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...
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.
ITAT Delhi held that AO cannot put the entire burden on the assessee to show in whose hands the inadvertent receipts shown in Form 26AS has been declared. Assessee is not responsible to explain the recipients of such inadvertent receipts shown in Form No. 26AS.
Learn what to do if the wrong assessment year is entered in an income tax challan. Understand the process for correction and adjustment of refunds.
Sanjay Sudan Vs ACIT (Delhi High Court) Delhi High Court held that deductee/ assessee cannot be called upon to pay tax, which is already deducted from his income as TDS. TDS not deposited by deductor cannot be set-off against refund amount payable to deductee. Facts- The petitioner was an employee of Kingfisher. The employer had […]
ITAT Pune held that credit for TDS is available in the year in which income is reported, credit of TDS cannot be deferred on the basis of reporting by the deductor.
Assessee failed to establish difference amount specified in Form 26AS and returns despite several opportunities – ITAT upheld addition
