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 : Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective Apri...
Income Tax : Important TDS rate changes from October 1, 2024, affecting insurance, rent, commissions, mutual funds, and e-commerce. Learn about...
Income Tax : Explore the Supreme Court interpretation of Section 194-H of the Income Tax Act, 1961, analyzing the distinction between commissio...
Income Tax : Dive into the intricacies of TDS under Sections 194C, 194H, 194J, and explore their critical relation with Section 194M. Clear ins...
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 : Assessee was not liable to deduct TDS under section 194H as relationship between e-commerce platform and assessee was not of an ...
Goods and Services Tax : Delhi High Court allowed the petition for waiver of mandatory pre-deposit under section 35F of the Central Excise Act, 1944 since ...
Income Tax : ITAT Bangalore remitted the matter back to CIT(A) so that assessee can file necessary documents with regard to disallowance made u...
Income Tax : Calcutta High Court rules in favor of Vodafone Idea Limited, stating no TDS is required on payments received by distributors/franc...
Income Tax : Gujarat High Court rules in favor of Bharti Airtel Ltd, stating distributor discounts are not subject to TDS under Section 194 of ...
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 PCIT duly invoked provisions of section 263 of the Income Tax Act as assessment order was passed by AO without carrying out necessary enquiry/verification.
ITAT Delhi held that initiation of action u/s. 154 of the Income Tax Act on the basis of shortfall in TDS on year end provisions reported in Form 3CD of the assessee cannot be faulted. Accordingly, matter remanded to AO.
ITAT Delhi held that provisions of section 194H of the Income Tax Act are not applicable on sells of pre-paid SIM at discounted price to the distributors. Further, as no TDS deductible, disallowance u/s 40(a)(ia) cannot be sustained.
Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Easy-to-understand guide.
Greenstar Fertilizers Limited wins case against ACIT in ITAT Chennai, clarifying that payments made to dealers for sales of fertilizers are rebates, not subject to TDS.
Gain a comprehensive understanding of Tax Deducted At Source (TDS) provisions under the Income Tax Act, 1961. Explore key sections such as 192, 193, 194, and 195, which cover various payment scenarios where tax deduction is required. Learn about TDS rates, thresholds, and implications for different types of income.
ITAT Patna rules in favor of Ravi Lochan Singh, establishing that deductions should not be disallowed under Section 40(a)(ia) if the recipient includes income from receipts of the assessee in their income tax return.
ITAT Pune held that the deduction u/s 36(1)(va) in respect of employee’s contribution not entitled on failure to deposit employee’s contribution before due date prescribed under the relevant statutes.
ITAT Bangalore held that if the net profit margin meets the Arm’s length price, then no separate addition needs to be made. Accordingly, TPO directed to delete the adjustment made towards Advertising Marketing Price (AMP) expenses.
ITAT Indore held that non-deduction of TDS due to genuine and bona fide belief is reasonable cause under section 273B and accordingly penalty u/s 271C not imposable.
