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....
Important Information : Step to Clear Browser cache memory While trying to login to TRACES, user gets error message: Request resource could not be found Or Site is down due to planned maintenance While doing KYC , site is not proceeding further to next step and no Error message is displayed . User logs-Out successfully […]
Article contains Tutorial for PAO on Registration and Login on TRAQCES portal, How to retrieve Password if you forget the same on TRACES Portal, How to view Dashboard & Profile, PAO – Statement Status for a TAN and View AIN – TAN Mapping. A. E -Tutorial PAO Registration and Login PAO Registration –Step 1 PAO […]
Form 15H is a self declaration which can be submitted by the eligible person for non-deduction of TDS on the specified income. Under the present article we would try to understand the applicable provisions, along with the frequently asked questions, attached with form 15H. Eligibility criteria – The taxpayer who is willing to file a […]
Form 15G is a self-declaration form which can be filed by the eligible persons for applying for non-deduction of tax in case the total income of the eligible person doesn’t exceed the exemption limit of the respective financial year.
Overview of TDS on Non Resident Payments Provisions for Deduction of Tax at source in case of payments to non-residents is covered under section 195 of the Income tax act 1961 which are as below. SECTION 195 (1) APPLICABILITY Payments to any Non-Resident (not being a company). Foreign Company. PAYMENTS COVERED Any interest. Any other […]
Before coming on the main article, let’s understand why there is a need of invoking such provisions of section 194-IA under income tax act, 1961. There is a great need and importance of invoking such provisions in income tax so as to curb the circulation and flow of black money in India. Many Real Estate […]
Article explains how to Request for Nil/Lower Deduction/Collection Certificate (Form 13) by Resident (Covered under Rule 28AB of Income Tax Rules, 1962), Resident (Not Covered under Rule 28AB of Income Tax Rules, 1962), Non Resident and Non Ordinarily Resident. Article also explains about Form 13 Submission with Mobile OTP. It further includes Important Information of […]
Article contains Important Information to view Default Summary Form of 26QC , Brief Steps to View Default Summary of Form 26QC and Pictorial Guide to View Default Summary of 26QC. 1. Important Information to view “Default Summary”of 26QC. Default summary consists detailed information about the defaults in “26QC Statement Cum Challan” filed by Tenant (taxpayer) […]
E-Tutorial contains Important Information for Form 26QC- Justification Report, Brief Steps for 26QC- Justification Report and Pictorial Guide for 26QC- Justification Report. 1. Important Information on “26QC- Justification Report ”. Only Tenant registered on “TRACES” can submit request for Justification Report. Request for Downloading Justification Report can only be submitted when 26QC Statement Cum Challan […]
Ms Bhangal Construction Co. Vs ITO (ITAT Jalandhar) Simpliciter payment towards hiring charges of cranes cannot be brought within the sweep of the definition of the term work as envisaged in Sec. 194C of the IT Act. We thus are of the considered view that the lower authorities had erred in concluding that as the […]
