Goods and Services Tax : Key Income Tax and GST compliance due dates for March 2026, including advance tax, TDS certificates, GSTR filings, and reporting r...
Income Tax : Learn about TDS on commission and brokerage under Section 194H, including rates, thresholds, and liability. Key updates for FY 202...
Income Tax : Explore major income tax updates for FY 2025-26, including revised tax slabs, TDS/TCS rules, rebates, and benefits for startups. S...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Section 194H amendment raises TDS threshold for commission or brokerage payments from Rs. 15,000 to Rs. 20,000, effective from Apr...
Income Tax : Understand Section 194H of the Income-tax Act: It mandates a 5% TDS on commission or brokerage payments to residents, soon reducin...
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 ruling reiterates that adjudication based on incorrect material vitiates the entire order. The matter was remanded to ensure p...
Income Tax : The Tribunal held that discounts given to stockists in pharmaceutical distribution are part of sale transactions on a principal-to...
Income Tax : The issue was whether entire brokerage receipts credited to a bank account could be taxed as income. The Tribunal held that only t...
Income Tax : The Court held that while Section 194H applies to supplementary commission, no tax demand survives once agents have paid tax. Reco...
Finance : All TDS deductions under Sections 194A, 194H, 194EE, and 194N will now be recorded at CPRC, streamlining reporting and compliance....
Income Tax : Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from Apr...
Income Tax : TDS on agents commission reduced from 5% to 2% as per the Finance Bill 2024. New rate effective from October 1, 2024, under Sectio...
Income Tax : Law Related to Tax Deduction at Source (TDS) on payments by television channels and publishing houses to advertisement companies f...
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).
Key Income Tax and GST compliance due dates for March 2026, including advance tax, TDS certificates, GSTR filings, and reporting requirements.
The ruling reiterates that adjudication based on incorrect material vitiates the entire order. The matter was remanded to ensure proper consideration of facts specific to the assessee.
The Tribunal held that discounts given to stockists in pharmaceutical distribution are part of sale transactions on a principal-to-principal basis. As no commission was paid, TDS under section 194H was held inapplicable.
The issue was whether entire brokerage receipts credited to a bank account could be taxed as income. The Tribunal held that only the profit element is taxable and estimated income at 25% of gross commission.
The Court held that while Section 194H applies to supplementary commission, no tax demand survives once agents have paid tax. Recovery was limited to interest under section 201(1A).
The dispute centered on whether co-insurance administration fees required tax deduction at source. The Tribunal upheld their allowability without TDS, noting the issue was repeatedly settled in earlier years. The key takeaway is that consistent past rulings in identical facts will be followed.
The Tribunal held that mere facilitation of third-party payments to an associated enterprise does not constitute a service. As no value addition was involved, applying a markup on reimbursements was found unsustainable.
ITAT Hyderabad held that interest paid on account of delayed remittance of TDS cannot be treated as business expenditure under section 37(1) of the Income Tax Act. Accordingly, order disallowing the same is upheld.
The Tribunal held that revenue-sharing license fees under the 1999 policy are capital expenditure, mandatorily amortizable under section 35ABB, following the Supreme Court verdict.
