📰September 2026 Newsletter (Direct Tax)

This month’s edition from S K Patodia & Associates LLP features:

✅ Key due dates for September 2026, including TDS/TCS deposits, quarterly TDS/TCS returns, TDS certificates, and ITR filing due dates.

✅ Reader’s Digest:

1. Property in Alimony: Does receiving property in alimony trigger tax liability for wife?
2. FAST-DS 2026 – Foreign Assets Disclosure Scheme.
3. PAN inoperative if not linked with Aadhar Card.

✅ Key Income Tax Rulings, including case laws on:

• Hon’ble Supreme Court held that section 264 cannot be invoked to claim relief not sought in original return where revised return was not filed within prescribed time.
• Hon’ble Madras High Court holds that interest on bank FDs created out of loan funds is taxable in absence of specific remitter direction to treat such interest as corpus.
• Hon’ble Bombay High Court holds that TDS credit cannot be denied to deductee merely because deductor failed to deposit tax with Government.
• Hon’ble Delhi High Court held that penalty notice under section 271(1)(c) invalid where penalty notice fails to specify the applicable limb.

👉 Get expert insights and stay tax-compliant.

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