Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...
Income Tax : This comprehensive FAQ guide explains the basics of income tax, including taxable income, previous year, assessment year, tax paym...
Goods and Services Tax : The article questions the use of Section 74 for mere reconciliation differences between Form 26AS and GSTR-1. The key takeaway is ...
Income Tax : Recent ITAT rulings clarify that presumptive taxation depends on statutory classification under the Income Tax Act. The key takeaw...
Income Tax : ITR-1 has evolved from a self-declaration return to a data-reconciliation exercise backed by AIS, TIS, and Form 26AS. Salaried tax...
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...
Service Tax : The Gauhati High Court held that a service tax demand based only on Form 26AS, without examining the nature of services or taxabil...
Income Tax : ITAT Delhi held that professional fees claimed for raising working capital limits could not be fully allowed as the taxpayer faile...
Service Tax : The service tax demand arose from differences between income tax records and ST-3 returns. The Tribunal ruled that Form 26AS, whic...
Income Tax : The Delhi High Court held that RTI replies showing tax return filings and bank entries did not establish that specific payments we...
Income Tax : Mumbai ITAT held that once receipts reflected in Form 26AS are assessed as taxable income, corresponding TDS credit cannot be deni...
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 ruled that TDS credit can be granted even if not fully reflected in Form 26AS, subject to verification. The deductee should not be penalized for the deductor’s failure to deposit tax.
The Tribunal admitted additional evidence where TDS credit was denied because it appeared in a different assessment year’s Form 26AS. The matter was remanded to the Assessing Officer to verify documents and allow credit as per law.
The Assessing Officer treated all cash deposits as unexplained income under Section 115BBE. The Tribunal held that deposits prima facie represented IOC sales and required factual verification before any addition.
The dispute concerned denial of TDS credit citing inconsistencies in reported transaction values. The ruling clarified that Form 26AS is decisive for TDS credit when deduction and deposit are undisputed.
The ITAT held that income addition based solely on Form 26AS differences cannot survive when books are audited and no defects are found.
Courts have held that once TDS is deducted from salary, the employee cannot be asked to pay tax again merely because the employer failed to deposit it. Recovery must be pursued only against the employer.
The article explains how AIS-based data matching is triggering tax notices despite Form 26AS matching. The key takeaway is that AIS now drives scrutiny and compliance.
ITAT held that share capital additions cannot rest on an inspector’s report not shared with the assessee. Matter remanded for fresh examination in line with natural justice.
The issue involved taxing a marginal valuation difference on property purchase. The Tribunal deleted the addition as the variation was below the statutory tolerance threshold. The decision confirms that minor deviations alone cannot be treated as taxable income.
Interest was disallowed solely because the payee had not declared it. The Tribunal relied on Form 26AS showing payment and TDS to allow the claim. The ruling underscores documentary evidence over conjecture.
