Income Tax : Explore the intricacies of Tax Deducted at Source (TDS) under Section 194A for interest payments other than securities. Learn abou...
Income Tax : Explore the impact of taxation on India's burgeoning online gaming sector, navigating legislative complexities and proposed Financ...
Income Tax : Explore how individuals can avoid TDS deductions under Section 194A of the Income Tax Act if their income falls below taxable thre...
Income Tax : Unravel the complexities of Section 194A TDS on interest payments to Non-Banking Financial Companies (NBFCs). Explore the legal ob...
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 : TDS THRESHHOLD INCREASED While presenting interim Budget 2019-20 FM has raised TDS threshold on interest earned on bank/post offic...
Income Tax : Andhra Pradesh High Court quashes prosecution against Aditya Institute for delayed TDS deposit, citing reasonable cause under Sect...
Income Tax : Whether interest retained by NBFCs on assets purchased by SBI falls under categories of interest, fees for professional/technical ...
Income Tax : In Tokai Sahakari Sakhar Karkhana Ltd vs ITO (ITAT Pune), ITAT rules that loan received from State Government is not subject to S....
Income Tax : ITAT Delhi held that PCIT cannot assume revisional jurisdiction under section 263 of the Income Tax Act when in case of debatable ...
Income Tax : Mumbai ITAT ruling in Canara Bank vs. ACIT case clarifies TDS liability when taxpayer unaware of subsequent TDS certificate. Detai...
Income Tax : No section 194A TDS on interest from Mahila Samman Savings Certificate – Notification No. 27/2023-Income Tax | Dated: 16th...
Income Tax : CBDT notifies that no Section 194A TDS will be deducted by ‘Scheduled Bank on payment of interest, other than interest on securi...
Finance : In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pa...
Income Tax : Income-tax Act provides that no tax deduction at source under section 194A shall be made in the case of Senior Citizens where the ...
Income Tax : Circular No. 23/2015 Section 194A of Income Tax Act, 1961 stipulates deductions of tax at source (TDS) on interest other than inte...
Kerala High Court instructs prompt consideration of stay application in tax dispute involving non-filing of income return under Section 139 of Income Tax Act.
Madras High Court held that circulars dated 16.03.2021, 05.08.2021 and 01.04.2021 mandating compliance of provisions of section 194A and 194N of the Income Tax Act by co-operative societies cannot be challenged under Article 226 of the Constitution of India.
ITAT Chennai held that reopening after expiry of 4 years, without establishing any failure on part of the assessee to disclose any material facts necessary for its assessment, is bad-in-law and liable to be quashed.
ITAT Chennai held that disallowing the interest to the extent of amount advanced to its sister concern unsustainable as subsidiaries are engaged in the business as that of the assessee and it is called the expansion of business.
ITAT Delhi rules that payments by a builder to allottees as compensation for delays are not interest under the Income Tax Act, relieving them from TDS obligations.
ITAT Jaipur held that the assessment order passed by AO after considering the information filed during assessment proceedings cannot be said to be erroneous and prejudicial to the interest of the revenue. Every loss of revenue as a consequence of an order of the AO cannot be treated as prejudicial to the interests of the Revenue.
ITAT Bangalore held that as assessee has no right to receive the interest accrued on Fixed Deposits due to prohibitory order, the same is not taxable.
ITAT Bangalore held that cooperative societies carrying on banking business when it pays interest to its members on deposits need not deduct tax at source in view of the provisions of Sec.194A(3)(v) of the Act.
ITAT Delhi held that maintenance charges received from corporate members is exempt on principle of mutuality. The said receipt doesn’t become taxable merely because it was subjected to deduction of tax at source.
In case of Maharaja Ganga Mahal vs. ITO (TDS) in ITAT Delhi, where TDS exemption was claimed for interest payments to AU Financiers. Learn outcome and implications
