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sums covered by S.43B, except payable to MSME are allowable if actually paid before due date to file ITR. So, these can be claimed in ITR for payments up to 31.10.2026 (ITR due date).
CA Sudhir Halakhandi from Beawar , Rajasthan is a Tax expert. He write regularly on GST in newspaper and online platforms.
I request the views of tax professionals and TDS experts on the following issue under the Income-tax Act, 2025, regarding reporting in Form 140.
The ITAT, Kolkata Bench in M/s Diach Chemicals & Pigments Pvt. Ltd. set aside the addition sustained by the Commissioner of Income-tax (Appeals) on account of alleged bogus purchases and held that where the impugned purchases are duly backed by tax invoices, e-way bills, lorry receipts, weighment slips, GSTR-1 and GSTR-3B
Payments made to transporters for the carriage of goods are generally subject to tax deduction at source (TDS) under the Income-tax Act, 2025.
The Hon’ble Supreme Court in the case of The Deputy Director upheld the judgment by the Hon’ble Madras High Court in the case of Murali Krishna Chakrala which held that the Petitioner, a Chartered Accountant, who issued Form 15CB certificates to client entities without knowledge of forged documents or fraudulent intent, is not a conspirator and is discharged from prosecution under the Prevention of Money Laundering Act, 2002 (“PMLA”). The Court allowed his discharge while giving liberty to the prosecution to examine him as a witness.
Your tax refund claim can raise a red flag leading to tax notices and even jail in case of under-reporting of income; here’s how to avoid it
CA Harshil Sheth, an author of Income Tax Ready Referencer shares his view on upcoming New Income tax Law 2025.
The Indian Partnership Act, 1932, governs partnerships in India and similarly, The Limited Liability Partnership Act, 2008, governs LLPs in India. A valid partnership under both the Acts has been recognized by the Income Tax Act, 1961 and has also been granted a separate legal status in the Act.