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...
ITAT Delhi held that TDS under section 194A of the Income Tax Act duly deductible on interest paid by subsidiary company to its holding company.
TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.
ITAT Allahabad held that the interests on the credit balance in the capital account of the partners of the firms has to be calculated on the actual duration of the credit remains in the capital account and not on opening or closing day of financial year.
ITAT Bangalore held that deduction under section 80P of the Income Tax Act is duly available to the entities registered under Karnataka Souharda Sahakari Act, 1997.
Mahesh Urban Co-Operative Bank Ltd Vs ACIT (ITAT Pune) ITAT held that a co-operative bank/ assessee has no liability to deduct TDS on interest payments made to members. We thus delete the impugned section 194A r.w.s. 40 (a)(ia) disallowance of Rs. 2,00,095/- in very terms therefore. FULL TEXT OF THE ORDER OF ITAT PUNE 1. […]
DCIT Vs 3i Infotech Consultancy Services Limited (ITAT Mumbai) ITAT held that factoring charges incurred by the assessee company is not in the nature of interest and that the assessee was not under the obligation to deduct TDS as per the provisions of section 40(a)(ia) of the I.T. Act. For this, we would like to […]
ITAT Delhi held that there is no liability to deduct TDS on interest on savings bank account and interest of compulsory deposit account as per the provisions contained u/s 194A of the Act. Accordingly, disallowance u/s 40(a)(ia) unsustainable.
Held that insurance company is not required to deduct TDS on interest on compensation till 01.06.2015. However, after 01.06.2015, TDS is deductible if interest exceeds Rs. 50,000 per claimant per financial year.
Mandheshwari Urban Development Co-op. Bank Ltd. Vs ACIT (ITAT Pune) issue in the present appeal relates to whether a nominal member, who is not a registered member of the society, can be treated as a member of the cooperative society whether the exemption is available under clause (v) of sub-section (3) of section 194A of […]
Swaraj Builders Vs ITO (ITAT Raipur) Assessee had failed to comply with the mandate of law and had failed to deduct tax at source u/s.194A of the Act on the aforesaid amount of interest payment of Rs.7,46,025/-. Accordingly, the A.O had disallowed the amount of Rs.7,46,025/-u/s.40(a)(ia) of the Act which was thereafter, upheld by the […]
