Income Tax : The document explains that deduction under Section 194R is required even without examining whether the benefit is taxable in the r...
Income Tax : Dealer incentives like tour packages are taxable as business income under the new law. If TDS is borne by the payer, it must be ad...
Income Tax : The law taxes business/professional benefits via 10% TDS, even for non-cash perks. The key takeaway is tax must be ensured before ...
Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
Goods and Services Tax : Section 194R mandates 10% TDS on benefits over ₹20,000 annually. Learn its impact on accounting, compliance, and the challenges ...
Income Tax : Learn about the tax implications on haircuts taken by banks and creditors for companies resolved under the Insolvency and Bankrupt...
Income Tax : Madras HC stayed recovery of Section 271C penalty on payment of Rs.4 crore, noting a prima facie case based on the Supreme Court's...
Income Tax : ITAT Bangalore held that assets received for testing purpose and there is no specific benefit that arises to the assessee with res...
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 : The assessee is a wholly owned subsidiary of Samsung Electronics Company Ltd. The assessee filed the return of income for AY 2015-...
Income Tax : Additional Guidelines for removal of difficulties under section 194R(2) of Income-tax Act, 1961 - Circular No. 18/2022-Income Tax...
Income Tax : AMENDMENT TO RULE 30, 31, 31A AND FORM 26Q, 26QB, 26QC AND 26QD AND INSERTION OF NEW FORM 16E AND 26QE TO INCOME TAX RULES, 1962 V...
Income Tax : CBDT issued Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961 vide Circula...
Learn about the tax implications on haircuts taken by banks and creditors for companies resolved under the Insolvency and Bankruptcy Code, 2016, as clarified by the MCA.
Discover Section 194R introduced by the Finance Act 2022, detailing TDS requirements on benefits or perquisites provided to residents, excluding discounts, rebates, or sales. Learn more here.
Understand the interpretation of ‘arising from business or the exercise of a profession’ for Section 194-R of the Income Tax Act. Ensure TDS applicability on benefits.
Explore Section 206AB of Income Tax Act, imposing higher TDS rates for specified persons not filing ITR. Learn conditions, rates, and exemptions under this provision.
Explore the GST impact on transactions under Income Tax Section 194R. Analyzing benefits, taxation, and considerations for businesses. Learn more.
Explore the practical challenges and guidelines of Income-tax Act’s Section 194R introduced in 2022. Learn how to navigate complexities, avoid litigations, and ensure compliance.
An in-depth analysis of TDS obligations in the entertainment industry – Kamal Hassan and Kalanithi Maran’s gifting scenarios under the Income Tax Act.
Understand Section 194R TDS implications on benefits or perquisites in business or profession from July 1, 2022. Check our comprehensive guide on compliance, rates, and exemptions. Stay informed to avoid penalties.
Learn about TDS provisions in the Income Tax Act, including Section 194N, 1940, 194P, 194Q, 194R, 194S, 206C(1G), 206AB, and 206CCA. Stay compliant and avoid penalties.
It is proposed to amend section 271C inserting two new sub-clauses under clause (b) in sub-section (1) providing reference to the first proviso to section 194R and the first proviso to section 194S. Similar amendments are also proposed in section 276B.
