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Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
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 : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Rule 225 prescribes a comprehensive framework for recovery of tax arrears, covering attachment, sale, arrest, appeals, and time limits to ensure legally structured enforcement.
Rules 221 to 224 specify mandatory forms for accountant certificates, notice of demand, advance tax estimates, and recovery statements to standardize compliance under the Income-tax Act.
Rule 220 requires structured filing of Form 145 for payments to non-residents, prescribes exemptions for specified remittances, and mandates quarterly reporting by authorised dealers and IFSC units.
Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transactions, and refund claims in Form 139 to streamline TDS/TCS reporting.
Rule 218 prescribes clear due dates, challan-cum-statement requirements, quarterly payment options, and electronic remittance procedures for TDS/TCS deposits.
Rules 216–217 mandate Forms 134/135 for TAN allotment with strict timelines and provide relief from higher TDS for non-residents without PAN, subject to prescribed documentation.
Rule 214 enables payers to seek a certificate in Form 129 for determining the taxable proportion of sums paid to non-residents, ensuring accurate TDS compliance under domestic law and DTAA.
Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificates, with strict eligibility and compliance safeguards.
Rules 210–211 provide no TDS on specified UTI unit income of non-residents and prescribe Form 121 with UIN tracking to ensure transparent declaration-based tax compliance.
Rule 209 allows eligible branches of foreign banks, insurers, and other entities to apply in Form 126 for a certificate authorising receipt of specified income without TDS, subject to strict compliance conditions.
