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...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for June 2026. It highlights filing requirements under income ta...
Income Tax : The guide explains Sections 206AA and 206AB, detailing higher TDS consequences for non-furnishing of PAN and return-filing default...
Income Tax : Section 194-IA requires buyers of immovable property to deduct TDS at 1% when the sale consideration or stamp duty value is ₹50 ...
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 case examined whether contract receipts reflected in Form 26AS but not disclosed as income could be taxed. The Tribunal upheld the addition, ruling that failure to report such receipts in any year makes them taxable in the year of receipt.
Section 194T mandates TDS on partner payments with a strict April 30 deadline for March deductions. Missing it can lead to interest and expense disallowance.
Learn the key technical and operational hurdles in TDS/TCS compliance, including FVU errors and defaults. The article highlights practical solutions for error-free filing.
The tribunal held that claiming TDS credit creates presumption of income in the assessee’s hands. The key takeaway is that TDS benefit must be explained or it becomes taxable.
The tribunal held that failure to consider relevant documents denied proper adjudication. It set aside the orders and allowed fresh examination of compliance evidence.
Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key takeaway is that proper documentation ensures compliance and prevents unnecessary tax deduction.
A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal highlights improved efficiency, accuracy, and centralized monitoring.
The Tribunal held that receipts from sponsorship and royalty were incidental to the promotion of sports. It ruled that absence of profit motive prevented application of the proviso to section 2(15), allowing exemption under sections 11 and 12.
The new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but compliance requires system updates.
Karnataka High Court flags catch-22 in TDS prosecution of ex-MD post-liquidation; directs Official Liquidator to act on representation, grants interim protection, remedy lies under Sec 260A.
