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....
Liladevi Dokania Vs ITO (ITAT Surat) It is evidently clear that assessee received the rent income, and the Tenant (Deductor) has deducted TDS but has not deposited the TDS so deducted into the Central Government Account. Considering these facts, we note that issue under consideration is no longer res integra. The Hon`ble High Court of […]
DCIT Vs Vinod Chimanlal Modi (ITAT Ahmedabad) It is observed that sufficient documentary evidence was placed on record by the assessee before the learned CIT(A) to establish that M/s. S.S. Enterprises is a proprietary concern of M/s. Gunesh India Pvt. Ltd. and on the basis of the same, a finding was recorded by the leaned […]
Since, the said amount pertains to late fee and service tax, therefore the provisions of TDS does not apply to the late fee and service tax, hence we delete the addition of Rs.10,48,125/-, made by the Assessing Officer.
Understanding TDS and TCS under Income Tax: Exploring sections 194Q and 206(1H) and their impact on businesses.
Penta Media Graphics Ltd Vs DCIT/ACIT (ITAT Chennai) Disallowance u/s 40(a)(i) justified if assessee failed to deduct TDS on payment for software development consultancy charges to foreign companies. Conclusion: Since assessee had not deducted TDS under section 195 on payment for software development consultancy charges was made to foreign companies and failed to file any […]
Explore the crux of TDS under Section 194R of the Income Tax Act, 1961. Learn about its applicability, rates, non-applicability, liability, and recent amendments.
Explore the complexities of Section 194R of the Income-Tax Act, 1961, with guidelines from CBDTs circular No.12 of 2022. Learn about TDS provisions, implications for businesses, and potential challenges, questioning the alignment with the Finance Bill 2022. Review real-world scenarios on out-of-pocket expenses and dealer conferences, highlighting concerns and suggesting a need for a comprehensive review by the government. Stay informed about the effective date and potential impact on the Ease of Doing Business.
Tulip Infratech Private Limited Vs Addl. CIT (ITAT Delhi) Ld. AO was of the view the assessee has paid EDC for the works carried out by HUDA and hence the same was liable for TDS u/s 194C Ld. AO also noticed that certain tax deductor sought clarification regarding applicability of TDS provisions on EDC charges […]
Understand the impact of Section 194R in the Income Tax Act. Learn about the taxation of benefits/perquisites in business or a profession.
High Court held that the provisions of Section 194J applied to the retainer doctors and not those of Section 192.
