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Meeting ID: 851 9357 9818
Passcode: 833170

About the Subject / Why one must attend this session :

1. New compliance landscape for 2026-27
Filings now operate under the old Income Tax Act of 1961 and Income Tax Rules, 1962, and from AY 2026-27, ITR-7 additionally requires details of registration or approval that weren't asked for before. Practitioners need this update before the filing season peaks.

2. Getting 10B vs 10BB wrong is costly.
Filing the wrong form counts as non-furnishing of the audit report altogether, risking outright denial of exemption under Sections 11, 12, or 10(23C).

3. Sequencing matters
Since ITR-7 pulls figures directly from the audit report, we should know what data comes from the audit report and maps in the ITR and the do's and don'ts while filing both the Audit Report as well as Income Tax Returns

4. Tight deadlines
ITR-7 is due 31st July 2026 (non-audit cases) or 31st October 2026 (audit cases) — but since the audit report must be filed and accepted before ITR-7, the real internal deadline is earlier than it looks. Also, we will get to know the consequences if the trust's audit reports and ITR-7 are not filed in time

5. Cross-filing consistency risk
Donation receipts, the audit report, and ITR-7 all reflect the same figures. Mismatches surface to the department almost automatically and can even cost donors their 80G deduction.

This session directly addresses the errors — wrong form selection, bad sequencing, mismatched figures — that carry real financial and legal consequences for clients this filing season.

About the Speaker:

CA. Sashank Srivatsan S, BCom, LLB(Hons.), FCA is a Chartered Accountant in Practice for the last 6 years who has exposure in various Taxation and Audit and Assurance Engagement. He is a co-opted member in Accounting Standards Board of ICAI for the years 2023-24 and 2024-25. He was also a co-opted member in the Expert Advisory Committee of ICAI. He was part of the Task force of ICAI representing the Ministry of Finance and Central Board of Direct Taxes and Infosys for resolving Income Tax E-filing Portal 2.0 Errors : he was the representative from Southern India Regional Council of ICAI. HE is currently a member of the Committee for International Taxation.

He has also assisted various authors in publication of Books in relation to Accounting and Taxation including Padhuka's Publication for the last 2 years. He is also a speaker for various Continuous Professional Education (CPE) Programmes conducted by ICAI on Accounting Standards, Indian Accounting Standards and Income Tax. His areas of specialisation are taxation, accounting standards, bank audits & financial reporting.