Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...
Income Tax : Understand TDS and TCS compliance deadlines. Learn about deposit dates, return filing schedules, and issuance of certificates to a...
Income Tax : Understand capital gains tax on equity and mutual funds. Learn about short-term and long-term gains, tax rates, exemptions, and st...
Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
Income Tax : Addressing glitches in ITD portal, the Association of Tax Lawyers requests an extension for the ITR filing deadline due to signifi...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Release of File Validation Utilities (FVUs) and Return Preparation Utility for e-TDS/TCS Statements File Validation Utility (FVU)...
Income Tax : Receive a reminder from CPC (TDS) to file your TDS Statement 26Q for Quarter 4, F.Y. 2023-24. Understand implications of non-compl...
Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
Income Tax : ITAT Delhi rules Section 56(2)(vii) inapplicable to non-residents, deleting Rs. 9.31 Cr addition for APL Logistics Vascor Automoti...
Service Tax : Explore the detailed analysis of Indian Additives Ltd vs Commissioner of GST & Central Excise. CESTAT Chennai rules no service tax...
Income Tax : Calcutta High Court rules in favor of Vodafone Idea Limited, stating no TDS is required on payments received by distributors/franc...
Income Tax : Gujarat High Court rules in favor of Bharti Airtel Ltd, stating distributor discounts are not subject to TDS under Section 194 of ...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Income Tax : Learn about CBDT Circular No. 6/2024 offering relief to TDS deductors for transactions up to March 31, 2024, when PAN becomes oper...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
Income Tax : Discover the latest Circular from the Ministry of Finance, India, outlining measures to reduce tax litigation by specifying condit...
Income Tax : Get details on Circular No. 04/2024 by CBTD. Ex-post facto extension for Form No. 26QE due date till 30.05.2023. Waiver of fees an...
माल की खरीद पर टीडीएस धारा 194Q और धारा 206(C)(1H) से जुडा एक बड़ा सवाल सुधीर हालाखंडी दिनाक 1 जुलाई 2021 से आयकर कानून में टीडीएस को लेकर एक नई धारा को194 Q लागू हो रही है जिसके अनुसार खरीददारों को अपने विक्रेताओं से प्राप्त माल की खरीद पर टीडीएस काटना है . इस धारा […]
The recent amendments together with some earlier amendments have brought about confusion as regards its implications. A brief note in a summary form is prepared for a clear understanding of such provisions.
You all must be getting some communication from your vendors/suppliers/buyers etc. asking for declaration on whether you have filed your IT Return for the previous two financial years or whether your total TDS deducted exceeds Rs. 50,000/- in the previous two financial years. All this is because there are major changes in TDS Provisions from […]
Section 206AB and 206CCA of The Income Tax Act will be effective from 01.07.2021. The provision requires deductor to make the TDS u/s 206AB and 206CCA if payment is made to specified person. The specified persons is defined the section, however it has become a very difficult task to determine who is a specified person […]
Get a comprehensive understanding of Sections 206AB & 206CCA of the Income Tax Act, 1961. Learn about the higher rates of TDS/TCS for non-filers of ITR.
Understand the requirements of 194Q and 206C(1H) of Income Tax Act, 1961. Learn how to comply with these rules to avoid penalties and ensure legal compliance.
Stay updated on recent changes in TCS/TDS on sale-purchase of goods. Learn about the new regulations and their impact on businesses.
Section 194Q – TDS on PAYMENT for PURCHASE of GOODS (w.e.f. 01.07.2021) 1. Applicable on BUYER i.e. person making payment 2. On GOODS purchased – not on services 3. SELLER is RESIDENT i.e. not applicable to Non-Resident (not having any permanent establishment in India). 4. BUYER has TURNOVER from business EXCEEDING Rs.10 CRORES in the […]
1st July 2021 is going to be a big day as far as TDS and TCS under the Income Tax Law is Concerned. A new Section 194Q – The TDS on Purchases of Goods will be there and further another new section 206AB and 206CCA will also be there for Enhanced rate of TDS/TCS. One […]
Understanding Section 194Q: TDS on purchase of goods. Learn about the applicability, rates, and time of deduction.
