Income Tax : Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment proces...
Income Tax : Prepare for the Income Tax Season amidst the rainy season with these essential tips. Ensure timely filing and accuracy in your ITR...
Income Tax : Discover the intricacies of Income Tax Returns (ITR) in India, from types of forms to required documents and compliance measures, ...
Income Tax : Verify your Form 26AS before filing your ITR for FY 23-24. Ensure accurate TDS and avoid discrepancies for a smooth tax return pro...
Income Tax : Unsure whether to file your income tax return now or wait? Learn why waiting until mid-June may be beneficial, considering TDS ret...
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 : Directorate of Income Tax (Systems) has released Handbook on Annual Information Statement (AIS). This will explain How the new For...
Goods and Services Tax : There is a great necessity of Integration of Income E-filing Portal with GST portal. The step taken by Central Government with res...
Income Tax : The Form 26AS displays the various taxes deducted/paid on individual’s income from/through various sources. It includes deta...
Income Tax : Improved Form 26AS will contain details of taxpayers’ high valued transactions Filing income tax returns could get even more eas...
Income Tax : Explore ITAT Mumbai's verdict granting deduction under Section 80P(2)(d) to Grand Paradi Co-op Housing Society, clarifying co-op b...
Income Tax : Read the detailed judgment of Suman Devi Vs ITO by Rajasthan High Court allowing condonation of ITR delay under Section 119(2)(b) ...
Service Tax : CESTAT Delhi rules service tax exemption for providing vehicles on hire to GTA. Detailed analysis of the Manak Chand Agarwal vs CG...
Income Tax : Understand the implications of the Parulben Vijaykumar Patel vs ITO case from ITAT Ahmedabad. Detailed analysis and conclusion pro...
Income Tax : In Bal Krishan Das Mundhra Vs ITO case, ITAT Kolkata permits deduction of Rs. 34.2 lakhs under section 57 of Income Tax Act as tax...
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...
Form 26AS Can Be Verified And Seen By Different Modes As Below:- Through Logging in at e-filing portal. ♦ Login to e-filing portal at www.incometaxindiaefiling.gov.in ♦ Go to ‘my account’. ♦ View ‘Form 26AS (Tax Credit)’. ♦ Confirm to redirect to “TDS TRACES CPC’ website. ♦ Click on “View Tax Credit (Form 26AS)’ ♦ Select […]
In order to promote transparency and simplifying the tax return filing process, CBDT vide Notification dated May 28, 2020 has amended Form 26AS vide Sec 285BB of Income Tax Act, 1961 r.w.r.114-I of Income Tax Rules, 1962 w.e.f. 01.06.2020. The new Form 26AS is an Annual Information Statement or AIS which will provide a complete […]
(A) The possible reasons for no credit of TDS/TCS being displayed in your Form 26AS: 1. Deductor/collector has not filed his TDS/TCS statement; 2. You have not provided PAN to the deductor/ collector; 3. You have provided incorrect PAN to the deductor/ collector; 4. The deductor/collector has made an error in quoting your PAN in […]
ITAT held that the Assessing Officer cannot make additions merely by relying on information available in TDS Certificate i.e. Form 26AS on account of mismatch of amounts between Form 26AS and the turnover shown by the assessee in its P&L account.
Buying property is dream come true for buyers. Every person wants to earn and purchase property which he or she can own in his or his family members and loved one name. Buyers invests his hard-earned money in buying property and many a times land up in difficult situation because everyone knows that tax is […]
There is a great necessity of Integration of Income E-filing Portal with GST portal. The step taken by Central Government with respect to linking and integrating E-filing portal with GST portal is one of the most welcoming step towards the growth of tax revenue of Central Government which will ultimately lead to growth of economy, […]
1. Recently (mainly December 2020) spate of show-cause notices (SCN) have been issued seeking to demand the service tax on the differential amounts as determined based on the values reported in the service tax returns (nil if not filed) and the values reported in Form 26AS filed under the Income Tax Act reflecting the TDS […]
The Form 26AS displays the various taxes deducted/paid on individual’s income from/through various sources. It includes details of, ♦ Tax Deducted at Source (TDS) ♦ Tax Collected at Source (TCS) ♦ Advance Tax/ Self-Assessment Tax paid ♦ Regular Tax ♦ Tax Refund details for an Assessment Year, etc. Perform the following steps to view or […]
What is Form 26AS? ♦ Every individual or company that has deducted taxes must credit that amount to the government via banks. ♦ Form 26AS is an annual consolidated tax statement generated by the Income Tax Department. ♦ It can easily be accessed from the income-tax website by all taxpayers using their Permanent Account Number (PAN). […]
Recently, one of the major changes implemented in the Income Tax system. Now in Form 26AS, the Turnover as per GSTR-3B will be reported. Now, let’s discuss the implication of the same by going through some logical sequence. JOURNEY OF GSTR – 3B Originally, GSTR-3B was introduced as temporary replacement of GSTR–3. It was not […]
