Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but co...
Income Tax : The new rules replace old form numbers with a structured sequence across categories. The update simplifies compliance and improves...
Income Tax : Tax authorities are increasingly questioning decision logic behind TDS deductions. The lack of recorded reasoning in ERPs makes co...
Income Tax : Income Tax India, through its X account post dated 30.03.2026, has clarified the applicability of tax deduction at source (TDS) on...
Income Tax : Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transaction...
Income Tax : Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificate...
Income Tax : Stakeholder-wise and thematic overview of Budget 2026 tax reform proposals covering farmers, MSMEs, corporates, NRIs, exporters, a...
Income Tax : The C&AG’s audits ensure proper assessment, collection, and allocation of direct taxes, identifying evasion risks and improving ...
Income Tax : The Tribunal held that receipts from sponsorship and royalty were incidental to the promotion of sports. It ruled that absence of ...
Income Tax : Karnataka High Court flags catch-22 in TDS prosecution of ex-MD post-liquidation; directs Official Liquidator to act on representa...
Income Tax : The Tribunal held that consultancy payments for architectural services were not FTS since no technical knowledge was made availabl...
Income Tax : The Tribunal held that TDS credit must be granted in the year in which the related income is assessed, even if it is not reflected...
Income Tax : Expenses incurred for a proposed business project later abandoned were allowed as revenue expenditure. The Tribunal held that such...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Income Tax : The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enh...
Income Tax : The issue involved delay in issuing TDS certificates due to technical issues. The Board extended the deadline to provide relief. T...
Goods and Services Tax : The advisory explains that registrations will be automatically suspended if bank account details are not furnished within 30 days....
ITAT Delhi held that addition under section 68 towards unsecured loan amount unjustified as identity and creditworthiness of creditors and genuineness of transaction duly proved by way of documentary evidences.
Learn about post-filing steps taken by Income Tax Authority for accurate assessment of Income Tax Returns (ITRs). From data validation to notices and refunds, explore process in detail.
Delve into Section 276B of the Income Tax Act and its implications. Discover the nuances of the recent Supreme Court ruling in Dev Multicom Pvt Ltd’s case.
An analysis of ITAT Delhi’s order in ITO Vs Santur Builders Pvt Ltd, stating that TDS is not applicable on EDC payments to HUDA on behalf of State Government.
The issues raised were in relation to the non-deduction of TDS for payment of professional services and the disallowance of Employees Contribution to PF&ESIC.
Calcutta HC confirms the order on TDS deduction on an unsecured loan for Safex Complex Pvt Ltd. under Section 148A(d) of Income Tax Act for AY 2019-20.
ITAT Chennai declares Section 234E late fee invalid for assessment years before 01.06.2015 in Marshal Textiles vs ACIT, aligned with HC decisions.
ITAT Delhi held that the receipts from sale of software licenses are not in the nature of royalty income. Also held that, though, such income may be in the nature of business profit, however, no part of which can be attributed to the PE in India.
Ministry of Finance introduces new rule for TDS on foreign currency income, specifying exchange rates for tax calculation. Learn about changes.
Explore detailed rules and exemptions of gift taxation in India under Income Tax Act, 1961, including classification and tax implications for different types of gifts.
