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 : The new law replaces the 1961 Act without introducing new taxes or changing tax policy. It simplifies provisions, reduces complexi...
Income Tax : The case highlights that TDS applies to multiple income categories including salary, interest, and contracts. It reiterates that f...
Income Tax : The 30% Disallowance Trap in Section 35(b) of the Income Tax Act, 2025: When a Wrong TDS Payment Code Under Section 393 Triggers F...
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 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 case examines whether estimated expense disallowances can be made without rejecting books of account. ITAT held such additions...
Income Tax : ITAT held that interest earned on bank deposits is taxable and not covered by the principle of mutuality. The ruling confirms that...
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....
Delve into the recent ITAT Bangalore case of Balram Corporate Services Pvt Ltd Vs ITO, discussing the non-retrospective nature of late fee charges under Section 234E of the Income Tax Act.
Discover the ins and outs of Section 194N – TDS on Cash Withdrawals. Uncover the threshold limits, applicability to individuals and entities, TDS rates, and recent amendments. Learn through illustrative examples for comprehensive insights. Stay informed and compliant with tax regulations.
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 Kolkata in the case of Cargo Handling Corporation Vs ITO examines disallowance made under section 40(a)(ia) of Income Tax Act for non-deduction of TDS on transportation charges. ITAT deletes the disallowance as the deductee has already paid tax on transportation charges.
ITAT Mumbai held that addition on account of mismatch between the income reported under form number 26AS and the income recorded in the books of accounts unsustainable since the mis-match duly explained.
ITAT Delhi, in the ACIT Vs TV Today Network Ltd case, ruled that no penalty for failure to deduct TDS is applicable if the assessee added back the expense on which the tax was not deducted.
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.
Gain a comprehensive understanding of Tax Deducted At Source (TDS) provisions under the Income Tax Act, 1961. Explore key sections such as 192, 193, 194, and 195, which cover various payment scenarios where tax deduction is required. Learn about TDS rates, thresholds, and implications for different types of income.
Explore the provisions of TDS U/S 194Q and its applicability to Kachha Arahitias in selling crops on behalf of farmers. Understand the objections raised by CPC and the relevant circulars issued by CBDT.
ITAT Chennai held that there is no obligation to deduct tax at source u/s 195 of the Income Tax Act as payment made to sister concern in USA is purely reimbursement of expense and does not involve any element of income.
