Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Income Tax : Capital gains from compulsory acquisition are generally taxed when compensation is received rather than when the land is acquired....
Income Tax : Finance Bill 2025 increases the TDS threshold for compensation on compulsory acquisition of immovable property under Section 194LA...
Income Tax : Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective Apri...
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 : The Bombay High Court held that compensation awarded under Section 3G(5) of the National Highways Act cannot be subjected to TDS b...
Income Tax : Karnataka HC confirms that compensation for land acquired under National Highways Act after 01.01.2014 is fully exempt under Secti...
Income Tax : The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding tha...
Income Tax : Gujarat High Court held that non-filing of Income Tax Return as ignorant about deduction of TDS on account of land acquisition rea...
Income Tax : Accordingly, the Petitioner preferred an application u/s. 119(2)(b) of the Income Tax Act, 1961 on 23.03.2020, seeking condonation...
Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance requirements and recent aggregation rule.
Capital gains from compulsory acquisition are generally taxed when compensation is received rather than when the land is acquired. The provisions also prescribe separate taxation for enhanced compensation and judicial awards.
The Bombay High Court held that compensation awarded under Section 3G(5) of the National Highways Act cannot be subjected to TDS because Section 96 of the 2013 Land Acquisition Act exempts such awards from income tax. The Court quashed orders directing 10% TDS deduction.
Karnataka HC confirms that compensation for land acquired under National Highways Act after 01.01.2014 is fully exempt under Section 96 of RFCTLARR Act, preventing any TDS or income tax deduction.
The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding that Section 194LA applies only to monetary compensation.
Gujarat High Court held that non-filing of Income Tax Return as ignorant about deduction of TDS on account of land acquisition reasonable. Accordingly, delay condoned and petitioner allowed the file the income tax return of the relevant year.
Accordingly, the Petitioner preferred an application u/s. 119(2)(b) of the Income Tax Act, 1961 on 23.03.2020, seeking condonation of delay in filing the return of income for Assessment Year 2017–18, with a view to claiming refund of the TDS amount.
Finance Bill 2025 increases the TDS threshold for compensation on compulsory acquisition of immovable property under Section 194LA to ₹5 lakh, effective April 1, 2025.
Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective April 1, 2025.
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.
