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....
The Tribunal ruled that TDS credit can be granted even if not fully reflected in Form 26AS, subject to verification. The deductee should not be penalized for the deductor’s failure to deposit tax.
The ruling reiterates that adjudication based on incorrect material vitiates the entire order. The matter was remanded to ensure proper consideration of facts specific to the assessee.
ITAT rulings clarify that deduction of tax under Section 194J does not automatically classify income as professional income under Section 44ADA.
The Court reaffirmed that lease rent paid for use of land qualifies as “rent” under Section 194I. Revenue’s appeals were dismissed in light of binding precedent.
The Tribunal ruled that failure to examine whether payees discharged tax liability vitiates proceedings under Section 201. The case was sent back to the AO to verify compliance and re-decide the issue.
TAN requirement removed and PAN-based challan introduced for resident buyers purchasing property from non-residents, easing compliance procedures.
The High Court held that TCS under Section 206C(1C) applies only to lease or licence holders paying royalty, not to offenders paying compounding fines. ITAT’s demand of TCS, interest, and penalty was set aside.
The Budget cuts harsh tax rates, eases appeal deposits, and extends filing timelines to reduce compliance stress. It signals a shift toward certainty, lower litigation, and voluntary compliance.
Revenue argued that control and fixed hours created employment. The Tribunal ruled that such controls ensure discipline and contract enforcement, not employment. Result: TDS under Section 194J sustained.
The issue was how cryptocurrency income is classified for tax purposes. The framework holds that transfers fall under a dedicated VDA regime with a flat rate and strict loss rules.
