Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
Income Tax : Section 194N requires banks, co-operative banks and post offices to deduct TDS on cash withdrawals above prescribed limits, with h...
Income Tax : Resident individuals, eligible non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form ...
Income Tax : The new Income Tax Act largely retains existing TDS rules on property transactions but significantly simplifies compliance for buy...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : Income Tax India, through its X account post dated 30.03.2026, has clarified the applicability of tax deduction at source (TDS) on...
Income Tax : Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transaction...
Income Tax : Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificate...
Income Tax : ITAT Kolkata held that TDS under Section 194C was not required on materials purchased for installation work. The disallowance unde...
Corporate Law : The Court held that TDS certificates and income tax filings established a prima facie jural relationship between the parties. It g...
Income Tax : he Tribunal held that accepted on-money receipts from earlier years could partly explain cash deposits made during the demonetisat...
Income Tax : The Court held that compensation paid to workmen under a Government-approved closure package was exempt under the second proviso t...
Income Tax : The ITAT Bangalore held that disallowance under Section 40(a)(i) could not survive once the recipient of the income settled the ta...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Income Tax : The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enh...
Income Tax : The issue involved delay in issuing TDS certificates due to technical issues. The Board extended the deadline to provide relief. T...
Goods and Services Tax : The advisory explains that registrations will be automatically suspended if bank account details are not furnished within 30 days....
The Karnataka High Court set aside a service tax order after observing that the authority failed to properly examine exemption claims under Notification No.25/2012-ST. The matter was remanded for fresh consideration from the stage of reply to the show cause notice.
The Court ruled that claimants could initiate execution proceedings and continue receiving interest if the agreed compensation was not disbursed within the stipulated period under the mediation agreement.
Karnataka High Court directed that compensation paid under a mediated land acquisition settlement must be released without deduction of TDS. The ruling relied on an earlier High Court decision concerning compulsory acquisition compensation.
The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepancies in ITR filings. Mismatches between AIS, Form 26AS, bank records, and ITR disclosures may lead to scrutiny or notices.
The Tribunal ruled that a flat 15% profit estimation was excessive where all contract receipts were received through banking channels with TDS deductions. It directed recomputation of income at 7% of turnover.
High Court reiterated that compensation awarded for compulsory land acquisition is not liable to deduction of tax at source under Income Tax Act. Payments under mediation settlement were directed to be released without TDS deduction.
Bombay High Court upheld deletion of disallowance under Section 40(a)(ia) where there was only short deduction of TDS and the recipients had already paid taxes. The Court also reiterated that the second proviso to Section 40(a)(ia) operates retrospectively from 01.04.2005.
The Tribunal ruled that the limitation period for appeal commenced only when the assessee first received the ITBA screenshot revealing the basis of the outstanding demand.
Bombay High Court held that short deduction of TDS under a different provision does not trigger disallowance under Section 40(a)(ia). Court ruled that only cases of non-deduction or non-payment of TDS attract provision.
Mumbai ITAT ruled that transfer of professional fees between branches through journal entries did not attract TDS liability. The Tribunal accepted ICAI records confirming the existence of the Ahmedabad branch.
