Important Judicial Precedents Addition u/s 69 based solely on sec. 132(4) statement without corroborative evidence was liable to be deleted: HC [2026] 186 taxmann.com 143 (Madras-HC) PCIT v. M. Kiran Kumar Where addition of undisclosed income was made solely on basis of statement recorded under section 132(4) without any corroborative evidence and statement did not relate to assessee in his
Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) June 10, 2026 GSTR-8 (Tax Collected at Source ‘TCS’) June 10, 2026 GSTR-1 June 11, 2026 IFF- Invoice furnishing facility (Availing QRMP) June 13, 2026 GSTR-6 Input Service Distributor June 13, 2026 GSTR-2B (Auto Generated Statement) June 14, 2026 GSTR-3B June 20, 2026 GSTR-5 (Non-Resident Taxable Person) June 20,
7th May Due date of Deposit of TDS/ TCS for the Month of April, 2026 15th May Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, 194-M & 194S in the month of March, 2026 15th May Quarterly statement of TCS deposited for the quarter ending March 31, 2026 30th May Issue of TCS certificates
NOTIFICATION G.S.R. 286(E) [NO. 64/2026/F. NO. 370142/41/2025-TPL], DATED 16-4-2026 The CBDT issues corrigendum to IT Rules 2026; drops mention of ‘Aadhaar’ instead of ‘PAN’ in several Income Tax forms. NOTIFICATION S.O. 1715(E) [NO. 56/2026/F. NO. 500/22/2022-FT&TR-V], DATED 2-4-2026 India–Japan MoU notified for mutual assistance in tax collection effective from 8 July 2025. Important Judicial Precedents SLP disposed of: section 263
Sun Pharmaceutical Industries has announced the acquisition of Organon & Co in an all-cash deal valued at approximately $11.75 billion (Around INR 1,10,620 crores), including debt, marking the largest overseas acquisition by an Indian pharma company. The transaction aligns with Sun Pharma’s strategic shift toward higher-margin specialty segments such as dermatology, oncology, and obesity, amid margin pressures in the US
Indirect Tax News Letter Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) May 10, 2026 GSTR-8 (Tax Collected at Source ‘TCS’) May 10, 2026 GSTR-1 May 11, 2026 IFF- Invoice furnishing facility (Availing QRMP) May 13, 2026 GSTR-6 Input
April 2026 – Tax Calendar 7th April Due date of Deposit of TCS collected for the Month of March , 2026 7th April Uploading of declarations received in Form 27C from the buyer in the month of March, 2026 14th April Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, 194-M & 194S in the month
CBDT specifies new forms for changes or corrections in PAN data [ORDER F. NO. ADG(S)-1/PAN/M/3699/2026 dated 01.04.2026] The CBDT has notified two forms for furnishing an application for correction of PAN, namely: a) Form PAN CR-01 for individuals; and b) Form PAN CR-02 for non-individuals. CBDT amends GAAR Rules to allow grandfathering of investments made before 01-04-2017; dilutes Tiger Global
GST Calendar –Compliances for the month of March ’2026 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) April 10, 2026 GSTR-8 (Tax Collected at Source ‘TCS’) April 10, 2026 GSTR-1 April 11, 2026 IFF- Invoice furnishing facility (Availing QRMP) April 13, 2026 GSTR-6 Input Service Distributor April 13, 2026 GSTR-2B (Auto Generated Statement) April 14, 2026
A consortium comprising Aditya Birla Group, Times of India Group, Bolt Ventures, and Blackstone has agreed to acquire the Indian Premier League Franchise Royal Challengers Bengaluru for $1.78 billion (Around INR 16,500 crores) following a competitive bidding process. The sale by United Spirits, the Indian arm of Diageo, follows a strategic review that classified the franchise as non-core to its