Income Tax
Legal Team•21 Jan 2023
TDS under section 194Q
Section 194Q TDS on purchase of goods in FY 2026-27 — applicability, ₹50 lakh threshold, rate, interplay with section 206C(1H) and step-by-step compliance.
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Discover all our latest articles, guides, and updates related to Income Tax.
Income Tax
Legal Team•11 Jan 2023
New Guidelines under Section 194R
Section 194R TDS on benefits and perquisites in FY 2026-27 — CBDT guidelines, scope, rate, recipient treatment and step-by-step compliance for businesses.
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Income Tax
Legal Team•26 Dec 2022
Due Date to file Belated ITR
Belated ITR for AY 2026-27 can be filed up to 31 December 2026 under Section 139(4) — know the late fees, interest, restrictions, and process.
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Income Tax
Legal Team•24 Dec 2022
Faceless Income Tax Assessment
Understand faceless income-tax assessment under Section 144B in 2026 — scope, flow, taxpayer rights, and tips to respond effectively.
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Income Tax
Legal Team•11 Dec 2022
CBDT announced ITR-A for filing returns
Form ITR-A under Section 170A enables successor entities to file modified income-tax returns post court-approved mergers, demergers, and reorganisations.
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Income Tax
Legal Team•10 Dec 2022
CBDT issues circular regarding TDS
CBDT circular on TDS on salaries for FY 2026-27 — new regime default, slabs, Section 87A rebate, Form 12BB, perquisite valuation, and 24Q reporting.
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Income Tax
Legal Team•18 Nov 2022
Common ITR Form issued by CBDT
Understand CBDT's Common ITR Form for AY 2026-27 — a unified, wizard-driven return that replaces ITR-1 to ITR-6 and simplifies filing for Indian taxpayers.
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Income Tax
Legal Team•14 Nov 2022
Section 194N under IT Act
Section 194N levies TDS on large cash withdrawals — learn the FY 2026-27 thresholds, rates for non-filers, exemptions, and how to claim credit in your ITR.
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Income Tax
Legal Team•13 Nov 2022
Rule132 under Income tax
Rule 132 of the Income Tax Rules lets you recompute past income where cess or surcharge was wrongly claimed as deduction — without penalty under section 270A.
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Income Tax
Legal Team•12 Nov 2022
TDS Return
Filing wrong TDS data? Learn the six correction types (C1 to C9), the TRACES Conso File workflow, and how to avoid section 271H and 234E penalties.
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Income Tax
Legal Team•1 Nov 2022
CBDT Condones Delay in Form 10A
Form 10A is mandatory for trusts under section 12AB and 10(23C). Learn the CBDT condonation framework, filing steps, and penalties for missing the deadline.
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Income Tax
Legal Team•25 Oct 2022
Double Taxation Avoidance Agreement
Master DTAA in India — section 90 framework, types of relief, TRC and Form 10F, BEPS / MLI anti-abuse rules, and NRI benefits in FY 2026-27.
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Income Tax
Legal Team•21 Oct 2022
Foreign Bank and Financial Accounts
Disclose foreign bank and financial accounts in Schedule FA — what to report, CRS data flow, Black Money Act penalties, and AY 2027-28 compliance steps.
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Income Tax
Legal Team•11 Oct 2022
Cryptocurrency Taxable under GST
Cryptocurrency under GST in India — classification debates, exchange fees, mining, staking, P2P, and the conservative compliance position for FY 2026-27.
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Income Tax
Legal Team•27 Sept 2022
Taxation of MSME Under IT Act
How MSMEs are taxed under the Income-tax Act, 1961 in 2026 — concessional rates, presumptive schemes, Section 43B(h) and deductions every founder should plan around.
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Income Tax
Legal Team•20 Sept 2022
Amendment of Section 44ADA
How the amended Section 44ADA works in 2026 — ₹50 lakh and ₹75 lakh receipts ceilings, 50% presumption, who qualifies, and the cash-receipts test.
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Income Tax
Legal Team•12 Sept 2022
Amendments of Section 44AB
Section 44AB amendments and 2026 tax audit thresholds — ₹1 crore / ₹10 crore digital limit, professional limit, presumptive interplay and Form 3CD focus areas.
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Income Tax
Legal Team•9 Sept 2022
Cryptocurrency and its Taxation
How cryptocurrency and VDAs are taxed in India in 2026 — 30% flat rate under Section 115BBH, 1% TDS under Section 194S, and reporting in Schedule VDA / FA.
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Income Tax
Legal Team•30 Aug 2022
Equalisation levy
Equalisation Levy in 2026 — 6% on online advertising payments, history of EL 2.0 at 2%, compliance procedure, penalties and OECD Pillar One interplay.
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Income Tax
Legal Team•24 Aug 2022
CBDT Amends Rule 17CB
CBDT amends Rule 17CB substituting 'trust or institution' with 'specified person', aligning valuation of accreted income under Section 115TD for FY 2026-27.
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Income Tax
Legal Team•23 Aug 2022
Refund of Tax Deducted
Step-by-step procedure to claim refund of TDS deducted under Section 195 on payments to non-residents, including DTAA rate, Circular 7/2007 and AO process.
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Income Tax
Legal Team•18 Aug 2022
Section 115BAB
Section 115BAB offers 15% tax to new domestic manufacturing companies. Learn eligibility, Form 10-ID procedure, exclusions and decision framework for FY 2026-27.
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Income Tax
Legal Team•15 Aug 2022
Determination of Income of AOP
How AOP income is computed and taxed under the Income-tax Act — slab vs maximum marginal rate, Section 167B, Section 86 member taxation rules for FY 2026-27.
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Income Tax
Legal Team•14 Aug 2022
Section 194R
Section 194R imposes 10% TDS on benefits or perquisites exceeding ₹20,000 per year per recipient. Learn applicability, valuation and compliance for FY 2026-27.
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Income Tax
Legal Team•10 Aug 2022
UAE Corporate Tax
Detailed analysis of UAE Corporate Tax — 9% rate, free zone rules, transfer pricing, Pillar Two and Indian outbound implications for FY 2026-27.
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Income Tax
Legal Team•1 Aug 2022
Time Limit of ITR is reduced
CBDT reduced ITR verification window from 120 to 30 days. Learn rules, e-verification options, consequences of delay and best practices for FY 2026-27 filings.
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Income Tax
Legal Team•29 Jul 2022
Equalisation Levy
Equalisation Levy at 6% on online advertising continues in FY 2026-27 while the 2% e-commerce levy was withdrawn from 1 August 2024. Compliance and Pillar One impact.
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Income Tax
Legal Team•26 Jul 2022
Filing Income Tax Return
Why filing your Income-tax Return matters in FY 2026-27 — refund, loss carry-forward, loan eligibility, AIS reconciliation and the right ITR form for your profile.
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Income Tax
Legal Team•17 Jul 2022
Analysis of ITR-U Return
ITR-U lets you file an updated return up to 48 months from the end of the assessment year with graded additional tax. Eligibility, computation and FY 2026-27 strategy.
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Income Tax
Legal Team•11 Jul 2022
Taxation on Gratuity
Tax treatment and legal provisions of gratuity in India — Payment of Gratuity Act formula, ₹20 lakh exemption under Section 10(10) and FY 2026-27 employer compliance.
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