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Income Tax : Advertising payments on Google Ads attract 2% TDS under Section 194C of the Income Tax Act. Businesses must deposit the tax separa...
Income Tax : Budget 2026 proposes reducing the stay-of-demand deposit from 20% to 10% of core tax demand under Section 220(6), offering relief ...
Income Tax : ESOPs are taxed twice under Indian tax law—first as salary at the time of exercise and later as capital gains when shares are so...
Income Tax : Income from transfer of cryptocurrencies, NFTs, and other virtual digital assets is taxed at a flat 30% rate under Indian tax law....
Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : The Income Tax Department conducted surveys across multiple cities after AI analysis revealed significant discrepancies between tr...
Income Tax : Rules 307–311 of the Draft Income-tax Rules, 2026 outline how pension funds must purchase annuities, restrict commutation, preve...
Income Tax : Draft Income-tax Rules 2026 prescribe definitions, trust conditions, investment rules, and limits on employer contributions for ap...
Income Tax : Draft Income-tax Rules 2026 outline procedures for provident fund recognition, penalties for assigning PF interest, and tax treatm...
Income Tax : Draft Income-tax Rules 2026 require provident fund nominations to favour family members and mandate annual account reporting by tr...
Income Tax : ITAT Delhi held that Oracle India Private Limited is an independent legal entity and existence of Oracle India Private Limited can...
Income Tax : ITAT held that the appellate authority wrongly dismissed the appeal under Section 249(4)(b) as there was no advance tax liability ...
Income Tax : The High Court set aside the provisional attachment of property under the Income Tax Act after finding no tangible material showin...
Income Tax : The court refused bail after noting allegations that employee provident funds were invested in a private financial institution in ...
Income Tax : ITAT Delhi deleted additions under Sections 68 and 69C after finding that the assessee received and repaid loans through banking c...
Income Tax : The notification expands reporting rules to include central bank digital currencies, electronic money products and relevant crypto...
Income Tax : The Central Government has approved a Chennai-based higher education trust for scientific research under Section 35(1)(ii) for AY ...
Income Tax : Explains the CBDT notification granting section 10(46) exemption to a district legal services authority and the categories of inco...
Income Tax : CBDT directs adjournments in court and ITAT cases as Finance Bill 2026 proposes clarificatory amendments to key Income Tax Act pro...
Income Tax : Summary of the Finance Bill, 2026 outlining income-tax rates, surcharge structure, threshold relief, amendments across direct and ...
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.
Rules 207–208 mandate telegraphic transfer buying rate for foreign currency TDS and introduce Form 125 for specified senior citizens to enable proper tax deduction by banks.
Rule 206 mandates use of the telegraphic transfer buying rate with defined specified dates for different income heads to ensure uniform foreign currency conversion into rupees.
