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....
A Critical Analysis Of Tds On Freight Payments Under Section 194 (6) Of The Income Tax Act, 1961 MEANING AND IMPORTANCE OF TDS IN GENERAL Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where the person responsible for making specified payments such as salary, commission, professional fees, interest, rent, contract […]
Understand the implications of TDS Section 206AB and Section 206CCA of the Income Tax Act, 1961. Learn about the higher TDS rates and how they apply to specified persons.
Understanding Section 194C amendments and important court judgments on section 40(a)(ia) of the Income Tax Act.
Section 194Q: Deduction of tax at source on payment of certain sum for purchase of goods Explanations and FAQ’s 1. From which date the provisions of Sec 1 94Q Applicable? The provision of Sec 194Q notified in Finance Act, 2021 and applicable from 01st July 2021. 2. In which cases and who are liable to […]
206ए.बी./206सी.सी.ए. के अधीन किन व्यक्तियों का टी०डी०एस०/टी०सी०एस० बढ़ी हुई दर से काटना/वसूलना होगा, यह जानने के लिए सरकार यूटिलिटी जारी करेगी अब तक शायद ही कोई ऐसा हो जो यह नहीं जानता हो कि आयकर कानून, 1961 की धारा 206ए.बी. / 206सी.सी.ए. के अधीन रिटर्न न भरने वाले कुछ व्यक्तियों का टी०डी०एस० और टी०सी०एस० निर्धारित […]
Understand the applicability and analysis of Section 206AB and 206CCA of the Income Tax Act,1961. Learn about the higher tax rate for non-filers and the effective date of these sections.
Explanations and FAQ’s on Sec 206AB and Sec 206CCA Section 206AB: Special provision for deduction of tax at source for non-filers of income-tax return and Section 206CCA: Special provision for collection of tax at source for non-filers of income-tax return 1. Who is a Specified person? Specified persons means a person i. who has not […]
1. What is Section 194Q and 206C(1H)? – Section 194Q is for Tax deducted at source (TDS) applicable from 01.07.2021 and – Section 206C(1H) is for Tax Collected at source(TCS) applicable from 01.10.2020. 2. When is a person liable to deduct TDS u/s 194Q and TCS u/s 206C(1H)? -TDS is to be deducted under section […]
Representation in respect of 1) completion of orders and fixing of hearings in June 2021 without following Instruction issued by appropriate authorities for NOT fixing hearing and NOT passing of Faceless assessment orders, penalty orders and faceless appeal Orders under Income tax act during non-operation or improper operation of ITD Portal 2) for extension of […]
1. Log in to the e-Filing portal using your user ID and password. Considering the tendency of taxpayers to evade the payment of taxes, Income Tax provisions provide for the collection of tax from the very source of income. Under this mechanism, the person responsible for making the payment is liable to deduct tax before […]
