Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
Income Tax : Section 194N requires banks, co-operative banks and post offices to deduct TDS on cash withdrawals above prescribed limits, with h...
Income Tax : Resident individuals, eligible non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form ...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
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 : ITAT Chennai held that late filing fees under Section 234E could not be levied through TDS processing for periods prior to 01.06.2...
Income Tax : The ITAT held that, following the Supreme Court's ruling denying LFC exemption for foreign travel, a bank could be treated as an a...
Income Tax : ITAT Kolkata held that TDS under Section 194C was not required on materials purchased for installation work. The disallowance unde...
Corporate Law : The Court held that TDS certificates and income tax filings established a prima facie jural relationship between the parties. It g...
Income Tax : he Tribunal held that accepted on-money receipts from earlier years could partly explain cash deposits made during the demonetisat...
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....
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 […]
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) […]
