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,
The International Financial Services Centres Authority (IFSCA) hosted the two-day IFSCA Corporate Treasury Conference 2026 at GIFT City, bringing together more than 250 treasury professionals, bankers, fintech leaders, and corporate executives from India and overseas to discuss the future of global treasury operations. Addressing the conference, IFSCA Chairperson K. Rajaraman highlighted GIFT IFSC’s transformation from an initiative aimed at “onshoring
Introduction If you’re forming a business, some legal papers are essential to the company’s formation. Out of these, Memorandum of Association (MOA) is of the utmost importance. It is the company’s own constitution, establishing the guidelines that the company will be required to adhere to. It is not possible to incorporate a company without a proper draft of this document
You are conducting cross-border transactions, paying full GST, full corporate tax and yet falling short on pricing due to your competitors who operate out of Singapore and Dubai. Indian CFOs are always under the pressure of improving their competitiveness in the global market despite the increase in compliance cost and taxes. But what if you had a legally recognized way
Dear Readers, During the month of April 2026 the ceasefire of the Iran War brought a much needed peace in the region, helping stabilize economic activity and settle fears of rapid inflation globally and in India. Mr. Raghu Marwah, CEO visited Mumbai during the month to develop investment banking in commodity trade to assist in securing energy supplies to
Overview Economic conditions in 2026 are characterised by low growth, persistent inflationary pressure, and elevated external risk. The UK economy continues to expand, but at a limited pace, with forecasts for annual GDP growth revised down to between 0.6% and 0.8%. This reflects the impact of higher energy prices, weaker global demand, and ongoing geopolitical disruption. Inflation remains
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
20th April 2026: IFSCA Registers First Foreign Family Investment Fund, Boosting GIFT IFSC’s Global Wealth Hub Ambitions The International Financial Services Centres Authority (IFSCA) has taken a significant step in strengthening India’s position as a global financial hub by granting registration to the first foreign Family Office under its newly notified IFSCA (Fund Management) Regulations, 2025. This marks the debut