Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Goods and Services Tax : Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and effi...
Income Tax : Explore proposed Budget 2025 changes in TDS/TCS provisions, including revised thresholds and rates. Learn how these amendments aim...
Income Tax : Amendments to Section 206C exclude court stays from time limit calculations for default orders. Effective April 1, 2025....
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-...
Income Tax : KSCAA requests review of incorrect TDS credit processing by CPC Bengaluru for AY 2024-25 and urges system corrections and resoluti...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : CBDT's new circular relaxes TDS/TCS rules for deceased deductees/collectees before PAN-Aadhaar linking, eliminating tax liability ...
Income Tax : The Orissa High Court quashed prosecution against Kashvi International for delayed TDS deposit, citing COVID-19 and financial hard...
Goods and Services Tax : Madras High Court held that order confirming demand due to mismatch between returns under GST set aside with condition to deposit ...
Income Tax : ITAT Ahmedabad partially upholds CIT(A)'s decision on TCS collection under Section 206C. Analysis focuses on Form 27C delays, proc...
Income Tax : ITAT Bangalore held that TCS credit is allowed to the entity conducting the business, irrespective of the fact that the liquor lic...
Corporate Law : Jharkhand High Court directs refund of Tax Collected at Source (TCS) by Central Coalfields Ltd. to R.S. Coke Industries (Pvt) Ltd....
Income Tax : Government specifies IFSC units exempt from tax collection under Section 206C(1H) for eligible purchases. Details outlined for buy...
Income Tax : CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Inco...
Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...
Income Tax : The Ministry of Finance exempts RBI from Section 206CCA of Income Tax Act, 1961 through Notification No. 46/2024 dated 27th May, 2...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Facing tax-related issues? Learn how to resolve grievances effectively as a Deductor on the TRACES website. Step-by-step guide for a smooth process.
Worried about TDS/TCS credit discrepancies in Form 26AS? Learn the reasons behind it and how to rectify them. Get expert guidance on tax compliance.
Explore the key clarifications provided by Income Tax Circular No. 10/2023 on TCS under the Liberalized Remittance Scheme (LRS) and the purchase of overseas tour program packages. Understand the revised rates, definitions, and answers to common queries for a comprehensive overview.
Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order which is subject to appeal or revision, Initiation of rectification by whom, Time-limit for rectification, The procedure to be followed for making an application for rectification, etc.
Learn about updated income tax returns, including eligibility, rules, and the filing process. Discover when you can file, which forms to use, and important deadlines.
ITAT Indore held that the credit of the tax collected at source should be given to the person in whose hands the income is rightfully and finally assessed to tax in accordance with law, irrespective of the person in whose hands the TDS/TCS certificate has been issued at first place.
ITAT Delhi restores a case involving Golden Traders vs. ITO due to the assessee’s failure to compile data during the COVID-19 pandemic, challenging an addition under Section 69B.
Explore 2023 Finance Act’s amendment on TCS for foreign travel packages. Learn about rates, thresholds, compliance, and more in this comprehensive guide.
Jharkhand High Court held that TCS is not to be collected in the transaction of purchase of coal which is used in generation of power. Accordingly, illegal sum collected as TCS is ordered to be refunded back with interest.
Explore significant changes in Tax Collected at Source (TCS) rates on foreign remittances in 2023 and learn strategies to minimize your TCS burden while managing finances during overseas trips
