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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
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 : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
Form 150 allows collectors to avoid being treated as assessees in default when tax is not collected but paid by the collectee. It ensures that liability aligns with actual tax payment while preventing double recovery.
The issue concerns failure to deduct TDS by the payer. Relief is granted when the deductee has already paid tax on such income. The key takeaway is that tax payment by deductee protects the deductor from default status.
Form 148 introduces a compulsory quarterly filing requirement for IFSC units reporting all remittances to non-residents. The key takeaway is that compliance is mandatory regardless of taxability.
Form 147 mandates quarterly reporting of foreign remittances by authorised dealers, with strict compliance requirements and penalties for delays. The updated form enhances transparency through data linkage, enabling better tax verification and risk profiling.
The form ensures taxability of payments to non-residents is properly determined. Filing is required before remittance. The takeaway is pre-condition for lawful foreign payments.
Form 145 must be filed before making payments to non-residents. The ruling ensures prior reporting and proper TDS compliance. This strengthens monitoring of cross-border transactions.
The case explains mandatory filing of quarterly TDS statements for non-salary payments to non-residents. The rules require timely electronic submission to ensure accurate tax credit and avoid penalties. The key takeaway is strict compliance with deadlines and reporting requirements.
Form 143 under the Income-tax Act, 2025 is a mandatory quarterly statement filed by collectors to report tax collected at source (TCS) on specified transactions such as sale of goods, scrap, liquor, tendu leaves, foreign remittances, and tour packages. Replacing the earlier Form 27EQ, it must be filed electronically within prescribed quarterly due dates. The […]
Exchanges must deposit complete tax before filing the statement. Partial payment renders filing invalid. The takeaway is complete tax compliance is a prerequisite.
Form 141 consolidates earlier challan-cum-statements into a single form for various TDS transactions. It simplifies reporting and payment while ensuring accurate compliance. The key takeaway is streamlined filing with schedule-based reporting.
