Income Tax : The law places the responsibility of TDS deduction on the buyer, not the seller. Failure to comply can lead to penalties, interest...
Income Tax : The court held that tax authorities cannot rely on earlier findings already set aside by appellate bodies. Each Section 197 applic...
Income Tax : An overview o the Lower Deduction Certificate (LDC) under Section 197. Learn who can apply, the benefits for cash flow, and the on...
Income Tax : Learn how to apply for a Lower TDS Deduction Certificate under Section 197. Understand the step-by-step process, required document...
Income Tax : Learn about Section 197 of the Income Tax Act, which allows for certificates for deduction at a lower rate. Explore eligibility, a...
Income Tax : Budget 2024 extends the scope for lower deduction/collection certificates under Sections 197 and 206C, effective from October 2024...
Corporate Law : Supreme Court held that initiation of administrative proceedings for disciplinary action against air force pilot not justifiable s...
Income Tax : The Court held that rejection of a lower withholding certificate without reasons violates Rule 28AA. It remanded the matter for fr...
Income Tax : The Delhi High Court held that issuing a 15% withholding certificate without properly considering the Supreme Court’s ruling was...
Income Tax : The Court set aside the Section 197 order holding that distribution fees were treated as royalty without concrete reasoning. It di...
Income Tax : The issue was whether a deductor can be treated as in default for non-deposit of TDS when the payee has already paid tax on the in...
Income Tax : Finance Ministry exempts ICRISAT from TDS under Section 197A(1F) of Income Tax Act, effective from publication date. Exemption ali...
Income Tax : Get details on new Income Tax Notification exempting specific payments to International Financial Services Centre (IFSC) Units fro...
Read the detailed analysis of the ITAT Chennai order in the case of ST Engineering Electronics Ltd. vs ACIT regarding taxable contract income, addressing issues of revenue recognition and accounting standards.
Board is the authority to regulate the functioning of the Insolvency Professionals and the Board comprises of experts in the field who have been appointed by the Central Government to carry out the functions specified under Part IV of the IBC.
Telangana High Court held that once sanction has been given to a particular authority, i.e., the Deputy Director of Income Tax, the prosecution has to be launched by him alone and not by the Assistant Director of Income Tax. Thus, the authority which has initiated the prosecution must have sanction of law. Otherwise, it amounts to illegal action.
Commanding Officer Vs Bhavnaben Dinshbhai Bhabhor & Others (Supreme Court of India) Conclusion: In present facts of the case, the Hon’ble Supreme Court held that family members of deceased Constable in the Railway Protection Special Force would be entitled to Compensation under Workmen Compensation Act, 1923 as he would be considered as a “Workman” under […]
Learn about the Bombay High Court’s ruling on the retrospective application of an amendment to Section 54F in the case of Hemant Dinkar Kandlur vs CIT
Karnataka High Court dismissed the writ petition in case of illegal excavation/ transportation of iron ore as discretionary jurisdiction under section 482 of Cr. P.C. cannot be exercised.
Gujarat High Court dismissed the allegation of sale of High Speed Diesel to various private industries at concessional sales tax without complying with the mandatory requisite permission from the Ministry of Petroleum & Natural Gas. The said allegations were dismissed in absence of any evidence.
Explore the impact of the Finance Act, 2023 on non-resident and not ordinarily resident individuals in India. Changes in tax deductions, deemed income, presumptive taxation, TDS rates, and more explained.
Delhi High Court directed the concerned officer to revisit the application preferred under section 197 of the Income Tax Act as the concerned officer simply by-passed the Supreme Court judgement in Engineering Analysis by observing that revenue has preferred a review petition. Such approach of officer is untenable.
According to u/s 149(9) of companies act, an independent director shall not be entitled to any stock option and receive any remuneration by way of a fee provided under section 197 sub section 5, reimbursement of expenses for participation in a board and other meeting and profit related commission as may be approved by the members.
