Income Tax : ITAT Kolkata held that employees should not bear tax liability again where TDS was deducted but not deposited by the employer....
Income Tax : This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax...
Income Tax : Employees changing jobs may face additional tax at filing because each employer deducts TDS independently. The demand usually refl...
Income Tax : The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting r...
Income Tax : Form 130 is essential for claiming TDS credit on salary, pension, and interest income. The ruling mandates issuance through TRACES...
Income Tax : Learn about the proposed amendments to Section 192 of the Income-tax Act, allowing salaried employees to claim credit for TCS and ...
Corporate Law : Article explains TDS Rates for Financial year 2022-23 i.e. Assessment Year 2023-24 under Income Tax Act, 1961. Article contains TD...
Income Tax : SalaryTDS - Monthly Calculator helps in Precise calculations of monthly TDS values for each employee based on their annual income ...
Income Tax : BCAS made a Representation to CBDT regarding error in stating due date for Filing of Quarterly TDS Statements for Financial Year 2...
Income Tax : Income Tax Department to directly communicate deposit of tax deducted, through SMS alerts to salaried taxpayers, at the end of eve...
Income Tax : The Court held that an assessee cannot be denied TDS credit or saddled with tax demand when tax has been deducted from salary but ...
Income Tax : Delhi High Court held that an employee cannot be denied TDS credit due to the employer’s default in depositing deducted tax. The...
Income Tax : ITAT Kolkata held that an employee cannot be denied TDS credit if the employer fails to deposit deducted tax. Once TDS is deducted...
Income Tax : The Court held that proceedings under Section 201 were invalid because a binding interim order barred TDS on LTC payments. The rul...
Income Tax : Gujarat High Court rules tax cannot be recovered from employees when employer fails to deposit deducted TDS; directs CBDT to enfor...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees r...
Income Tax : No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th Dec...
Income Tax : CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source ...
Income Tax : Furnishing of evidence of claims by employee for deduction of tax under section 192 for the FY 2021-22 and AY 2022-23. (For Assess...
ITAT Kolkata held that employees should not bear tax liability again where TDS was deducted but not deposited by the employer.
This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax Act. It also covers HRA, provident fund, gratuity, pension, Form 12BB, Form 16, and relief under Section 89.
Employees changing jobs may face additional tax at filing because each employer deducts TDS independently. The demand usually reflects a TDS shortfall, not double taxation.
The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting reduces excess tax deduction and refunds.
Form 130 is essential for claiming TDS credit on salary, pension, and interest income. The ruling mandates issuance through TRACES for validity. This ensures transparency and proper tax credit reporting.
Form 124 allows employees to declare tax-saving claims to employers. Filing ensures correct TDS calculation with eligible deductions.
The Court held that an assessee cannot be denied TDS credit or saddled with tax demand when tax has been deducted from salary but not deposited by the employer.
Delhi High Court held that an employee cannot be denied TDS credit due to the employer’s default in depositing deducted tax. The related demand and recovery were quashed.
ITAT Kolkata held that an employee cannot be denied TDS credit if the employer fails to deposit deducted tax. Once TDS is deducted from salary, it is deemed paid, and the employee’s liability does not arise. The Tribunal directed full TDS credit and deletion of the demand.
The Court held that proceedings under Section 201 were invalid because a binding interim order barred TDS on LTC payments. The ruling confirms that no default arises when deduction is judicially prohibited.
