Clarification issued regarding certain email communications sent under the Advance Tax e-Campaign for AY 2026–27 (FY 2025–26)
Clarification issued regarding certain email communications sent under the Advance Tax e-Campaign for AY 2026–27 (FY 2025–26) The copy of the order is as under: The post Clarification issued regarding certain email communications sent under the Advance Tax e-Campaign for AY 2026–27 (FY 2025–26) appeared first on The Tax Talk.
Revision u/s 264 – PCIT bound to follow ITAT Special Bench: Tax on Deemed STCG u/s 50 at LTCG rate u/s 112
Revision u/s 264 – PCIT bound to follow ITAT Special Bench: Tax on Deemed STCG u/s 50 at LTCG rate u/s 112 Bombay High Court-Samir N. Bhojwani. vs. Principal Commissioner of Income Tax & Ors. Writ Petition (L) No. 37709 of 2025 Decision dated: 06 January 2026 Core Issue:-Whether, while exercising revisionary jurisdiction under… […]
Updated Return 2.0: From Correction Tool to Compliance Settlement Framework
Updated Return 2.0: From Correction Tool to Compliance Settlement Framework We have discussed the Updated Income Tax Return (ITR-U) in this column earlier. At that time, it was seen largely as a voluntary correction mechanism – a safety valve for taxpayers who discovered omissions after filing their return. But the law has not stood… […]
ROC Bengaluru Imposes Penalty for Approving Share Transfer in Physical Form
ROC Bengaluru Imposes Penalty for Approving Share Transfer in Physical Form A significant compliance reminder for companies that are public companies or deemed public companies regarding mandatory dematerialisation of shares. Case: In the matter of Stalwart Intellisense Private Limited The Registrar of Companies (ROC), Bengaluru imposed penalties on the company and its directors… […]
Budget 2026: No deduction of interest in case of dividend income
Budget 2026: No deduction of interest in case of dividend income Amendment: 1. The Union Budget 2026 has proposed a significant tax change by completely disallowing the deduction of interest expenses on borrowed funds used to earn dividend income or income from mutual fund units. 2. Effective April 1, 2026, the prior 20% limit… […]
AI vs. Tax Evasion: The Success of NUDGE:
AI vs. Tax Evasion: The Success of NUDGE: Meaning of NUDGE: 1. NUDGE stands for Non-Intrusive Usage of Data to Guide and Enable, and the CBDT has carried out two campaigns under this banner till now – first in November 2024 for taxpayers who had undisclosed foreign assets for the assessment year 2024-25, and… […]
No Permanent Establishment In India, Booking. com’s ₹3,960 Cr Commission Not Taxable: ITAT
No Permanent Establishment In India, Booking. com’s ₹3,960 Cr Commission Not Taxable: ITAT Booking. com Versus ACIT Case No.: ITA No.2033/Del/2025 Facts: 1. The company had not filed a return of income in India despite receiving substantial payments from Indian accommodation providers. 2. Based on information from AIR data and Form 26AS, the department… […]
Making March Meaningful – Because 31st March Doesn’t Come with an Extension!
Making March Meaningful – Because 31st March Doesn’t Come with an Extension! In cricket, the last few overs often decide the match. In taxation too, the last few weeks of March can decide the tax liability of the entire year. Smart taxpayers use this time to review their finances, correct mistakes, and legally optimize… […]
Updated Return Allowed Even After Reassessment Notice – A Fresh Compliance Window under Finance Bill 2026
Updated Return Allowed Even After Reassessment Notice – A Fresh Compliance Window under Finance Bill 2026 The concept of filing an Updated Return (ITR-U) was introduced a few years ago with the objective of encouraging voluntary tax compliance. It allowed taxpayers to correct omissions or declare additional income even after filing the original return…. […]
Advance Tax under the Income Tax Act, 2025: Who Must Pay, Instalment Dates, and Interest Implications
Advance Tax under the Income Tax Act, 2025: Who Must Pay, Instalment Dates, and Interest Implications The concept of advance tax is often described as the “pay-as-you-earn” principle of taxation. Instead of waiting until the end of the year to pay taxes in one lump sum, taxpayers are required to pay tax in instalments… […]
