Income Tax : Updated TDS & TCS rates from April 1, 2025. Check applicable thresholds, deductions, and compliance requirements for various payme...
Income Tax : Explore the major amendments in Finance Act, 2025 compared to 2024, covering Income-tax Act changes, compliance updates, tax refor...
CA, CS, CMA : Introduction Tax Deducted at Source (TDS) is a crucial mechanism for collecting taxes at the point of income generation. The India...
Income Tax : Budget 2025 introduces tax reliefs, higher TDS thresholds, and urban housing reforms, impacting real estate growth while raising c...
Income Tax : Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the I...
Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he bre...
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : The PIL challenges the TDS system's constitutionality, citing undue burdens, forced labor, and Article 14, 19, and 21 violations, ...
Income Tax : ITAT Delhi partly allows BSNL's appeal but upholds interest levy u/s 201(1A) for delayed TDS deposit. Check the details....
Income Tax : During the course of a survey, it was seen that the assessee had defaulted in deducting tax at source on interest paid to AGE Pate...
Goods and Services Tax : The petitioner raised bills on respondent No.4 based on the works executed from time to time, TDS @ 2% on the total value of the b...
Income Tax : Bombay HC dismisses Revenue appeal vs Vodafone Essar (AY 08-09). Upholds ITAT view: Call centre payments fall under TDS Sec 194C (...
Income Tax : Rajasthan High Court quashes income tax reassessment for NRI property purchase. Learn why source of funds matters in tax cases....
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
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 : No tax deduction required on purchases from IFSC Units under Section 194Q of the Income-tax Act, 1961, with specific conditions fo...
Income Tax : No income tax deduction will apply to payments made to credit guarantee funds managed by NCGTCL, as notified under Section 197A(1F...
Learn about Joint Development Agreements (JDAs), tax implications under Section 45(5A), capital gains, TDS under Section 194IC, and compliance requirements.
Anticipated income tax changes in Budget 2025 include simplified laws, revised slabs, TDS reforms, and equitable taxation for individuals, corporates, and trusts.
In the instant case, assessee had not filed any return within stipulated time framed u/s 139(1), but had filed the return u/s 139(8A) (updated return) on 31.03.2023 along with Form 67 filed online on the said date claiming FTC.
ITAT Ahmedabad held that denial of Foreign Tax Credit [FTC] on the ground that corresponding income has not been offered for tax in the year under appeal is not justifiable. Accordingly, FTC allowed.
ITAT Ahmedabad held that addition towards unexplained cash credit under section 68 of the Income Tax Act not justified since loan transactions were done through banking channels and loans were repaid in short period. Accordingly, addition deleted.
Understand the revised TDS rate chart for FY 2024-25. Know TDS sections, rates, thresholds, and exemptions to stay compliant and avoid penalties.
Section 194R mandates 10% TDS on benefits over ₹20,000 annually. Learn its impact on accounting, compliance, and the challenges faced by businesses and assessees.
ITAT Delhi remanded the matter back to the file of AO (TDS) for proper verification of quantum of External Development Charges (EDC) for demand of tax under section 201(1) of the Income Tax Act.
Delhi High Court held that co-accused permitted to apply separately for compounding of offences committed by a Company or HUF. Accordingly, matter remitted back to decide afresh in light of CBDT circular dated 17.10.2024.
Understand TDS on partner payments under Sections 194T, 40(b), and 28(v). Learn limits, deductions, and taxability of salaries, commissions, and interest in partnership firms.
