Quick answer: The tax audit due date for AY 2026-27 (FY 2025-26) is 30 September 2026. As of 19 September 2026, the CBDT has not issued any notification extending it, so tax audit reports must still be uploaded by 30 September. The audit-case ITR is due on 31 October 2026. Transfer pricing cases have until
Tax Audit Due Date AY 2026-27: Key Changes, Checklist and Extension Status Read More »
BACKGROUND Finance minister Nirmala Sitharaman introduced Section 80EEA in the 2019 Union Budget to give a boost to the Centre’s Pradhan Mantri Awas Yojana (PMAY) and further boost real estate sector. The Section 80EEA deduction is over and above the Rs 2 lakh deduction limit allowed under existing provisions of Section 24 (b). WHO IS
Section 80EEA – Deduction for Interest on Home Loan Read More »
INTRODUCTION OF SECTION 43B Finance Act 2023, introduced a major amendment in Section 43B of the Income Tax Act, 1961 by adding sub-clause (H) to it. Section 43B deals with allowabilty of certain deductions on actual payment basis. As per Section 43B exepnses are allowed to deducted from Income from Business and Profession based on
Section 43B(h): Disallowance on non-payment/delay in payment to MSME Creditors Read More »
Interest earned by Senior Citizens on Deposits is Taxable subject to deduction under section 80TTB. What is Section 80TTB?Section 80TTB of the Income Tax Act 1961 provides a deduction in respect of interest earned on Specified Deposit to Senior Citizens and Super Senior Citizens. Who is eligible to Claim Deduction under section 80TTA?Deduction under section
Deduction under Section 80TTB of the Income Tax Act 1961 Read More »
Interest earned on Saving Bank Account is Taxable subject to deduction under section 80TTA. What is Section 80TTA?Section 80TTA of the Income Tax Act 1961 provides a deduction in respect of interest earned on savings account. Who is eligible to Claim Deduction under section 80TTA?Deduction under section 80TTA is available only to Individual and HUFs
Deduction under Section 80TTA of the Income Tax Act 1961 Read More »
