Income Tax Department – smeaccountant

Close-up of a hand on tax form 1040 with a calculator on a desk.

TDS Challan Paid for Wrong Tax Year: Income Tax Department Clarifies Utilisation

Learn how the Income Tax Department handles TDS challans paid for the wrong tax year with the plus minus one year utilisation and TRACES correction facility.

Prasenjit Bhowmik October 19, 2026

Studio shot of income tax envelope with red pen for accounting and tax season preparation.

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Madras High Court Approves Advocate Appointment for Income Tax Records Review in Liquidation

Madras High Court permits appointing an advocate to examine tax records and settle a Rs.6.29 crore Income Tax Department claim during liquidation.

Prasenjit Bhowmik September 4, 2026

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Master File & Country-by-Country Report (CbCR): Forms 56, 57, 58, 59 & 60

The Income Tax Department has officially introduced Forms 56, 57, 58, 59, and 60 to streamline the submission process for the Master File and Country-by-Country Report (CbCR). This regulatory update…

Prasenjit Bhowmik August 14, 2026

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Madras HC Permits Advocate Appointment to Examine Income Tax Records in Liquidation

The Madras High Court allowed appointing an advocate to inspect tax records to resolve a 6.29 crore rupee claim during corporate liquidation.

Prasenjit Bhowmik August 10, 2026