"I"
The article explains that individual tenants paying rent above ₹50,000 per month must deduct TDS at 2% under Section 194-IB. It highlights compliance procedures, filing requirements, and consequences of non-deduction or delayed payment.
The Tribunal held that TDS entries appearing in Form 26AS are sufficient material for reopening assessments when no return is filed. The ruling emphasizes that taxpayers must reconcile Form 26AS with books and returns to avoid reassessment proceedings.
ITAT Kolkata remands case on disallowance of subcontractor expenses, stressing need for evidence, due diligence, and verification of transactions.
The Tribunal held that advances received under an uncompleted sale agreement are not taxable. Income arises only when transfer or forfeiture occurs.
Courts held that investment in under-construction property qualifies as construction under Sections 54/54F. Deduction cannot be denied if investment is completed within the prescribed period, even if started earlier.
Courts held that exemption cannot be denied merely due to lack of registration if possession and substantial payment are proven. The ruling emphasizes substance over procedural formalities.
ITAT held spousal gift taxable under Section 68 due to lack of evidence on genuineness, bank trail, and donor capacity despite Section 56 exemption.
The case clarifies that capital gains tax arises upon execution of a registered sale deed, even if payment is not received. It highlights that the right to receive consideration is sufficient to trigger tax liability.
The Income-tax Act, 2025 introduces Form 141 to replace Form 26QB from April 2026. The change aims to reduce reporting mistakes and simplify TDS compliance in property transactions.
Budget 2026 restricts capital gains exemption on SGB redemption to original subscribers only. Secondary market investors redeeming after 1 April 2026 will now face capital gains tax.
