Income Tax : The Tribunal held that income is taxable in the year it accrues, not in the year TDS is deducted by the payer, rejecting addition ...
Income Tax : Understand key provisions of advance tax under the Income Tax Act — who is liable, due dates, revision of estimates, payment pro...
Income Tax : What is an ITR? Learn about the different ITR forms (SAHAJ, SUGAM), who is eligible for each, the modes of electronic and manual f...
Income Tax : Understand the fundamentals of Indian Income-tax: its definition under the Income-tax Act, 1961, the administrative role of the CB...
Income Tax : This article simplifies important terms like assessee, assessment year, advance tax, and capital asset—essential for anyone lear...
Income Tax : All Odisha Tax Advocates Association requests due date extensions for AY 2025-26 ITRs and Tax Audit Reports citing portal glitches...
Income Tax : The Tax Bar Association of Bhilwara requests an extension for the FY 2024-25 income tax return and audit report deadlines, citing ...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
Goods and Services Tax : Bikaner Tax Consultants Association seeks an extension of the Income Tax Return filing deadline due to ITD portal glitches and iss...
Income Tax : ICAI addresses issues with Form 26AS/TIS/AIS and ITR filing glitches, urging CBDT for timely resolution to aid taxpayers in meetin...
Income Tax : The Tribunal condoned an 86-day delay in filing the appeal, accepting the assessee’s unavoidable family issues as a reasonable c...
Income Tax : The Tribunal held that TDS credit cannot be restricted solely due to differences between reported turnover and Form 26AS if the as...
Income Tax : ITAT Chennai held that addition under section 68 of the Income Tax Act rightly deleted by CIT(A) since cash deposit during demonet...
Income Tax : ITAT Pune ruled that the CPC erred in restricting TDS credit for a cooperative society based on a turnover mismatch in Form 26AS. ...
Income Tax : ITAT Amritsar condoned the 146-day delay in a senior citizen's appeal, accepting passport evidence of her absence from India as su...
Income Tax : ADVISORY NO.: 45 Dated:- 14.07.2022 0/o PCDA(0) Pune, Public Relation office (PRO) Subject: Income Tax Demand Notice under section...
Income Tax : CBDT authorizes Director General of Income-tax (Systems) to upload information relating to Foreign remittance information reported...
Service Tax : Representations have been received from various trade bodies and associations regarding instances of indiscriminate issuance of de...
Income Tax : Director-General of Income-tax (Systems) to upload information relating to GST return, which is in his possession, in the Annual I...
Income Tax : The new Form 26AS is the faceless hand-holding of the taxpayers to e-file their income tax returns quickly and correctly. From thi...
The Tribunal held that income is taxable in the year it accrues, not in the year TDS is deducted by the payer, rejecting addition based solely on Form 26AS.
The Tribunal condoned an 86-day delay in filing the appeal, accepting the assessee’s unavoidable family issues as a reasonable cause. This confirms that genuine reasons can justify late appeals under tax law.
The Tribunal held that TDS credit cannot be restricted solely due to differences between reported turnover and Form 26AS if the assessee has correctly offered the income for tax. The appeal was allowed, directing the AO to grant full TDS credit.
ITAT Chennai held that addition under section 68 of the Income Tax Act rightly deleted by CIT(A) since cash deposit during demonetization duly reflected as cash sales and there was no abnormal spike in sales during demonetization.
Understand key provisions of advance tax under the Income Tax Act — who is liable, due dates, revision of estimates, payment procedure, capital gains treatment, TDS credit, Form 28A requirements, and computation rules.
ITAT Pune ruled that the CPC erred in restricting TDS credit for a cooperative society based on a turnover mismatch in Form 26AS. The difference was due to the same sale being subjected to double TDS under both Section 194-O and Section 194-Q, wrongly inflating the receipts and TDS entries.
What is an ITR? Learn about the different ITR forms (SAHAJ, SUGAM), who is eligible for each, the modes of electronic and manual filing, the importance of filing by the due date to avoid penalties, and the process for claiming a tax refund.
Understand the fundamentals of Indian Income-tax: its definition under the Income-tax Act, 1961, the administrative role of the CBDT, the concept of Previous Year vs. Assessment Year, tax collection methods (TDS, Advance Tax), and the distinction between taxable and exempt income.
ITAT Amritsar condoned the 146-day delay in a senior citizen’s appeal, accepting passport evidence of her absence from India as sufficient cause, and remanded the case for fresh assessment.
The Allahabad High Court, in U.P. Rajya Nirman Sahakari Sangh Limited vs Union of India, quashed a tax recovery notice, holding that an assessee must be given credit for Tax Deducted at Source (TDS) if they provide valid Form 16A certificates, even if the amount is not reflected in Form 26AS.
