Income Tax : Understand the tax rules for capital gains on compulsory land acquisition (Section 45(5)), including the taxation of initial and e...
Income Tax : Section 194IA of the Income Tax Act mandates buyers to deduct 1% TDS on property transfers exceeding ₹50 lakh. The 2025 amendmen...
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 : 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...
Income Tax : Chief Accounts Officer Vs ITO (ITAT Bangalore) Provisions of section 194LA of the Act would apply only in the case of a compulsory...
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.
Understand the tax rules for capital gains on compulsory land acquisition (Section 45(5)), including the taxation of initial and enhanced compensation, cost basis, and exemptions. Details on TDS under Section 194LA, including rates (10%), thresholds (₹5L), and compliance.
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.
Section 194IA of the Income Tax Act mandates buyers to deduct 1% TDS on property transfers exceeding ₹50 lakh. The 2025 amendment includes incidental charges and considers the total value in joint ownership for TDS applicability.
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.
TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.
