Income Tax : Learn how Form 121 helps eligible taxpayers stop TDS on bank interest. The key is ensuring your estimated tax liability is nil and...
Income Tax : The new Form 121 merges earlier forms into a single declaration system for TDS exemption. It simplifies compliance while ensuring ...
Income Tax : A clear breakdown of when TDS applies to life insurance payments, threshold limits, rates, exemptions, and how income is computed ...
Income Tax : Tax not deducted if Form 15G or 15H filed by eligible individuals. Explains filing process, UIN generation, reporting, and 7-year ...
Income Tax : Understand Form 15G & 15H for no TDS on interest. Learn who should file, deadlines, online submission, and penalty details....
Income Tax : ITAT Chandigarh deleted a ₹7.48 lakh tax demand against Punjab National Bank for assessment year 2016-17 finding that submitted ...
Income Tax : The ITAT Nagpur overturned an income tax disallowance in Ghalani's case due to late filing of Form 15G/H, citing valid legal groun...
Income Tax : In a case between Salem Urban Co-op Bank Ltd. and the Income Tax Officer, Madras High Court allows appeal, permitting waiver of 10...
Income Tax : Analysis of ITAT Ahmedabad's decision in Unity Dye Chem Pvt. Ltd. vs CIT case. Penalty under section 271C not applicable if TDS no...
Income Tax : ITAT Chennai held that non-deduction of TDS and reversal of TDS deduction on interest payment on the basis of declaration in Form ...
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 : Further, on payments to Non-residents (including foreign companies) having Permanent Establishment in India, where the above appli...
Income Tax : To mitigate the hardships of small taxpayers, it has been decided that if a person had submitted valid Forms 15G and 15H to the Ba...
Income Tax : Representations have been received for clarification on the issue as to whether a depositor should submit only one declaration in...
Income Tax : Representations have been received with the request for extension of due date for uploading of Form 15G/15H received during the pe...
The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance while ensuring stricter reporting and digital tracking requirements.
Learn how Form 121 helps eligible taxpayers stop TDS on bank interest. The key is ensuring your estimated tax liability is nil and conditions are satisfied.
The new Form 121 merges earlier forms into a single declaration system for TDS exemption. It simplifies compliance while ensuring accurate reporting through digital processes and UIN tracking.
A clear breakdown of when TDS applies to life insurance payments, threshold limits, rates, exemptions, and how income is computed for taxable policies. Key takeaway: Only the income portion of non-exempt payouts is subject to TDS.
Tax not deducted if Form 15G or 15H filed by eligible individuals. Explains filing process, UIN generation, reporting, and 7-year retention rule.
ITAT Chandigarh deleted a ₹7.48 lakh tax demand against Punjab National Bank for assessment year 2016-17 finding that submitted Form 15G/15H documents were valid.
Understand Form 15G & 15H for no TDS on interest. Learn who should file, deadlines, online submission, and penalty details.
The ITAT Nagpur overturned an income tax disallowance in Ghalani’s case due to late filing of Form 15G/H, citing valid legal grounds.
In a case between Salem Urban Co-op Bank Ltd. and the Income Tax Officer, Madras High Court allows appeal, permitting waiver of 10% pre-deposit amid financial hardship.
Analysis of ITAT Ahmedabad’s decision in Unity Dye Chem Pvt. Ltd. vs CIT case. Penalty under section 271C not applicable if TDS non-deduction supported by Form 15G/H.
