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....
CIT TDS Vs Mewar Hospital Pvt Ltd (Rajasthan High Court) Before proceeding with the matter, it will not be out of place to mention that the assessee is running a hospital within State of Rajasthan and they have entered agreement with three different doctors. The question which came up for our consideration is whether benefit […]
DCIT Vs 3i Infotech Consultancy Services Limited (ITAT Mumbai) ITAT held that factoring charges incurred by the assessee company is not in the nature of interest and that the assessee was not under the obligation to deduct TDS as per the provisions of section 40(a)(ia) of the I.T. Act. For this, we would like to […]
Larsen & Toubro Public Charitable Trust L&T House Vs ITO (ITAT Mumbai) Rule 37BA(3)(ii) allows splitting up of TDS amount over a number of years if corresponding income is assessable over a number of years A.R submitted that certain income received by the assessee is split between two or more years under accounting principles. Accordingly, […]
ITAT Indore held that TDS on salary is deductible on the basis of net salary i.e. gross salary (-) deduction under Chapter VI-A. Therefore, demanding amount on short-deduction of TDS calculated on gross salary is unsustainable.
ITAT Mumbai held that once department issued the certificate of non-deduction of TDS under section 195(2), then department cannot disallow the same expenditure under section 40(a)(i) on the allegation that assessee failed to deduct TDS.
Singapore Airlines Ltd. Vs CIT (Supreme Court) Whether an airline is responsible for deducting tax at source in respect of supplementary commission which an agent is paid on the difference between the actual fare and the net fare- Section 194H of Income-tax Act, 1961 analyses including whether liability to deduct when the tax can be […]
Section 194N is applicable on withdrawals of more than Rs 1 crore from banks/co-operative bank/post office during a financial year. It will apply to the withdrawal of all the sums of money or an aggregate of sums from a particular bank/co-operative bank/post office in a financial year.
Dive deep into the intricate details of TDS under Section 194J of the Income Tax Act, 1961. This comprehensive analysis covers the applicability to various payments, definitions of professional services, technical services, royalty, and non-compete fees. Explore examples, threshold limits, and the applicable rates of tax deduction. Stay informed with relevant issues and insights, including notable court judgments.
ITAT Mumbai held that Commission to bank on payments received from customers who had made purchases through credit cards is not liable to TDS under section 194H of Act.
ITAT Pune held that interest u/s 201(1A) was charged on account of ex-facie delay in depositing the deducted tax within the stipulated due dates and such levy is automatic and without escapement.
