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...
British Airways PLC Vs ITO & Ors. (Delhi High Court) The limited grievance of the petitioner raised in this petition is that the withholding tax certificate issued to the petitioner has been made effective from the date of issue and not from the beginning of the financial year i.e. 01.04.2019. For example, it is pointed […]
District Mining Officer Vs JCIT (TDS) (ITAT Allahabad) It is noted that the Assessing Officer has initiated the penalty proceedings u/s 272A(2)(k) of the Income Tax Act for the alleged default of delivering the statement of TDS in Form 26Q within the time specified in section 200(3) read with proviso to section 206(3). In the […]
ACIT Vs Acer India Private Limited (ITAT Bangalore) Conclusion: No disallowance under section 40(a)(i) could be made as there could not be a retrospective obligation to deduct tax at source and therefore as on the date when assessee made payments to the non-resident for acquiring off-the-shelf software, could not be regarded as in the nature […]
Understanding Section 194IA, 194IB & 194LA of the Income Tax Act, 1961. Learn about the provisions and deductions related to property transfers.
When there is a purchase of immovable property, the buyer needs to deduct tax (TDS) from the Sale value, pay the balance amount to the Seller and pay the TDS amount to the Government. As per Indian Income Tax Act, where a resident purchases any property from a Non Resident, he has to deduct tax […]
Section 194H is for income tax deducted on any income by way of commission or brokerage, by any person responsible for paying to a resident. (Section 194H does not include insurance commission referred to in section 194D.) Individuals/HUFs who were covered under section 44AB(a) and (b) in the preceding previous year i.e. whose gross turnover/receipts […]
Boeing India Pvt. Ltd. Vs ACIT (ITAT Delhi) Conclusion: When expatriate employees seconded to taxpayer had worked as employees of the taxpayer company, their salary had been rightly subjected to section 192 and Explanation to section 9(1)(vii) which apparently made it clear that salary would not fall within the expression ‘fee for technical services’ and […]
Section 194N is pertaining to Tax Deducted At Source for withdrawal Cash by any person from, a banking company to which Banking Regulation Act 1949 applies, a cooperative society engaged in carrying on the business of banking; or a post office who is responsible for any sum, being the amount or the aggregate of amounts, […]
The issue under consideration is whether the CIT(A) is correct in stating that TDS u/s 195 applicable on software expenses without appreciating the fact that appellant was merely acting as a distributor and not having right to have a copy of the software?
Intas Pharmaceuticals Ltd. Vs ACIT (ITAT Ahmedabad) Conclusion: Since assessee incurred expenses for providing facilities/services such as travel, accommodation and equipment to persons associated with it such as stockist, field staff, distributors and doctors and also incurred expenses towards distribution of various articles/gifts/other facilities to these persons, therefore, there did not exist any agency relationship […]
