Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
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 : Section 194J increases the tax deduction threshold for professional services, technical services, royalty, and sums under section ...
Income Tax : Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective Apri...
Income Tax : Explore the implications of TDS on expense reimbursements post-Section 194R implementation and understand the invoicing criteria....
Income Tax : From October 2024, payments under Section 194J (professional fees) will be excluded from TDS under Section 194C (payments to contr...
Income Tax : Following is the summary of Suggestion /representation on behalf of the taxpayers/professionals in connection with the Direct tax ...
Income Tax : A representation is been made to CBDT Chairman by leading accounting and CA Organisations of India and it is been requested that...
Income Tax : It is suggested that the TDS limit for payment of professional or technical fees under section 194J may be increased from Rs. 3000...
Income Tax : On the issue of retrospective amendment, Union Finance Minister, Shri Pranab Mukherjee has said that he had given a commitment in ...
Income Tax : ITAT Chennai ruled in favor of Jayaram Rangan, holding that consultancy fees received as a Managing Director should be taxed as pr...
Income Tax : Karnataka High Court held that TDS is not deductible on payment to non-residents for advertisements in several social medias like ...
Income Tax : ITAT Chennai held that although the assessee company was following the mercantile system of accounting, only real income could be ...
Income Tax : Assessee was not liable to deduct TDS under section 194H as relationship between e-commerce platform and assessee was not of an ...
Income Tax : Section 36(1)(vii) of ITA applied separately to non-rural debts, while Section 36(1)(viia) of the tax statute only applied to rura...
Income Tax : Law Relating to Tax Deduction at Source (TDS) on payments by broadcasters or television channels to production houses for product...
Income Tax : Circular No. F. No.275/73/2007-IT(B) Service Tax component to be considered for deducting tax on any sum paid as professional and...
ITAT Chennai ruled in favor of Jayaram Rangan, holding that consultancy fees received as a Managing Director should be taxed as professional income, not salary.
Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee relationships, and GST applicability.
Explore major income tax updates for FY 2025-26, including revised tax slabs, TDS/TCS rules, rebates, and benefits for startups. Stay informed to plan effectively.
Karnataka High Court held that TDS is not deductible on payment to non-residents for advertisements in several social medias like Facebook, Amazon Web Services and Rocket Science Group. Accordingly, appeals are dismissed.
ITAT Chennai held that although the assessee company was following the mercantile system of accounting, only real income could be brought to tax. Hypothetical income cannot be taxed. Hence, appeal of revenue dismissed.
Assessee was not liable to deduct TDS under section 194H as relationship between e-commerce platform and assessee was not of an agency but that of two independent parties on principal to principal basis.
Section 194J increases the tax deduction threshold for professional services, technical services, royalty, and sums under section 28 from Rs. 30,000 to Rs. 50,000.
Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective April 1, 2025.
Section 36(1)(vii) of ITA applied separately to non-rural debts, while Section 36(1)(viia) of the tax statute only applied to rural debts, making it clear that banks were entitled to claim both deductions, provided they pertained to different types of advances.
Explore the implications of TDS on expense reimbursements post-Section 194R implementation and understand the invoicing criteria.
