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News
ITAT Allows Section 80P Deduction to Co-operative Credit Society Where No Addition Made on Reopened Issues
8+ hour, 15+ min ago (108+ words) The ITAT Ahmedabad rules AO Cannot make fresh addition on an issue unconnected with reasons recorded for reassessment. ITAT Deleted Disallowance of Rs 11.06 Lakh CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs Mutual Fund…...
CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs
1+ day, 2+ hour ago (402+ words) The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statement of Financial Transactions (SFT-2517) relating to depository transactions. The Central Board of Direct Taxes has prescribed the format, procedure and guidelines for submission of…...
Mutual Fund Transactions to Feed ITR Pre-Filling: CBDT Prescribes Half-Yearly SFT Reporting
1+ day, 2+ hour ago (464+ words) The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statements of Financial Transactions (SFT-2518) relating to Mutual Fund transactions. CBDT Mandates Half-Yearly Reporting by RTAs The Central Board of Direct Taxes (CBDT) has notified…...
Tax Professionals Seek Extension of Tax Audit and Audited ITR Filing Deadline From September 30 to October 31, 2026
1+ day, 4+ hour ago (574+ words) Tax professionals have urged the government to extend the FY 2025-26 Tax Audit and audited ITR filing deadline from September 30 to October 31, 2026. Tax Pros Seek Audit Deadline Extension Tax professionals have urged the Finance Ministry to extend the deadline for filing…...
GST Council Meeting Rescheduled: 57th GST Council to Meet on October 7, Officers??? Meeting Set for October 5-6
6+ day, 12+ hour ago (408+ words) The 57th GST Council meeting has been postponed to October 7, 2026, with the Officers’ Meeting rescheduled for October 5-6 in New Delhi. GST Council Sets New Meeting Date The 57th meeting of the Goods and Services Tax (GST) Council, which was earlier scheduled for…...
GSTN Removes Portal Restriction: Taxpayers Can Now Appeal Against NIL or Zero Demand Orders
1+ week, 8+ min ago (356+ words) GSTN has removed the GST Portal validation restricting appeals against NIL or Zero demand orders, allowing taxpayers to file Form GST APL-01. Taxpayers Can Now Challenge NIL GST Demand Orders The Goods and Services Tax Network (GSTN) has introduced an…...
UCO Bank Invites Applications from CA Firms for Concurrent Audit Engagements; Apply by Sept 15
1+ week, 4+ hour ago (399+ words) UCO Bank has invited eligible practising CA firms to apply for concurrent auditor engagement, with online applications open from September 7 to September 15, 2026. Check Eligibility, Dates and Conditions UCO Bank, Audit and Inspection Department, Head Office, Kolkata, has opened the online…...
ITAT Sets Aside Rs 11.48 Crore Capital Gains Addition, Remands Case for Fresh Adjudication After Finding Lack of Hearing Opportunity
1+ week, 5+ day ago (147+ words) The ITAT Bench has set aside a Rs 11.48 crore addition on securities and mutual fund transactions, directing the AO to conduct a fresh assessment after proper verification and a meaningful hearing. ITAT Lucknow Sets Aside Rs 11.48 Crore Capital Gains Addition…...
ITAT Rules Section 54 Shortfall Cannot Be Treated as Concealment when Investment Period Had Not Expired
1+ week, 5+ day ago (104+ words) The ITAT Mumbai deleted penalty as unutilised section 54 amount was not taxable in original Assessment Year ITAT Deletes Rs 5.25 Lakh Penalty Former Oriental Bank Special Assistant Convicted in Rs 83.69 Lakh Bank Fraud Case, Gets 7-Year Jail Term and Rs 4.30 Lakh…...
Undisclosed Foreign Assets? Income Tax Department Activates Form 1 under FAST-DS 2026 on E-Filing Portal
1+ week, 5+ day ago (518+ words) The Income Tax Department has made Form 1 under FAST-DS 2026 available on the e-filing portal, allowing eligible taxpayers to voluntarily disclose previously undisclosed foreign assets and income by Dec 31, 2026. Taxpayers Can Now Voluntarily Disclose Undeclared Foreign Assets The Income Tax Department…...