Goods and Services Tax : This update highlights all major compliance due dates for April 2026 under Income Tax and GST laws. It helps taxpayers stay on tra...
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 Mumbai remanded ₹95.81 lakh commission disallowance, holding that non-response to Section 133(6) notices alone cannot justi...
Income Tax : ITAT Delhi held that Advertisement, Marketing & Promotion expense [AMP expense] incurred by Make My Trip wholly and exclusively fo...
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...
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...
DCIT Vs M/s. Creative Technotex (P.) Ltd. (ITAT Kolkata) Assessee contended that during the year commission was paid to the parties and incentive was also paid to several persons, who physically collect the money from different places as per the direction of the team employed. According to the assessee, this is not commission but incentive […]
ITAT had held that there is no principal-agent relationship between the bank issuing the bank guaranee of the assessee. The ITAT Mumbai Bench had further noted that while it is termed as |guarantee commission|, the same is not in the nature of commission
Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax Act, 1961.
As the sale of starter kits/sim cards is purely a purchase/sale transaction on principal-to-principal basis and there is no relationship of agency, hence no obligation was cast upon the assessee to have deducted tax at source under Sec. 194H in respect of the discounts given to the distributors on the sale of the same.
This appeal by the Revenue arises out of the order of the Learned Commissioner of Income Tax(Appeals)-Durgapur [in short the ld CIT(A)] in Appeal No. 08/CIT(A)/DGP/2015-16 dated 31.08.2016 against the order passed by the DCIT, Circle-1, Dgp [ in short the ld AO] under section 143(3) of the Income Tax Act
ITO Vs Tarun Sales (ITAT Delhi) ITAT held that Since no dealer or sub-dealer was appointed either by BSNL or by the assessee, for the purpose of marketing the products and/or service of the BSNL, the entire sales were to customers, either directly or through shopkeepers, who rendered services to the customers. The entire sales […]
The assessee is an Individual and engaged in the business of trading in mobile and accessories including SIM card, pre-paid card etc. During the course of assessment proceedings, the AO noted that the assessee has shown the payment of commission of Rs. 16,41,989/- under section 40(a)(ia) of the Act without deduction of TDS
EPCOS India Pvt. Ltd. Vs. ITO (ITAT Kolkata) Briefly stated facts are that the assessee in the present case is a private limited company and engaged in the business of manufacturing and sale of soft ferrite components, DC and AC capacitors, metalized films etc. The assessee in the year under consideration has claimed expenses under […]
The Director, Prasar Bharati Vs. CIT (Supreme Court Of India) In our considered view, the High Court was right in holding that the provisions of Section 194H are applicable to the appellant because the payments made by the appellant pursuant to the agreement in question were in the nature of payment made by way of […]
M/s. Delhi International Tax Airport Pvt. Ltd Vs DCIT (ITAT Bangalore) Once it has been repeatedly held that Airlines Operators are collecting the PSF on behalf of the Airport Authorities/Operators and the PSF is to be paid to the airport authority in terms of the notifications issued by the MOCA at different points of time,the […]
