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 ...
High Court held that the provisions of Section 194J applied to the retainer doctors and not those of Section 192.
Explore the updated Income Tax TDS Rate Chart for FY 2022-23 / AY 2023-24. Comprehensive guide covering TDS rates on various incomes as per the Income-tax Act. Stay informed to ensure accurate tax deductions.
CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source (TDS) on Salary or Income Tax Payable on Salary for the Financial Year 2021-22 / Assessment Year 2022-23. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES DEDUCTION […]
PCIT Vs Indofil Industries Limited (Bombay High Court) The issue herein is regarding disallowance under Section 40(a) (ia) of the said Act for amount of Rs.1,08,00,000/-. The Assessing Officer had noted that Respondent had made a provision for commission for the Chairman and the Managing Director (CMD) of the Company for Rs.1,08,00,000/- at the year […]
Section 192 of the Income Tax Act, 1961 TDS on Salary – An Employer Approach This article might be useful for employers by guiding them regarding deducting TDS on salary income payable to their employees in all aspects. I am hereby addressing frequently arising doubts among the employers with respect to salary TDS. Here we, […]
Furnishing of evidence of claims by employee for deduction of tax under section 192 for the FY 2021-22 and AY 2022-23. (For Assessees other than those who opted for New Tax Regime)
Facilitating platform to comply with higher rates of TDS & TCS under 206AB and 206CCA Finance Act 2021 introduced two new section 206AB and 206CCA of Income tax Act 1961 ’the Act’ with effect from 1 July 2021. The object being to increase the timely filing of income tax returns by resident assesses or non-resident […]
1) Who is responsible to deduct tax u/s 192 of Income Tax Act, 1961? All persons paying salary are responsible to deduct TDS on income chargeable under the head “Salary”. In other words none of the payer of Salary is excluded; Individual, HUF, Partnership firms, companies, cooperative societies, Trust and other artificial judicial persons have […]
INTRODUCTION TDS or Tax Deducted as Source is an indirect method of collecting tax. It aims at collecting the tax at the very source of income. TDS is a pay as you earn scene. It is collected as it is earned. PAYMENTS COVERED UNDER THE SCHEME OF TDS Section 192 to 194 of the Income […]
HLS Asia Ltd. Vs DCIT (ITAT Delhi) Prima facie after looking at provisions of Section 17 and the concept of Director under the Companies Act and thus has a relationship as an employee to the Company. Besides this, the fees which is termed as sitting fees is the part and parcel of remuneration of the […]
