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 : Karnataka High Court flags catch-22 in TDS prosecution of ex-MD post-liquidation; directs Official Liquidator to act on representa...
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 : 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....
M/s. Wipro Limited Vs ACIT (ITAT Bangalore) In this case relief was allowed by learned CIT (A) in respect of levy of surcharge and cess by directing the AO that surcharge and cess should be levied only in the cases where the non resident vendors are residents of countries with which DTAA allows withholding rate […]
The issue under consideration is whether surcharge and education cess should be levied only in the cases where the non-resident vendors are residents of countries with which the DTAA allows withholding rate of more than 11.33%?
Article explains Process for making Request for Nil/Lower Deduction/Collection Certificate (Form 13) in Offline Mode for Resident (Covered under Rule 28AB of Income Tax Rules, 1962) and Resident (Not Covered under Rule 28AB). It further explains Important information on Offline “Request for Form 13, Brief Steps of Offline Request for Form 13, Description for requested […]
After receiving the tax returns, the tax authorities examines the returns filed and if due to any reason they believe that information submitted by an assesee is wrong or incomplete then the assesee is served with a notice demanding justifications/ penalty or any action as stated by the department in the notice so served. There […]
Assessee had incurred only office expenditure and no expenditure relating to transportation of goods such as loading, unloading charge etc., has been debited, we are of the considered opinion that the assessee actually engaged himself not in the transportation business, but only facilitating or arranging transportation for various parties and he is a mere lorry booking agent. We, therefore, are of the opinion that the assessee cannot be held as the person responsible for deduction of tax at source and to the facts of the case the provisions under section 194C of the Act have no application.
Article contains E-Tutorial on Form 26QC Correction which includes Important Information for 26QC Correction, Brief steps for 26QC Correction, Description for Requested Status of 26QC Correction, Pictorial guide for 26QC Correction, Procedure for 26QC Correction with E-verify (Internet Banking), Pictorial guide for 26QC Correction with E-Verify (Internet Banking), Pictorial guide for 26QC Correction with DSC […]
Taxpayer can apply for 26QB refund from Assessment Year 2014-15 onwards. It is mandatory to validate the details by digital signature on TRACES to submit the Refund Request. Maximum refund amount will be the available challan balance. Article explains Important Information of 26QB Refund Request, Brief Steps of 26QB Refund Request and Pictorial Guide of […]
ITO vs. Firoz Abdul Gafar Nadiadwala (ACMM) t is well established that accused committed alleged offence. Before authority, he also remain absent. Not any application for compounding the offence is filed. It appears that there is culpable mental state of the accused for non depositing of TDS amount within time therefore, he is liable for […]
TDS APPLICABILITY ON PROVISIONS MADE YEAR END WHERE PAYEE NOT KNOWN AND AMOUNT INDETERMINATE The Issue is relating to TDS on provisions for Exps. at the year end. The TDS Provisions are very clear that if any amount of Expense is charged to Trading and Profit & Loss account which attracts TDS deduction, TDS has […]
Article explains Passwords for TDS / TCS Deductor/Collectors and Taxpayers related to Registration, Conso File, Justification Report, Form 16/16A/27D/TBR, Intimation received through Email, Form 26AS and Form 16B. Passwords for Deductor Functionality Password Example Registration Password must contain a minimum of 8 alpha numeric characters with at least one capital letter. It is applicable for […]
