Income Tax : The Tribunal held that TDS entries appearing in Form 26AS are sufficient material for reopening assessments when no return is file...
Income Tax : Courts have held that once TDS is deducted from salary, the employee cannot be asked to pay tax again merely because the employer ...
Income Tax : The article explains how AIS-based data matching is triggering tax notices despite Form 26AS matching. The key takeaway is that AI...
Income Tax : Form 26AS helps taxpayers verify TDS, taxes paid, and refunds before filing returns. Matching it with your records reduces errors ...
Income Tax : The courts confirm that once tax is deducted at source, recovery from the employee is barred by law, and the employer alone is res...
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 assessee claimed that amounts deposited in bank accounts were retailer collections remitted to the telecom company and not com...
Income Tax : ITAT Indore set aside the appellate order denying TDS credit after the assessee produced Form 16A and Form 26AS showing deduction ...
Income Tax : The Tribunal upheld reopening under Section 147 as Form 26AS reflected substantial contract receipts despite no return being filed...
Goods and Services Tax : High Court held that receipts reflected in Form 26AS cannot automatically be treated as taxable services. Tax liability must first...
Income Tax : The Tribunal held that TDS credit cannot be denied merely because it does not appear under the assessee’s PAN. It ruled that the...
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...
ITAT Chennai held that strict conditions provided in Rule 37BA should be read in the provisions of Section 199(1) to make it workable in genuine cases where department is sure no double credit is allowed or claimed.
ITAT Mumbai held that as no claim of the amount of exempted allowance was made in the return of income, the same cannot be rectified as there was no mistake apparent from record in order passed u/s 143(1)(a) of the Income Tax Act.
Assessee was entitled to claim interest on delayed refund must be payable from the date of deposit till the date of payment.
Understand the significance of Annual Information System (AIS), Taxpayer Information Summary (TIS), and Form 26AS in income tax. Learn how these tools help taxpayers ensure accurate reporting, avoid discrepancies, and stay compliant with tax laws. Accessing AIS and TIS statements online through the Income Tax Department’s portal is essential for maintaining transparency, resolving discrepancies, and avoiding potential issues with tax authorities. Regular monitoring of AIS and TIS statements is crucial for taxpayers in India.
ITAT Delhi held that as per partnership deep, partners shall be entitled to interest on their loan accounts with the firm at the prescribed rates, hence disallowance of the same is unjustified.
Section 199 of Income-tax Act r.w. rule 37BA(3) provide that credit of TDS shall be given for assessment year for which income is assessable
Assessing Officer cannot accept the income for tax purpose and refuse to allow credit of corresponding TDS. Both must go hand in hand.
ITAT Delhi held that disallowances of expenditure on ad hoc basis without specifying particular mistake is untenable and bad in law.
ITAT Mumbai held that income earned from offshore supply of escalators and elevators is not taxable in India as assesse didn’t carried out any operations in India.
Discover surprising elements in your Annual Information Statement (AIS) for Income Tax. Understand the AIS categories, transactions, and how to access, denying incorrect information. Stay informed for accurate income tax filing.
