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Compliance Templates & Checklist for Section 194T – TDS on Payments to Partners
CA. Atul Agrawal, Former Vice Chairman CIRC
31/12/2025
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I am writing to share a set of compliance requirement and a detailed checklist that have been compiled to assist in implementing the obligations under Section 194T of the Income‑tax Act, 1961 (payments by partnership f...
ICAI Introduces Mandatory E-Diary for Practical Training from 1 Jan 2026
ICAI has announced a transformative shift in the administration of Practical Training with the launch of the Digital Practical Training (E-Diary) System. Implemented by the Board of Studies – Operations, the E-Diary fu...
MCA General Circular No. 08/2025: Deadline Extended to 31st January 2026 for Filing Financial Statements & Annual Returns (Companies Act, 2013)
The Ministry of Corporate Affairs (MCA) has issued General Circular No. 08/2025 dated 30th December, 2025, granting:Relaxation of additional feesExtension of time for filing Financial Statements and Annual Returns for FY...
Allowance of claim of interest expenses - assessee had claimed as business expenses and alternatively, as expenses allowable under the head “Income from House Property” u/s 24(b) - asset was put to use, Rup Kumar Ramchandani Prop. M/s SHE, Ajmer Versus Income Tax Officer, Ward-1 (2) Ajme
Allowance of claim of interest
expenses - assessee had claimed as business expenses and alternatively, as
expenses allowable under the head “Income from House Property” u/s 24(b) -
asset was put to use ITAT ...
Appeal Maintainable Despite Low Tax Effect Due to Accommodation Entry Exception: Delhi High Court in Pr. CIT-1 v. Agroha Fincap Ltd. (ITA No. 60/2024, 23.12.2025)
Delhi High Court:-Pr. Commissioner
of Income Tax – 1 VersusM/s Agroha Fincap Ltd.ITA No. 60/2024 | Judgment dated: 23 December 2025 CORE ISSUE:-Whether the appeal
filed by the Revenue before the High Court was m...
Interest u/s 220(2) Not Leviable Before Fresh Section 156 Demand Notice: ITAT Mumbai in Samsara Shipping (P) Ltd. v. ITO [TS-1710-ITAT-2025(Mum)]
Levy of interest under section 220(2) for period prior to fresh demand notice under section 156, unsustainable
Mumbai ITAT allows Assessee’s appeal observing that the levy of interest under section 220(2) in the prese...
No Tax on Trust with Overall Deficit Even if Activities Alleged Commercial: ITAT Mumbai in The Mysore Association Bombay v. ITO [TS-1713-ITAT-2025(Mum)]
No tax on Trust with overall deficit even if activity alleged to be commercialAssessee trust is registered under section 12A of the Act and filed its return of income declaring total income at Nil claiming exemption unde...
ITR-U Under Section 139(8A): A Costly Last Resort After 31st December for Missed Belated and Revised Returns
ITR-U: The High-Cost Compliance Window Beyond 31st DecemberA taxpayer who misses the 31st December deadline for filing a belated or revised return exits the normal compliance cycle. The only remaining recourse thereafter...
Bombay HC Quashes Assessment for Granting Only 3 Days to Respond: Minimum 7-Day Response to SCN Mandatory as per CBDT SOP in Dhiraj Lakhamshi Shah v. NFAC (AY 2020-21)
Mumbai High Court holds that assessment order passed with only three days’ response time to show cause notice issued under Section 144B(6)(xvi) violates natural justice and is liable to be quashed notwithstanding time-...
Levy of Interest u/s 220(2) Held Invalid Prior to Fresh Demand Notice u/s 156: ITAT Mumbai in Samsara Shipping (P) Ltd. v. ITO (AY 2021-22)
Mumbai ITAT allows Assessee’s appeal observing that the levy of interest under section 220(2) in the present case is impermissible in terms of statutory provisions; Highlighting that in the demand notice under section ...