Insights · Topic
Direct tax notes
Income tax in plain terms: the Income-tax Act, 2025, the 1961 Act for earlier years, tax audit, returns, and notices.
Tax audit and return dates extended for AY 2026-27: what CBDT Circular 07/2026 says
CBDT Circular No. 07/2026 moves the tax audit report date to 21 October and the return date to 21 November 2026 for audit cases. Who is covered, and what stays.
A tax notice has arrived: what to collect before anyone replies
How to read a notice from the Income Tax Department or the GST authorities, and the papers to gather before a reply is drafted.
Before you file: reconciling AIS, Form 26AS, and the books
A pre-filing routine for income tax returns for AY 2026-27: compare the department's statements with the books, close the gaps, and know which due date applies.
Advance tax under section 408: the 15 June instalment for tax year 2026-27
How advance tax works in the first tax year under the Income-tax Act, 2025: the four instalments, a worked example, the presumptive exception, and what to record.
Tax audit under section 63 and Form 26: who needs one and which form applies to which year
Tax audit moves from section 44AB to section 63, and from Forms 3CA/3CB/3CD to Form 26. Who needs one, the due date, and the transition years.
Tax year replaces assessment year: what changes from 1 April 2026
The Income-tax Act, 2025 applies from 1 April 2026. Which Act governs which year, what stays the same, and what to keep separate in your records.