Income Tax : The form ensures taxability of payments to non-residents is properly determined. Filing is required before remittance. The takeawa...
CA, CS, CMA : SC ruled that providing a Form 15CB certificate is a tax-compliance function, not a criminal act. Without proof of knowing assista...
Income Tax : Learn about Tax Deducted at Source (TDS), its purpose, scope, and the applicable deduction rates for FY 2025-26 under various sect...
Income Tax : 1. Introduction In an increasingly globalized economy, cross-border transactions have become commonplace. To ensure tax compliance...
Income Tax : Dive into the essentials of Form 15CA & 15CB, requirements, penalties for non-compliance, and exemptions. Learn how to ensure tax ...
Income Tax : A large extent of pendency for updation of 15 CB forms at e-filing portal may be attributed to non-availability of any options fo...
Income Tax : Guidance on uploading of Manually submitted Form 15CA and Form 15CB with Authorised Dealers between 7th June to 15th August 2021 i...
Income Tax : We are listing around 38 issues in portal and this is the beginning only because still we are working on preliminary aspects and f...
Income Tax : fter launching of the website by the Income Tax Department on 07th day of June, 2021 the members are facing the problems as discus...
Income Tax : As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the ...
CA, CS, CMA : The Supreme Court refused to interfere with a High Court order discharging an accused in a money laundering case. The ruling confi...
CA, CS, CMA : The Court found no grounds to interfere with the Madras High Court’s decision dated 08.08.2024 and dismissed all pending applica...
Income Tax : The ITAT ruled that the AO and CIT(A) erred by mechanically raising a default demand simply because commission was paid to a non-r...
Income Tax : Madras HC discharges auditor Murali Krishna Chakrala in money laundering case linked to bogus imports, citing lack of direct invol...
Income Tax : Assessee was engaged in the business of manufacturing of diamond by cutting and polishing of rough diamond and sale thereof. Durin...
CA, CS, CMA : ICAI removes CA Mohandas Belle Shetty from membership for a year over certification of Form 15CB without due diligence, causing fi...
Income Tax : As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the ...
Income Tax : In view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal www.incometax.g...
Income Tax : Notification No. 93/2015 - Income Tax G.S.R. 978(E) dated 16th December, 2015 A CA certificate in Form No. 15CB will be required t...
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.
The Supreme Court refused to interfere with a High Court order discharging an accused in a money laundering case. The ruling confirms that no grounds were made out to disturb the High Court’s assessment of the limited role attributed.
SC ruled that providing a Form 15CB certificate is a tax-compliance function, not a criminal act. Without proof of knowing assistance, CAs cannot be dragged into PMLA proceedings.
The Court found no grounds to interfere with the Madras High Court’s decision dated 08.08.2024 and dismissed all pending applications, affirming judicial consistency.
Learn about Tax Deducted at Source (TDS), its purpose, scope, and the applicable deduction rates for FY 2025-26 under various sections for residents, non-residents, and companies.
The ITAT ruled that the AO and CIT(A) erred by mechanically raising a default demand simply because commission was paid to a non-resident. The Tribunal stressed that full compliance evidence (Form 15CB, Form 27Q, DTAA analysis) must be examined before classifying the assessee as a defaulter.
1. Introduction In an increasingly globalized economy, cross-border transactions have become commonplace. To ensure tax compliance and prevent tax evasion, the Indian Income Tax Department mandates the filing of Form 15CA and Form 15CB for certain foreign remittances. These forms serve as a mechanism for the government to track payments made to non-residents and ensure that appropriate taxes are […]
Madras HC discharges auditor Murali Krishna Chakrala in money laundering case linked to bogus imports, citing lack of direct involvement and cooperation with ED.
Assessee was engaged in the business of manufacturing of diamond by cutting and polishing of rough diamond and sale thereof. During assessment, Assessing Officer noted that assessee has made 20 transactions of foreign remittance.
ITAT Kolkata ruled that TDS under section 195 is not required for foreign commission payments and liquidated damages are capital receipts, not taxable income.
