How JioFinance Makes Income Tax Return Filing Easier Filing your income tax return (ITR) is an essential financial responsibility. Besides helping you comply with tax regulations, timely ITR filing plays an important role in claiming eligible tax refunds, applying for loans, maintaining financial records and strengthening your financial profile. However, many taxpayers still find the …
Income Tax Return filling for Salaried Individuals for AY 2026-27 Income Tax Return (ITR) Forms ITR-1 (Sahaj) ITR-1 (Sahaj) is a simplified return form applicable to resident individuals (other than Resident Not Ordinarily Resident – RNOR) whose total income does not exceed ₹50 lakh during the financial year. The form can be used by taxpayers …
Compliance Calendar for the Month of July 2026 The Compliance Calendar for July 2026 covers key statutory due dates under GST, income tax, TDS/TCS, PF/ESI, and MCA/ROC compliances. Businesses, professionals, and taxpayers should ensure timely compliance to avoid interest, penalties, and notices. Major Compliance Due Dates – July 2026 Goods and Services Tax Compliances Due Date …
GSTN Revises Timeline for Amendment of Aggregate Annual Turnover for FY 2025-26 GSTN through its advisory dated 1 July 2026, has revised the timeline for amendment of aggregate annual turnover for financial year 2025-26 on account of system enhancements that enable automatic updatio of aggregate annual turnover based on subsequent Goods and Services Tax return …
Valuation for Impairment Testing – A Comprehensive Guide under Ind AS 36 In today’s dynamic business environment, assets may lose value due to market disruptions, technological changes, economic slowdowns, regulatory developments, or operational inefficiencies. Financial reporting standards therefore require entities to ensure that assets are not carried in the books at amounts exceeding their recoverable …
Institute of Chartered Accountants of India to Help Tirumala Tirupati Devasthanams Enhance Accounting System significant development where Tirumala Tirupati Devasthanams, the governing body of the world-famous Sri Venkateswara (Tirupati Balaji) Temple, has sought assistance from the Institute of Chartered Accountants of India to strengthen its accounting, financial reporting, internal control, and donation management systems. This …
Understanding Clubbing of Income & Tax Logic Behind Gifting Assets Gifting money or assets to family members is a common tax and estate planning tool. However, many taxpayers assume that once an asset is gifted, all future income automatically becomes taxable in the recipient’s hands. This is not always true. The Income Tax Act contains …
FSSAI Update for Food Businesses: Revised Turnover Thresholds Effective from 01.04.2026 The Food Safety and Standards Authority of India (FSSAI) has significantly revised the turnover thresholds for categorization of Food Business Operators (FBOs) under the Food Safety and Standards (Licensing and Registration of Food Businesses) Regulations. The revised limits came into effect from 1 April …
Tax Alert in 15k to 20k cases: The ‘Swapped Provisions’ Trap via attempted to reduce their tax liability The Income Tax Department has reportedly identified 15k to 20k cases where taxpayers allegedly attempted to reduce their tax liability by replacing one exemption or deduction with another while filing revised returns u/s 139(5) or updated returns …
New UDIN Dashboard for Tax Audit Assignments (Effective from 1 April 2026) This blog explains the new Unique Document Identification Number Dashboard introduced for monitoring tax audit assignments under Section 44AB and tracking the tax audit ceiling applicable to chartered accountants. The Unique Document Identification Number Dashboard is intended to give chartered accountants a transparent …