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 ITAT held that taxing only TDS credit, while leaving the underlying undisclosed commission untaxed, is a patent error. Section 263 revision was rightly invoked to protect revenue.
The Allahabad High Court, in U.P. Rajya Nirman Sahakari Sangh Limited vs Union of India, quashed a tax recovery notice, holding that an assessee must be given credit for Tax Deducted at Source (TDS) if they provide valid Form 16A certificates, even if the amount is not reflected in Form 26AS.
Understand eTDS return corrections, the six-year revision limit, and challenges in claiming TDS credit. Learn how tax adjustments impact deductees.
Tribunal in the case of Yegneswari General Traders vs. ITO has held that based on CBDT circular no. 452 it is clear that Kaccha Arahtias turnover includes only the gross commission and not the sales effected on behalf of their principals.
Explore crucial rulings in case of Interglobe Technology Quotient Pvt Ltd vs ACIT (ITAT Delhi) regarding CSR expenditure disallowance and TDS credit allowance, along with detailed analysis.
In the case of Salesforce.com Singapore Pte Ltd. vs ACIT, ITAT Delhi ruled that receipts from CRM services aren’t taxable in India as royalty or FTS under the Income-tax Act or India-Singapore DTAA.
Even if income of Non-resident on which tax is deducted, is not taxable in India, credit is to be given for TDS on such income and excess TDS is to refunded to taxpayer.
Learn how the new Income Tax Rule 134 and Form 71 offer relief for taxpayers facing TDS credit mismatch. Discover the procedure, benefits, and limitations of Form 71, allowing you to claim TDS credit for income declared in previous assessment years, even if the TDS was deducted in subsequent financial years. Stay informed to avoid missing the window for claiming TDS credits.
ITAT Delhi held that if the assessee has shown the income, then, the assessee has every right to get credit of TDS even if deductor has deducted tax in subsequent A.Y.
ITAT Mumbai rules in favour of Anant Singhania HUF, allowing TDS credit for sale of housing property. The landmark decision provides clarity on tax deductions and credits.
