Shubham R K and Associates

26/08/2026

20/08/2026

Application of mind!

18/08/2026

Another crackdown by Income Tax Department.

14/08/2026

Let your books know the exact reason!

13/08/2026

Regular and proper accounting is a saviour!

12/08/2026

Importance of maintaining proper books of accounts!

11/08/2026

The Income tax Act, 2025 is already in force. Yet the tax audit being conducted today is still under the Income tax Act, 1961.

For FY 2025-26, the tax audit continues to be governed by the old Act and will still be reported through Forms 3CA/3CB/3CD. The new unified Form 26 comes into play for Tax Year 2026-27.

This tax audit season is therefore unusual: professionals are closing one year under a law that has already been replaced, while advising businesses for the current year under the new law.
For some time, understanding the transition may be just as important as understanding the provision itself.

20/05/2026

The Income Tax Department has enabled filing utilities for ITR-1 and ITR-4 for Assessment Year 2026-27, thereby commencing the return filing process for the financial year 2025-26.

With the filing utilities now available, taxpayers may find it useful to avoid filing returns in haste and first review whether relevant financial information is appropriately reflecting in the tax records. In many cases, details relating to TDS, interest income, securities transactions, high-value transactions, mutual fund investments, and other reportable information may continue to get updated in Form 26AS and AIS/TIS over a period of time.

Accordingly, before proceeding with return filing, taxpayers may review whether tax credits, income details, and other reportable transactions are properly appearing and reconciled with the available records, wherever applicable. In cases where any TDS entry or financial information is not appropriately reflecting, the same may require updating by the concerned deductor or reporting entity.

20/05/2026

Recent discussion relating to the Income Tax Act, 2025 and related taxpayer issues on Doordarshan.