Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
Income Tax : Section 194N requires banks, co-operative banks and post offices to deduct TDS on cash withdrawals above prescribed limits, with h...
Income Tax : Resident individuals, eligible non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form ...
Income Tax : The new Income Tax Act largely retains existing TDS rules on property transactions but significantly simplifies compliance for buy...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
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 : ITAT Kolkata held that TDS under Section 194C was not required on materials purchased for installation work. The disallowance unde...
Corporate Law : The Court held that TDS certificates and income tax filings established a prima facie jural relationship between the parties. It g...
Income Tax : he Tribunal held that accepted on-money receipts from earlier years could partly explain cash deposits made during the demonetisat...
Income Tax : The Court held that compensation paid to workmen under a Government-approved closure package was exempt under the second proviso t...
Income Tax : The ITAT Bangalore held that disallowance under Section 40(a)(i) could not survive once the recipient of the income settled the ta...
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....
Assessee cannot be called upon to pay the tax which has been deducted at source from his income, even though not deposited by his employer – Quashes demand on employee arising from TDS not deposited by Kingfisher Airlines.
Understand TDS on Rent and TDS on Commission with this comprehensive summary. Learn about the provisions, rates, and thresholds for deducting TDS on these payments.
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Understand Section 194P of the Income Tax Act, 1961, facilitating easy filing of income tax returns for senior citizens aged 75 and above with only pension and interest income. Learn how to avail of TDS deduction benefits and simplify the tax filing process.
ITAT Delhi held that AO cannot put the entire burden on the assessee to show in whose hands the inadvertent receipts shown in Form 26AS has been declared. Assessee is not responsible to explain the recipients of such inadvertent receipts shown in Form No. 26AS.
ITAT Delhi held that determination of the rent or CAM are separate and the CAM arrangements are not essential and an integral part for use of the premises. Hence, provisions for rent are governed by Section 194I and CAM charges by Section 194C of the Act.
Explore the nuances of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) mechanisms under GST. Understand their eligibility, rates, registration, returns, and consequences of non-compliance.
ITAT Bangalore held that payment made towards service charges to CGTM France doesnot fall under the category of fees for technical service. Accordingly, TDS u/s 195 of the Income Tax Act not deductible.
Presently RSU (Restricted stock unit also known as Sweat Equity) allotted by a foreign grand parent company, free of cost to employee of Indian subsidiary, is being taxed as ‘perquisite’; and for the purpose, the FMV of the ‘vested units’, as on the date of vesting, is considered as the taxable perquisite value.
Delhi High Court held that levy of interest under section 234E of the Income Tax Act is illegal for returns of TDS in respect of the period prior to 01.06.2015. Accordingly, directed to be deleted.
