Verendra Kalra & Co

Compensation Received on Compulsory Acquisition of Land Pursuant to a Mediation Agreement Is Not Liable to TDS Under the Income-tax Act.

Pls click to read..https://www.vkalra.com/images/news/attachment-205994-newsflash%20dt%20%202026.pdf

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Communique Direct Tax April 2026

Pls click to read...https://www.vkalra.com/programs/33757_Communique%20DT%20April%202026.pdf

Inside this edition:

- High Court Ruling

Where notices u/s 148 and 148A were issued on or after 01-04-21 for AY 2015-16, such notices were barred by limitation under amended regime read with TOLA and thus all consequential proceedings including reassessment order were to be quashed.

-ITAT Ruling

Where the assessee trust applied for registration u/s 12AB and approval u/s 80G with objects of providing medical relief by establishing a hospital, and such objects were not disputed and were charitable in nature, non-commencement of activities at application stage could not justify rejection of registration and, consequently, approval u/s 80G was granted.

Compensation (ex-gratia under BSNL VRS-2019) being retrenchment compensation to be treated as capital receipt fully exempt from tax and should not be restricted to section 10(10C) limit.

& more...

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Communique Indirect Tax April 2026

Pls click to read...https://www.vkalra.com/programs/23956_Communique%20IDT%20April%20%202026.pdf

Inside this edition:

Notifications and Update GST Advisory
- A Guide to Pre-Deposit Percentages GST Advisory
- Recalculating Interest Liability in GSTR-3B
- How to Appeal When Your Tax Order Shows NIL Demand After Voluntary Payment

Rulings
-Madras HC clarifies that Late Filing of GSTR-9C Attracts Late Fee on GSTR-9 -Recovery of Deceased Taxpayer's GST Dues from Son Without Adjudication is Legally Invalid; Frozen Bank Account Ordered to be Released.
-High Court Condones Delay in Appeal Filing Upon Establishment of Sufficient Cause; Matter Remanded.
-Cinemas Cannot Raise Base Ticket Prices to Absorb GST Rate Cuts Benefits Must Pass to Customers
-Courts Cannot Skip SCN Adjudication Before Imposing Penalty Under Section 129(3).
-Canteen Charges Recovered from Employees Attract GST with No ITC Relief :Maharashtra AAR
- ITC Admissible on Foundation and Structural Support for Factory-Installed Plant and Machinery, Rules AAR

Customs
-DGFT Puts Export Controls on Wood Pellets and Briquettes, Requires Prior Clearance
-DGFT Makes Electronic Certificate of Origin Mandatory, Bans Manual Issuance
-DGFT Rolls Out Interest Subvention for MSE Iron/Steel Exports, Issues Post-Export EPCG-Scrip Guidelines

Communique International Taxation April 2026

Inside this edition
-Opportunity to Produce Correct-Period Mauritius TRC; Case Sent Back for Fresh Decision
-Deletes addition for overlapping period against Kazakh resident, as per tie-breaker under Article 4(2) of DTAA
-Restores issue of DTAA ‘tie-break’ rule citing inadequate factors for determining centre of vital interest
-No Make‑Available, No FTS: Project Design Fees Outside TDS Net

Pls click to read...https://www.vkalra.com/programs/33166_Communique%20IT%20april%20%202026%20(1).pdf

Direct Tax Newsflash Vol 11
Exemption under Section 54F to be Allowed Before Set‑off; Carry‑Forward of Capital Loss Permissible

Pls click to read in detail... https://www.vkalra.com/images/news/attachment-6321106-newsflash%20dt%20%202026%20(11).pdf

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Penalty Imposed u/s 270A quashed, rules that penalty proceedings cannot be sustained if the notice is vague and fails to differentiate between under-reporting and misreporting of income.

Pls click here to read...https://www.vkalra.com/images/news/attachment-9684754-newsflash%20dt%20%202026%20(9).pdf

On Buddha Purnima, may you find peace within and spread goodness around you.

TDS/TCS Rate Chart for Tax Year 2026-27 onwards

Pls click to read...https://www.vkalra.com/images/news/attachment-9203492-newsflash%20dt%20%202026%20(7).pdf

Care for the Earth today, and it will care for us tomorrow.