initiated reassessment proceedings against the Assessee for AY 2015-16 under Section 148. Writ Challenge: The Assessee challenged the reopening before the High Court. The Court disposed of the writ with specific directions to the Assessing… Read More »