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...
Although it’s quite common to receive notices from IT department, people do get scared when they get one. What one needs to know is it’s not as big deal as one believes it to be, and if handled tactfully, one can get rid of any further complications. Following are some common reasons why people recieve […]
Simplification of Tax Deduction at Source (TDS) mechanism for Employees Provident Fund Scheme (EPFS) Under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 (EPF & MP Act, 1952), certain specified employers are required to comply with the Employees Provident Fund Scheme, 1952 (EPFS). However, these employers are also permitted to establish and manage their […]
For any startup or a freelancer, first few years are always challenging. Right from choosing the appropriate constitution for setting up the business to taking into account the tax implications, everything has to be done appropriately. Taxes can be complicated but their ignorance or lack of knowledge can land a young startup in unwanted troubles. […]
Delhi High Court held In the case of DIT Vs. M/s Ericsson Communications Ltd. that mere passing of the book entries, which are reversed, would not give rise to an obligation to deduct TDS by the Assessee, as clearly, there is no debt that can be said to be acknowledged by the Assessee.
The Hon’ble Punjab & Haryana High Court in the case of M/s Council for Citrus and Agri Juicing in Punjab Vs. CIT(TDS) held that the money lent by the public sector undertaking from the corpus fund created out of govt. sanctioned funds could not be deemed as loans advanced by the govt.
This is to inform you that due date for filing Quarterly TDS/TCS statement for Q2 of FY 2015-16 is fast approaching. Do submit the quarterly TDS/TCS statement on or before due dates (as mentioned below) to avoid late filing fee under section 234E of Income Tax Act.
Key Features – File Validation Utility (FVU) version 2.144 Discontinuation of C9 Correction Statements: As directed by Income Tax Department (ITD), C9 correction i.e. addition of new Challans in Correction Statement(s) has been discontinued. This version of FVU will be applicable with effect from September 29, 2015. Download Link- https://www.tin-nsdl.com/download/e-tds/FVU%202.144.zip
Kindly use NSDL e-Gov Return Preparation Utility (RPU) version 1.3 (JAVA based) for preparation of your e-TDS/TCS Statement(s). VB based NSDL e-Gov Return Preparation Utility (RPU) has been discontinued from TIN website with effect from September 28th, 2015.
Key Features – File Validation Utility (FVU) version 4.8 ♣ Section code 192A: In addition to Form no. 26Q, this section will also be applicable for Form no. 27Q where the date of payment to deductee is on or after 01/06/2015. ♣ Discontinuation of C9 Correction Statements: As directed by Income Tax Department (ITD), C9 […]
In CIT vs. Bruhat Bangalore Mahanagar Palike, the Karnataka High Court on the issue of applicability of TDS provision held that section 194LA only applies to compulsory acquisition of land and not on voluntary acquisition.
