Income Tax : ITAT Mumbai held that an employee cannot be denied TDS credit merely because the employer failed to deposit the tax deducted from ...
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...
Income Tax : ITAT Mumbai held that TDS credit cannot be denied where the employer deducted tax but failed to deposit it. Recovery must be made ...
Income Tax : ITAT directed the AO to verify Form 26AS and the corresponding income before deciding the TDS credit claim instead of denying it o...
Income Tax : The Tribunal ruled that tax demand cannot be raised against an employee where TDS was deducted from salary but not deposited by th...
Income Tax : The ITAT ruled that deduction of TDS does not excuse failure to file an income tax return. The decision emphasizes that income dis...
Income Tax : The key issue was whether the absence of corresponding entries in Form 26AS justified denial of TDS credit. The ITAT held that emp...
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 ...
ITAT Mumbai held that the Department cannot swallow tax paid by the assessee and deny credit of tax deducted, which pertains to the assessee. AO cannot simply decline the credit of TDS. AO directed to allow the TDS credit after due verification.
Assessee not eligible of amount of TDS deducted on amount of advance received by assessee as corresponding income was not offered to tax.
Requirement to allow TDS credit on Salary is only of amount of tax deducted at source & not getting deposited with Government after deduction.
ITAT held that TDS credit shall be given to deductee for Assessment Year (“A.Y.”) for which such income is assessable under Income Tax Act, 1961
ITAT Chennai held that TDS credit of the earlier financial years is available as income relating to said TDS has been offered to tax for the impugned assessment years on the basis of mercantile system of accounting.
ITAT Delhi held that it is an admitted fact that TDS is deducted from the salary and the same is not deposited, Governments claim of TDS stands satisfied under CRP. Hence, non-payment of deducted tax by the employer cannot be ground for rejection of TDS credit to the employee.
Held that in absence of TDS certificate, assessee has to furnish any other evidence to support deduction of tax at source by the payer of income. TDS credit denied for failure to furnish any other supporting evidence
Held that if assessee is not eligible for credit in the year under consideration then credit for the same should be allowed in the year in which tax has been deducted by the deductor.
Chirag M. Shah Vs ITO (ITAT Ahmedabad) It is observed that it is crystal clear that there are provisions under the IT Act; namely, section 199 of the IT Act, 1961 and Rule 37BA of the IT Rules, 1962 and the proper mechanism is also provided under the Act and Rules. Thus, respectfully following the […]
We are always worried about the fact that whether our TDS deductor/collector has filed quarterly TDS/TCS statement and provided our PAN while filing the TDS/TCS return. NSDL has recently launched a facility to enable deductee to know whether or not his TDS deductor/collector has filed quarterly TDS/TCS statement and provided his PAN while filing the TDS/TCS return.
