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...
Budget 2024 proposes TCS on notified luxury goods over 10 lakh rupees from January 2025. Learn about this amendment to widen the tax net.
Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised tax slabs for better compliance.
Understand TDS and TCS compliance deadlines. Learn about deposit dates, return filing schedules, and issuance of certificates to avoid penalties.
Release of File Validation Utilities (FVUs) and Return Preparation Utility for e-TDS/TCS Statements File Validation Utility (FVU) e-TDS / e-TCS returns prepared for FY 2005-06 and onwards (i.e. Forms 24Q, 26Q, 27Q and 27EQ) can be validated using this utility. A. FVU Version 8.6 for quarterly e-TDS/TCS statement pertaining to FY 2010-11 onwards Download e-TDS/TCS FVU.exe […]
Learn who can file ITR-7, how to file it, required information, and mandatory schedules. Detailed guide for assessees under various sections.
Explore the Malad Chamber of Tax Consultants’ 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961, aimed at reducing litigation and boosting the economy.
ITAT Delhi rules interest income on FDs linked to SEZ business operations is deductible under Section 80IAB. Analysis of Candor Gurgaon One Realty vs ACIT case.
ITAT Amritsar decision on Aay Kay Manufacturing Co. Vs ITO-CPC discusses TCS payable and Section 43B compliance, offering key insights for taxpayers.
Verify your Form 26AS before filing your ITR for FY 23-24. Ensure accurate TDS and avoid discrepancies for a smooth tax return process.
Link your PAN with Aadhaar by May 31, 2024, to avoid higher TDS/TCS deductions and inactive PAN issues. Learn the consequences of non-compliance here.
