Goods and Services Tax : This update highlights all major compliance due dates for April 2026 under Income Tax and GST laws. It helps taxpayers stay on tra...
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 : 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 : The Tribunal held that ESOP costs are employee compensation and qualify as revenue expenditure. Disallowance treating them as capi...
Income Tax : The tribunal held reopening invalid where actual escaped income was below ₹50 lakh. It clarified that jurisdiction depends on re...
Income Tax : ITAT Chandigarh upheld penalty under Section 271C as exemption under Section 10(5) applies only to travel within India, requiring ...
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 ...
Bombay High Court quashed reassessment proceedings initiated using data from a valid IDS declaration, holding that once accepted under the Income Disclosure Scheme, the Revenue cannot revisit or reassess the same income.
The ITAT ruled that Compulsorily Convertible Debentures (CCDs) legally remain debt until conversion, rejecting the Transfer Pricing Officers (TPO) re-characterization of them as equity. The Tribunal quashed the Nil Arm’s Length Price (ALP) for associated interest and remanded the matter for fresh benchmarking.
A summary of Tax Deducted at Source (TDS) rates under various sections of the Income-tax Act, 1961, covering payments to resident and non-resident individuals and companies.
New Income Tax Act 2025 retains key TDS rules for salary, PF, and superannuation; explains employer duties, employee declarations, and foreign salary taxation.
ITAT Mumbai ruled AO cannot override TPO’s ALP for SDTs, allowing full Section 80IA deduction for captive power sales. Confirms Vireet on 14A/115JB.
The ITAT Raipur ruled that the CIT(A) overstepped its jurisdiction by remanding a multi-crore TDS dispute involving SECL. The decision clarifies that a CIT(A) cannot remand cases that were not assessed under Section 144.
CESTAT Kolkata held that any salary paid to the Directors of the Company for the service rendered by him as an employee of the company, is outside the scope of service. Accordingly, demand of service tax is not sustainable.
The ITAT Kolkata ruled that an employee is entitled to full TDS credit even if their employer failed to deposit the tax. The ruling emphasizes that the remedy lies against the employer.
ITAT Bangalore held that SanDisk India [Western Digital India] is not a Dependent Agency Permanent Establishment [DAPE] of SanDisk Ireland and hence the assessee income is not chargeable to tax in India.
Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in India.
