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 : Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective Apri...
Corporate Law : From October 2024, tax will be deducted at source on interest exceeding ₹10,000 for Floating Rate Savings Bonds (FRSB) 2020 and ...
Income Tax : ITAT Bangalore held that year-end expense provisions can attract TDS under the IT Act. The matter was restored for limited verific...
Income Tax : The Tribunal examined whether prior approval under Section 153D was granted after due application of mind. It held that mechanical...
Income Tax : ITAT held that mass same-day approval without reviewing records violated Section 153D. The ruling confirms that mechanical approva...
Income Tax : ITAT Agra held that entire TDS deducted on maturity of bond is allowable since assessee has already offered interest income on acc...
Corporate Law : Madhya Pradesh High Court held that FIR, registering offence u/s. 304-A, 34 of the IPC, against managing director of the company o...
ITAT Bangalore held that year-end expense provisions can attract TDS under the IT Act. The matter was restored for limited verification to determine liability under Sections 201(1) and 201(1A).
The Tribunal examined whether prior approval under Section 153D was granted after due application of mind. It held that mechanical and routine approval invalidates the assessment, rendering the search assessment void.
ITAT held that mass same-day approval without reviewing records violated Section 153D. The ruling confirms that mechanical approvals invalidate 153A assessments.
ITAT Agra held that entire TDS deducted on maturity of bond is allowable since assessee has already offered interest income on accrual basis. Accordingly, appeal of the assessee is allowed and TDS credit granted.
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.
Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective April 1, 2025.
Madhya Pradesh High Court held that FIR, registering offence u/s. 304-A, 34 of the IPC, against managing director of the company on account of failure in putting safety signs on either side of culvert so as to prevent any accident of road user justifiable.
From October 2024, tax will be deducted at source on interest exceeding ₹10,000 for Floating Rate Savings Bonds (FRSB) 2020 and specified government securities.
