Tax Planning for NRI Returning to India Before Becoming ROR Introduction Tax planning for NRI returning to India should start before the person becomes Resident and Ordinarily Resident, also known as ROR. Under the Income-tax Act, 2025, residential status decides […]
Tax Audit Due Date Extension AY 2026-27: New Audit & ITR Filing Deadlines Introduction The Tax Audit Due Date Extension AY 2026-27 has brought a revised timeline for taxpayers who are required to get their accounts audited under the [...]
Income Tax Compliance Calendar October 2026: Filing Guide Introduction The Income Tax Compliance Calendar October 2026 highlights important income tax obligations applicable to taxpayers, businesses and entities covered under audit and transfer pricing provisions. October 2026 includes key compliance […]
Professional Tax Registration Cancellation Process Explained Introduction Professional Tax is a state-level tax applicable to individuals and businesses engaged in professions, trades, callings, or employment, subject to the provisions prescribed under respective state laws. Businesses liable under applicable Professional Tax […]
Defective Return Notice: Resolve Schedule BS & PL Errors Introduction Receiving a Defective Return Notice from the Income Tax Department means that the filed Income Tax Return (ITR) contains incomplete, inconsistent, or incorrect information that requires correction. Such notices are […]
Section 87A Capital Gains in 2026: The Rs. 12 Lakh Trap Explained Introduction “No tax up to Rs. 12 lakh” is useful shorthand for the new tax regime, but it is not a blanket exemption. For AY 2026-27, an eligible […]
Form 10B and Form 10BB Audit Requirements for Charitable Trusts Introduction One of the important compliance obligations for eligible charitable trusts and institutions is furnishing the prescribed audit report. However, many trust administrators face confusion regarding Form 10B and 10BB […]
12AB and 80G Notice Reply: Documents Required and Response Process Introduction A trust, society, Section 8 company, or other eligible non-profit organisation may receive a notice from the Income Tax Department while its registration or approval application is under examination. […]
Health Insurance Deduction Under Section 126: Rules & Limits Introduction Health insurance protects families from rising medical costs and can also provide a tax benefit when the legal conditions are satisfied. Section 126 of the Income Tax Act, 2025 provides […]
