Income Tax
Legal Team•3 Jul 2022
Income Tax Advance Ruling
Income tax advance rulings provide binding clarity on transactions for non-residents and notified residents. Learn the scope, process and strategic uses.
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Discover all our latest articles, guides, and updates related to Income Tax.
Income Tax
Legal Team•30 Jun 2022
TDS Under Section 194H
Section 194H requires 5% TDS on commission and brokerage above the notified threshold. Read the applicability, exclusions and compliance for FY 2026-27.
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Income Tax
Legal Team•25 Jun 2022
Guidelines under section 194S(6)
Section 194S(6) guidelines clarify TDS on cryptocurrency and VDA transactions, including who deducts when exchanges or brokers are involved. Read the framework.
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Income Tax
Legal Team•17 Jun 2022
TDS under section 194R
Section 194R requires 10% TDS on business benefits and perquisites above ₹20,000. Read the CBDT guidelines, valuation rules and compliance steps for FY 2026-27.
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Income Tax
Legal Team•17 Jun 2022
TDS Relaxtion u/s 194I
CBDT has clarified several relaxations from TDS under Section 194I — for hotels, REITs, cold storage and more. Understand applicability for FY 2026-27.
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Income Tax
Legal Team•13 Jun 2022
High Value Transactions
Understand Section 285BA high-value transaction thresholds, AIS reporting, mandatory ITR filing rules and consequences for FY 2026-27 and AY 2027-28.
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Income Tax
Legal Team•11 Jun 2022
Exemption from advance tax
Resident senior citizens without business income are exempt from advance tax under Section 207(2). Conditions, eligible income and AY 2027-28 filing.
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Income Tax
Legal Team•11 Jun 2022
Rectification of mistakes
Section 154 lets you correct a mistake apparent from the record in any income tax order within four years. Step-by-step rectification guide for FY 2026-27.
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Income Tax
Legal Team•5 Jun 2022
Form No 10AC
Form 10AC is the electronic registration certificate for charitable trusts under Section 12AB. Validity, CBDT clarifications and renewal for 2026-27.
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Income Tax
Legal Team•31 May 2022
Presumptive Taxation Scheme
Presumptive taxation under Sections 44AD, 44ADA and 44AE lets small businesses, professionals and transporters declare deemed income. 2026 limits and rules.
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Income Tax
Legal Team•30 May 2022
Faceless penalty amendment scheme
The Faceless Penalty (Amendment) Scheme integrates penalty proceedings under NaFAC with VC hearings. Coverage, rights and compliance tips for 2026.
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Income Tax
Legal Team•25 May 2022
Aadhar must link with PAN
Aadhaar-PAN linking is mandatory under Section 139AA. Know consequences of inoperative PAN, higher TDS, late fee, exempt categories and online linking process.
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Income Tax
Legal Team•21 May 2022
JSON Scheme for Form ITR-7
CBDT has shifted ITR-7 to JSON utility for trusts, political parties and exempt institutions. Filing workflow, linked forms and common errors for AY 2027-28.
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Income Tax
Legal Team•11 May 2022
Angel Taxation under Income Tax
Angel tax under Section 56(2)(viib) taxes excess share premium over FMV in closely-held companies. Safe harbours, DPIIT exemption and Rule 11UA valuation guide.
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Income Tax
Legal Team•10 May 2022
Taxation on Virtual Digital Assets
Section 115BBH taxes income from virtual digital assets at flat 30% with no expense or loss offset. Plus 1% TDS under Section 194S. Complete FY 2026-27 guide.
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Income Tax
Legal Team•7 May 2022
Hindu Undivided Family
A Hindu Undivided Family (HUF) is a separate taxable entity with its own PAN, exemption and deductions. Formation, benefits and FY 2026-27 planning guide.
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Income Tax
Legal Team•6 May 2022
Form 3CA-3CD & 3CB-3CD
Complete 2026 guide to filing Forms 3CA-3CD and 3CB-3CD on the income-tax e-filing portal — applicability, UDIN, schema updates and key pitfalls.
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Income Tax
Legal Team•6 May 2022
Annual Information System
Understand the Annual Information Statement (AIS) for AY 2026-27 — what it captures, how to access it, and how to reconcile entries before filing ITR.
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Income Tax
Legal Team•3 May 2022
Deduction of Electric vehicle
Section 80EEB lets individuals claim up to ₹1.5 lakh deduction on EV loan interest — eligibility, old vs new regime, documents and pitfalls explained for 2026.
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Income Tax
Legal Team•1 May 2022
Form 10B used for rectify mistakes
How to rectify mistakes in Form 10B — revised forms, revised returns under 139(5), updated returns under 139(8A), Section 154 and CBDT condonation routes.
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Income Tax
Legal Team•1 May 2022
Section 139(8A) for Updated Return
Section 139(8A) lets you file an updated return (ITR-U) up to 48 months later with additional tax — eligibility, time slabs, restrictions and step-by-step filing.
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Income Tax
Legal Team•30 Apr 2022
Last date to Update UDIN
UDIN must be linked on the income-tax e-filing portal within 60 days of uploading an audit report or certificate — generation, linking and pitfalls for AY 2026-27.
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Income Tax
Legal Team•29 Apr 2022
CBDT released forms for filing on Portal
CBDT has released income-tax forms for AY 2026-27 — ITR-1 to ITR-7, tax audit forms and trust audit forms. Key changes, due dates and filing tips inside.
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Income Tax
Legal Team•26 Apr 2022
ITR-1
ITR-1 (Sahaj) for AY 2026-27 — eligibility, default new regime, documents, step-by-step filing and due dates for salaried individuals up to ₹50 lakh income.
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Income Tax
Legal Team•16 Apr 2022
Insertion of new section 140B
Understand Section 140B, the tax computation rule for ITR-U updated returns in AY 2026-27, including additional tax slabs, payment steps and disqualifications.
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Income Tax
Legal Team•16 Apr 2022
Aadhar Authentication for taxpayers
Complete 2026 guide to Aadhaar authentication for GST taxpayers: process, who needs it, biometric trigger jurisdictions and impact on refunds and revocation.
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Income Tax
Legal Team•16 Apr 2022
ITR forms for FY 2021-22
Choose the correct ITR form for FY 2025-26 and FY 2026-27 with this 2026 guide to ITR-1 to ITR-7, including new regime defaults and disqualifications.
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Income Tax
Legal Team•15 Apr 2022
TDS on interest in PF Contributions
Understand TDS on PF interest in FY 2026-27: thresholds, Rule 9D computation, EPFO reporting and how to disclose taxable PF interest in your ITR.
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Income Tax
Legal Team•14 Apr 2022
Save your Taxes through HUF
Use a Hindu Undivided Family in FY 2026-27 to legitimately save tax through a separate exemption limit, independent deductions, and family asset structuring.
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Income Tax
Legal Team•13 Apr 2022
New ITR forms for the A.Y 2022-23
Decode CBDT's refreshed ITR forms for AY 2026-27 and AY 2027-28: regime default, VDA schedule, foreign asset disclosure, and form selection by taxpayer profile.
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