Income Tax : The Finance Act (No. 2), 2024, has brought a significant change by imposing a time limit on TDS correction statements. Until now, ...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he bre...
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : The PIL challenges the TDS system's constitutionality, citing undue burdens, forced labor, and Article 14, 19, and 21 violations, ...
Income Tax : Government decriminalizes minor direct tax offences, simplifies compliance, and improves litigation management. Key changes includ...
Income Tax : ITAT Chennai held that although the assessee company was following the mercantile system of accounting, only real income could be ...
Income Tax : Orissa HC quashes criminal proceedings against Metaliks Ltd for delayed TDS deposit, citing financial distress and COVID-19 impact...
Income Tax : ITAT Hyderabad rules in favor of Karimnagar DCCB, granting immunity from penalty under Section 270AA. The appeal challenges tax pe...
Income Tax : Orissa High Court quashes TDS prosecution against Yash Marothia, citing delays due to COVID-19 and prior judicial precedent in sim...
Income Tax : Delhi High Court upheld ITAT’s decision in CIT vs. Cargill Global Trading, ruling that discount charges are not interest and not...
Income Tax : No tax deduction required on purchases from IFSC Units under Section 194Q of the Income-tax Act, 1961, with specific conditions fo...
Income Tax : No income tax deduction will apply to payments made to credit guarantee funds managed by NCGTCL, as notified under Section 197A(1F...
Income Tax : No income tax deduction will be made on payments to NCGTCL under Section 197A(1F) of the Income-tax Act, 1961, as notified by the ...
Corporate Law : Ministry clarifies TDS refund transfer to FCRA accounts, stating it’s not a violation and must be reported as "other income" in ...
Income Tax : Govt. issues notification exempting TDS on payments to Credit Guarantee Fund Trust for Micro and Small Enterprises under Income-ta...
The ITAT Ahmedabad ruled on the disallowance of TDS credit to Theo Desh Consultants due to non-inclusion of corresponding income in the relevant assessment year.
Learn how to use 26AS text to Excel conversion tool. Tested in Excel 2019, 2021, and Office 365. Follow simple steps to convert and manage TDS/TCS data efficiently.
Supreme Court dismisses IT Dept’s petition, ruling Vodafone Idea isn’t liable to deduct TDS on payments to non-resident telecom operators, following past judgments.
Partner’s Remuneration 194T Payment TDS Calculator for the FY 2024-25 AY 2025-26 in Excel Format Section 40(b) – From AY 2025-26, partnership firms see an increase in the limit for allowability of working partners’ remuneration. Now, on the first Rs 6 lakh of book profits, or in case of loss, a remuneration of Rs. 3 […]
Supreme Court rules Vodafone Idea is not liable for TDS on payments to foreign telecom operators. The decision aligns with earlier judgments on tax obligations.
Learn about Section 194T introduced in Finance Bill 2024, covering TDS on payments to partners, its implications, and potential challenges for firms.
ITAT Hyderabad held that dismissal of appeal by CIT(A) on the ground of non-deposition of self-assessment tax by the assessee needs re-verification since assessee incurred losses and therefore has a reason for not depositing the self-assessment tax. Hence, matter remanded.
The assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessment proceedings, AO had examined the expenses debited in regard to the sets under consideration.
Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disclosure.
Delhi High Court held that in case of search, block period of ten years for search assessment, would not be attracted in case the search has taken place before 1st April 2017.
