Income Tax : Stay updated with the latest TDS compliance under Section 192 of the I.T. Act, emphasizing the importance of Form 12BB for employe...
Income Tax : Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Ea...
Income Tax : Gain a comprehensive understanding of Tax Deducted At Source (TDS) provisions under the Income Tax Act, 1961. Explore key sections...
Income Tax : Explore Section 192 of the Income Tax Act, 1961, outlining TDS on Salary. Understand the definition of salary, permissible deducti...
Income Tax : Section 192 of the Income Tax Act, 1961 is applicable to all employers who are responsible for deducting tax at source from the sa...
Income Tax : Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed n...
Income Tax : Understand the grounds of appeal in the case against the final assessment order under the Income Tax Act, 1961, for AY 2017-18, in...
Income Tax : ITAT Delhi held that TDS is required to be deducted under section 192 of the Income Tax Act on the reimbursement of LTC (Leave Tra...
Income Tax : In Ajit Chandrashekar Dighe Vs DCIT (ITAT Mumbai), learn about the importance of substantiating Form 26AS or Form 16 for claiming ...
Income Tax : ITAT Mumbai held that consideration for sale distribution or exhibition of cinematographic films would not fall under the domain o...
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 ...
CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees regarding their intended Tax Regime (Old or New under section 115BAC) and deduct TDS accordingly, If intimation is not made by an employee then his default tax regime is new Income Tax regime u/s 115BAC. CBDT […]
A Salaried Employee’s Tax Proof Certificate Form 16 to Auto Calculate and Auto Preparation Excel Based Master of Form 16 for the F.Y.2022-23 and A.Y.2023-24 Download from the attached file as Auto Calculate and Automatic Preparation Master of Form 16 Part B for the Financial Year 2022-23 and Assessment Year 2023-24(This Excel utility can prepare […]
alleged default towards non deduction of TDS from payments made to Guest faculties with reference to Section 194J of the Income Tax Act, 1961
Indofil Industries Limited Vs CIT (ITAT Mumbai) ITAT Mumbai held that assessee is liable to deduct tax at source in respect of commission expenses payable to the whole time directors under section 192 of the Income Tax Act only, as the same shall form part of their salary payment only. Facts- The assessee company is […]
DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2022-23
CIT TDS Vs Mewar Hospital Pvt Ltd (Rajasthan High Court) Before proceeding with the matter, it will not be out of place to mention that the assessee is running a hospital within State of Rajasthan and they have entered agreement with three different doctors. The question which came up for our consideration is whether benefit […]
Understand the tax implications of benefits and perquisites received by residents in India. Learn about the reasons behind the introduction of section 194R of the ITA 1961.
Delhi High Court held that section 195 of the Act has no application once the nature of payment is determined as salary and deduction has been made under Section 192 of the Act.
TDS on salary income of a non-resident individual shall be deducted u/s 192 of the Income Tax Act, 1961 at the applicable slab rates. Tax liability for the whole year shall be calculated on the prospective salary income of the non-resident and such determined tax shall be then deducted from the payment to be made of salary, in twelve monthly installments.
Salary of accountant cannot be treated as professional service for managing books of two firms to invoke TDS under section 194J
