Goods and Services Tax : The content addresses key statutory deadlines under income tax and GST laws for May 2026. It highlights due dates and compliance r...
Income Tax : A summary of Tax Deducted at Source (TDS) rates under various sections of the Income-tax Act, 1961, covering payments to resident ...
Income Tax : New Income Tax Act 2025 retains key TDS rules for salary, PF, and superannuation; explains employer duties, employee declarations,...
Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
Income Tax : Understand Section 194I for TDS on rent, including applicable rates, thresholds, and clarifications for various rent types. Stay i...
Income Tax : Learn about the proposed amendments to Section 192 of the Income-tax Act, allowing salaried employees to claim credit for TCS and ...
Income Tax : Tribunal ruled that compliance with judicial orders restraining deduction of tax at source cannot attract liability under Sections...
Income Tax : ITAT holds TDS applies on year-end provisions where payee, amount, and nature are identifiable—assessee treated in default u/s 2...
Income Tax : The Tribunal restored the case as the CIT(A) confirmed additions without granting adequate opportunity of hearing. It held that fa...
Income Tax : ITAT Mumbai rules actuarial provisions for employee benefit schemes are allowable under Section 37(1) as ascertained liabilities, ...
Income Tax : The Tribunal held that the assessee could not deduct tax due to binding interim directions of the High Court. As a result, it coul...
Income Tax : CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees r...
Income Tax : DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL...
Income Tax : CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source ...
Income Tax : Furnishing of evidence of claims by employee for deduction of tax under section 192 for the FY 2021-22 and AY 2022-23. (For Assess...
Income Tax : CBDT issued Income Tax Circular No. 20/2020 dated 03rd December 2020 which contains provision for TDS on Salary for the Financial ...
Tribunal ruled that compliance with judicial orders restraining deduction of tax at source cannot attract liability under Sections 201(1) and 201(1A) of the Income Tax Act.
ITAT holds TDS applies on year-end provisions where payee, amount, and nature are identifiable—assessee treated in default u/s 201. Relief allowed if payees paid tax; no TDS default on salary provisions as deduction arises on payment.
The content addresses key statutory deadlines under income tax and GST laws for May 2026. It highlights due dates and compliance requirements, emphasizing timely filing and payment to avoid penalties.
The Tribunal restored the case as the CIT(A) confirmed additions without granting adequate opportunity of hearing. It held that failure to consider explanations violates natural justice. Key takeaway: fair hearing is essential even in faceless assessments.
ITAT Mumbai rules actuarial provisions for employee benefit schemes are allowable under Section 37(1) as ascertained liabilities, deletes major disallowances on expense provisions, limits TDS applicability to payment stage, and prevents double taxation of expenses.
The Tribunal held that the assessee could not deduct tax due to binding interim directions of the High Court. As a result, it could not be treated as an assessee in default under Section 201.
The Tribunal held that ESOP costs are employee compensation and qualify as revenue expenditure. Disallowance treating them as capital expenditure was deleted.
The tribunal held reopening invalid where actual escaped income was below ₹50 lakh. It clarified that jurisdiction depends on real income, not transaction value.
ITAT Chandigarh upheld penalty under Section 271C as exemption under Section 10(5) applies only to travel within India, requiring TDS on foreign travel reimbursements.
ITAT ruled that exemption under Section 10(5) does not extend to foreign travel, following the binding Supreme Court decision. Consequently, non-deduction of TDS attracted penalty under Section 271C.
