Income Tax : Employers must file Form 138 quarterly for salary TDS reporting. Timely filing ensures accurate tax credit to employees and avoids...
Income Tax : Form 102 provides a mechanism to claim TDS credit where deduction and income reporting occur in different years. It ensures taxpay...
Income Tax : Understand eTDS return corrections, the six-year revision limit, and challenges in claiming TDS credit. Learn how tax adjustments ...
Income Tax : Learn how the new Income Tax Rule 134 and Form 71 offer relief for taxpayers facing TDS credit mismatch. Discover the procedure, b...
Finance : Navigate TDS rates and compliances for FY 2023-24 onwards. Learn about TDS payment due dates, late fees, interest, penalty, prosec...
Income Tax : The Tribunal held that CPC cannot make adjustments without issuing prior notice under Section 143(1)(a). The disallowance of TDS c...
Income Tax : The issue involved restriction of TDS credit due to mismatch between Form 26AS and return. ITAT held that such adjustments require...
Income Tax : The Tribunal admitted additional evidence where TDS credit was denied because it appeared in a different assessment year’s Form ...
Income Tax : The dispute concerned denial of TDS credit citing inconsistencies in reported transaction values. The ruling clarified that Form 2...
Income Tax : The Tribunal held that where income is offered to tax on receipt basis, TDS credit must be granted in the same year despite timing...
Income Tax : Instruction No. 01/2012 The issue of processing of returns for the Asst. Year 2011-12 and giving credit for TDS has been considere...
Income Tax : INSTRUCTION NO. 2/2011 The issue of processing of returns for Asst. year 2010-11 and giving credit for TDS has been considered by ...
The Tribunal held that CPC cannot make adjustments without issuing prior notice under Section 143(1)(a). The disallowance of TDS credit was set aside for lack of jurisdiction.
The issue involved restriction of TDS credit due to mismatch between Form 26AS and return. ITAT held that such adjustments require verification and cannot be made under Section 143(1).
Employers must file Form 138 quarterly for salary TDS reporting. Timely filing ensures accurate tax credit to employees and avoids penalties.
Form 102 provides a mechanism to claim TDS credit where deduction and income reporting occur in different years. It ensures taxpayers do not lose legitimate credit.
The Tribunal admitted additional evidence where TDS credit was denied because it appeared in a different assessment year’s Form 26AS. The matter was remanded to the Assessing Officer to verify documents and allow credit as per law.
The dispute concerned denial of TDS credit citing inconsistencies in reported transaction values. The ruling clarified that Form 26AS is decisive for TDS credit when deduction and deposit are undisputed.
The Tribunal held that where income is offered to tax on receipt basis, TDS credit must be granted in the same year despite timing differences arising from accrual-based deduction by clients.
The case examined whether tax authorities could deny working capital adjustment despite clear prior directions of the Tribunal. The ITAT held that such directions are binding and must be implemented in letter and spirit. Once the adjustment was granted, the assessee’s margin fell within the permissible arm’s length rang
ITAT held that once tax is deducted from an employee’s income, credit cannot be denied merely because the employer failed to deposit it. Section 205 bars recovery of such tax from the employee.
ITAT Mumbai ruled that Form 26AS is not conclusive when deduction of tax is otherwise established. Denial of TDS credit would amount to double taxation, which Section 205 expressly prohibits.
