Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
Income Tax : The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepa...
Income Tax : The New Income Tax Act, 2025 replaces multiple TDS and TCS provisions with consolidated Sections 392, 393 and 394 effective from F...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for May 2026. It highlights filing requirements under income tax...
Goods and Services Tax : The content addresses key statutory deadlines under income tax and GST laws for May 2026. It highlights due dates and compliance r...
Income Tax : The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity,...
Income Tax : Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transaction...
Income Tax : Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificate...
Income Tax : Stakeholder-wise and thematic overview of Budget 2026 tax reform proposals covering farmers, MSMEs, corporates, NRIs, exporters, a...
Income Tax : The C&AG’s audits ensure proper assessment, collection, and allocation of direct taxes, identifying evasion risks and improving ...
Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
Income Tax : The Chhattisgarh High Court held that TCS under Section 206C(1C) cannot be collected on compounding fees recovered from illegal mi...
Income Tax : The Chhattisgarh High Court ruled that TCS under Section 206C(1C) applies only to lease holders, licence holders, or persons grant...
Income Tax : The Supreme Court upheld that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled tha...
Income Tax : The High Court held that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled that com...
Income Tax : The Supreme Court declined to interfere with a High Court ruling that TCS under Section 206C(1C) does not apply to compounding fin...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Goods and Services Tax : The advisory explains that registrations will be automatically suspended if bank account details are not furnished within 30 days....
Income Tax : CBDT Circular 9/2025 offers partial relief for higher TDS/TCS on inoperative PANs, extending compliance deadlines for taxpayers wh...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
The new rules replace old form numbers with a structured sequence across categories. The update simplifies compliance and improves clarity in tax filings.
The case highlights that TDS applies to multiple income categories including salary, interest, and contracts. It reiterates that failure to deduct or deposit TDS results in assessee-in-default consequences and penaltie
The case explains the statutory framework governing appeals and revisions under the Income-tax Act. It highlights the role of faceless schemes in ensuring electronic filing, allocation, and disposal of appeals.v
The framework outlines offences like tax evasion, non-filing of returns, and failure to pay TDS/TCS. It clarifies punishments, procedural safeguards, and when prosecution can be initiated.
The framework outlines when TCS must be collected on goods, services, and remittances. It clarifies applicable rates, timing, and compliance requirements under tax law.
The law consolidates earlier TCS provisions under a new section without changing rates. The key takeaway is the need to update compliance references from April 2026.
The issue concerns complexity in the existing TDS/TCS provisions. The new framework consolidates sections and introduces coding systems, improving compliance efficiency and reducing ambiguity.
The Supreme Court upheld that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled that compounding fees from illegal mining are not subject to TCS.
The High Court held that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled that compounding fees from illegal mining are outside its scope and not subject to TCS.
The chart outlines revised TDS and TCS rates across salary, interest, contracts, and transactions. It highlights applicable rates, thresholds, and key compliance points for the financial year.
