Income Tax : Learn about Section 194T introduced in Finance Bill 2024, covering TDS on payments to partners, its implications, and potential c...
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 : Learn how to respond to a defective return notice under Section 139(9) of the Income Tax Act. Steps for correction and consequence...
Income Tax : Explore key issues in Budget 2024, including tax rectification delays, unjust tax rates, exorbitant TCS on foreign travel, and nee...
Income Tax : Learn about the new Section 194T, its implications on TDS for partners' remuneration, and the interplay with Section 40(b) from th...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : CBDT's new circular relaxes TDS/TCS rules for deceased deductees/collectees before PAN-Aadhaar linking, eliminating tax liability ...
Income Tax : Budget 2024 extends the scope for lower deduction/collection certificates under Sections 197 and 206C, effective from October 2024...
Income Tax : Budget 2024 reduces penalty relief period for TDS/TCS statement filing from one year to one month. Changes effective April 2025....
Income Tax : Budget 2024 introduces a six-year limit for filing TDS/TCS correction statements. Amendments to sections 200 and 206C will be effe...
Income Tax : Supreme Court rules Vodafone Idea is not liable for TDS on payments to foreign telecom operators. The decision aligns with earlier...
Income Tax : ITAT Hyderabad held that dismissal of appeal by CIT(A) on the ground of non-deposition of self-assessment tax by the assessee need...
Income Tax : The assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessme...
Income Tax : Delhi High Court held that in case of search, block period of ten years for search assessment, would not be attracted in case the ...
Income Tax : Understand the Ahmedabad ITAT ruling that payments for certification services by foreign entities are not taxable in India without...
Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...
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...
It’s essential to be aware of the various situations that may prompt such notices to ensure compliance with tax regulations. In this detailed exploration, we will examine different scenarios that can lead to notices from the Income Tax Department.
Delhi High Court rules in favor of employee, stating the employer is responsible for TDS deposit. Petitioner exempted from tax liability. Details and analysis here.
Explore intricacies of deemed dividends in India. Understand definitions, applicable transactions, and tax implications. Uncover insights into Section 194 and 2(22) of Income Tax Act.
In the context of the Income Tax Act of 1961 in India, winnings typically refer to income earned through activities such as lotteries, crossword puzzles, races, card games, gambling, betting, or any other kind of game of chance or skill.
Explore the Expat Engineering India Ltd. vs ACIT case regarding interest on late TDS payment. Understand the arguments, tribunal decision, and implications
Understand TDS deduction in business: rules, exceptions, and penalties. Learn who needs to deduct, when to deduct, and the consequences of non-compliance.
Explore key guidelines outlined in CBDT Circular 20/2023 for TDS in e-commerce sector. Learn about multiple ECO transactions, inclusion of fees, GST treatment, purchase returns, and discount deductions
Discover importance of filing a late income tax return, consequences of missing deadline, and a step-by-step guide for online filing before December 31 cutoff. Avoid penalties and stay financially disciplined.
Stay updated with Circular No. 20/2023 on Income Tax Section 194-O. Learn guidelines for e-commerce operators, TDS on gross sales, discounts, and more. Detailed insights here
Stay ahead of tax obligations! Explore advance tax due dates for FY 2023-24, calculation methods, exemptions, TDS insights, and consequences of non-payment. Be tax-savvy!
