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CBDT Extends Due Dates for AY 2026-27: Audit Report by 21st October, ITR by 21st November 2026 +Supplementary representation (in continuation of ours dated 22 September 2026) for extension of the specified date for furnishing Tax Audit Reports u/s 44AB and other audit reports for AY 2026-27 from 30 September 2026 to 31 October 2026, and of the return due date in audit cases from 31 October 2026 to 30 November 2026
The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income for Assessment Year 2026-27 in the case of persons mentioned at S. No. 2 in the Table below Explanation 2 to s...
Guidance on Generation of UDIN for Tax Audit Reports under Section 44AB and Transfer Pricing Reports under Section 92E – Assessment Year 2026-27
Date:
26 September 2026Subject: Guidance on Generation of
UDIN for Tax Audit Reports under Section 44AB and Transfer Pricing Reports
under Section 92E – Assessment Year 2026-27Dear Colleagues,As the tax audit season...
Set-Off and Carry Forward of Losses under Income from Other Sources
Set-Off and Carry Forward of Losses under
Income from Other SourcesRelevant Provision: Section
108
1. General Rule — Intra-Head and Inter-Head
Set-OffA loss
computed under Income from Other Sources (e.g., a ...
Clubbing of Income (Spouse & Minor Child) as Applicable to Other Sources
Clubbing of Income (Spouse
& Minor Child) as Applicable to Other SourcesRelevant Provision: Section
99
1. Why Clubbing Matters HereA common
tax-planning instinct is to transfer money or income-generating assets...
Deemed Income — Unexplained Credits, Investments, Money & Expenditure
Deemed Income — Unexplained Credits,
Investments, Money & ExpenditureRelevant Provision: Sections
102 to 106
Meta Description:
1. Why These Sections MatterSections
102–106 are the most litigated co...
Taxation of Gifts — Money & Property Received Without Consideration
Taxation of Gifts — Money &
Property Received Without ConsiderationRelevant Provision: Section
92(2)(m)
1. The Charging Provision — Three
CategoriesSection
92(2)(m) taxes gifts received by any person in th...
Deductions Allowed & Amounts Expressly Disallowed
Deductions Allowed & Amounts Expressly
DisallowedRelevant Provision: Section
93 and Section 941. Section 93 — What CAN Be Deducted
Income Type
Allowable Deduction
...
Letting Out of Machinery, Plant & Furniture
Letting Out of Machinery, Plant
& FurnitureRelevant Provision: Section
92(2)(f) and (g)
1. The Two Charging ClausesSection
92(2)(f) covers income from machinery, plant or furniture belonging to the
assessee an...
Keyman Insurance, Termination Compensation & Life Insurance Proceeds
Keyman Insurance, Termination Compensation
& Life Insurance ProceedsRelevant Provision: Section
92(2)(d), (j) and (l)1. Keyman Insurance Policy — Section
92(2)(d)A Keyman
insurance policy is taken by a business...
Interest Income — Bank Interest, Interest on Securities & Compensation Interest
Interest Income — Bank Interest,
Interest on Securities & Compensation InterestRelevant Provision: Section
92(2)(e) and (i)1. Charging ProvisionsSection
92(2)(e) covers interest on securities not chargeable unde...