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....
ITAT Chandigarh condoned an 87-day delay in filing an appeal where the assessee acted on genuine advice about CPC TDS rectification, emphasizing substantial justice over technical dismissal.
ITAT Chandigarh held that a Section 148 notice issued by the Jurisdictional AO instead of Faceless AO violated statutory provisions, quashing the assessment for AY 2018-19.
Overview of updated returns: 48-month filing window, eligibility, exclusions, DSC/EVC filing, required schedules, computation of tax, interest and additional tax slabs (25%–70%), and obligations for subsequent-year corrections.
Understand TDS on cash withdrawals under Section 194N, including thresholds, rates, compliance rules, exemptions, penalties, and filing requirements for banks and other deductors.
The ITAT Nagpur set aside an addition made under Section 40(a)(ia), holding that non-deduction of TDS on capital expenditure does not attract disallowance since it is not claimed as an expense.
The Gujarat High Court set aside an assessment order passed without considering the taxpayer’s reply regarding TDS under Section 194Q. The Court held that the faceless unit generated the order before reviewing the submission, violating natural justice. The case was remanded for a fresh decision after due consideration of the reply.
Section 194P provides tax deduction relief for senior citizens aged 75 years or more having only pension and interest income. Specified banks compute income, deduct tax, and exempt them from filing income tax returns.
ITAT ruled that reassessment under section 147 is valid even if based on an old PAN, as banking and TDS records may reflect its continued use. Ex parte assessment was remanded for proper reconciliation.
Learn how to apply for a lower or nil TDS certificate under Form 13. Covers eligibility, applicable incomes, filing steps, validity, and key compliance points for individuals, firms, and companies.
Tax not deducted if Form 15G or 15H filed by eligible individuals. Explains filing process, UIN generation, reporting, and 7-year retention rule.
