Income Tax : Learn about disallowed expenses under PGBP in India's Income Tax Act. Understand key sections like 37, 40, and 40A, and their impa...
Income Tax : Learn about disallowances under Income Tax Act sections and their reporting requirements in Form 3CD during tax audits. Key provis...
Income Tax : Delhi HC rules reimbursements to NRAEs not subject to TDS as "fees for technical services," clarifying scope of Section 9(1)(vii) ...
Income Tax : Explore allowable tax deductions for AY 2025-26, covering salaries, house property, business, and personal expenses. Maximize your...
Income Tax : Explore crucial issues in income tax practices, including Section 44AD, TDS obligations, LTCG exemptions, cash deposits, and tax d...
Income Tax : Section 40(a)(ia) is amended via Finance (No. 2) Act, 2014 to restrict the amount of disallowance for non-deduction of tax to 30% ...
Income Tax : The existing provisions of section 40(a)(ia) of Income-tax Act provide for the disallowance of expenditure like interest, commissi...
Income Tax : ITAT Ahmedabad held that no disallowance under Section 43B of the Act can be made when deduction is not claimed in the profit and ...
Income Tax : The present appeal has been preferred by the revenue. The controversy involved in the present appeals pertains to the treatment of...
Income Tax : The assessee company, engaged in the business of real estate, having multiple ongoing projects of construction and also selling up...
Income Tax : ITAT Raipur held that disallowance under section 43B of the Income Tax Act towards unpaid VAT liability cannot be sustained since ...
Income Tax : ITAT Ahmedabad held that PCIT cannot exercise revisionary power u/s. 263 to restore an issue for the purpose of verification only ...
Income Tax : Circular No. 3/2015 Section 40(a)(i) of the Act stipulates that in computing the income chargeable under the head "Profits or gain...
Income Tax : Sub: Deduction of tax at source under Section 195 read with Sections 201 of the Income-tax Act, 1961 relating to payment made to a...
Income Tax : Circular No. 10/DV/2013-Income Tax It has been brought to the notice of the Board that there are conflicting interpretations by j...
ITAT Gauhati held that TDS not required to be deduct by the partnership firm on salary, bonus, commission or remuneration given/ credited to the partner of the firm.
ITAT Kolkata held that disallowance under section 40a(ia) of the Income Tax Act for non-deduction of TDS untenable if payee has duly disclosed the receipt of the impugned payment in their return of income.
ITAT Chennai held that if TDS is deducted by applying wrong provisions or at lower rates, the sum paid cannot be disallowed attracting provisions of section 40(a)(ia) of the Income Tax Act.
CIT(Appeals) that the CPC has misread the Audit Report because in the Audit Report, it has been specifically mentioned that TDS is being deducted wherever such TDS was required to be deducted on payments made by the assessee. This aspect was not examined, i.e. what is the nature of payment, whether TDS is to be deducted or not? The disallowance cannot be made in a mechanical manner.
Sunsmart Technologies Pvt. Ltd Vs ACIT (ITAT Chennai) As per Explanation-2 to Sec.9(1)(vii) of the Act, FTS means any consideration (including in lump sum consideration) for the rendering of any managerial, technical or consultancy services, but does not include consideration for any construction, assembling, mining or like project undertaken by the recipient or consideration which […]
DCIT Vs 3i Infotech Consultancy Services Limited (ITAT Mumbai) ITAT held that factoring charges incurred by the assessee company is not in the nature of interest and that the assessee was not under the obligation to deduct TDS as per the provisions of section 40(a)(ia) of the I.T. Act. For this, we would like to […]
ITAT Delhi held that there is no liability to deduct TDS on interest on savings bank account and interest of compulsory deposit account as per the provisions contained u/s 194A of the Act. Accordingly, disallowance u/s 40(a)(ia) unsustainable.
Paras Nath Singh Vs ACIT (ITAT Patna) Main grievance of the assessee is disallowance u/s 40(a)(ia) amounting to Rs. 25,74,023/- being the expenditure incurred in respect of freight and carriage. On this specific issue from the perusal of assessment order passed by the AO and it was come to our notice that he had categorically […]
Understanding TDS deduction under Section 40(a)(ia) of the Income Tax Act. Learn about the disallowance of expenses and the consequences of non-compliance.
Shri Gopinathan Vs ITO (ITAT Chennai) It is not the case of the Department that the Assessing Officer has omitted to consider the claim of expenses and thereby passed the rectification order under section 154 of the Act. In this case assessment was reopened under section 147 of the Act and during the course of […]
