CA, CS, CMA : Introduction Tax Deducted at Source (TDS) is a crucial mechanism for collecting taxes at the point of income generation. The India...
Income Tax : Budget 2025 introduces tax reliefs, higher TDS thresholds, and urban housing reforms, impacting real estate growth while raising c...
Income Tax : Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the I...
Income Tax : Confused about TDS on rent? Understand Section 194-IB, its implications, penalties, and solutions to rectify non-compliance. Find ...
Income Tax : Understand amendments in Section 200(3) of the Income Tax Act, effective via Finance Act 2024, impacting TDS correction deadlines ...
Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he bre...
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : The PIL challenges the TDS system's constitutionality, citing undue burdens, forced labor, and Article 14, 19, and 21 violations, ...
Income Tax : Rajasthan High Court quashes income tax reassessment for NRI property purchase. Learn why source of funds matters in tax cases....
Income Tax : ITAT Mumbai held that change of method of accounting from mercantile to cash system for recording interest income on loan due to f...
Income Tax : ITAT Pune held that since income of minor child is clubbed in the hands of assessee, TCS collected on the same needs to be credite...
Income Tax : Karnataka High Court held that interest under section 201 of the Income Tax Act and late filing fee under section 234E leviable fo...
Income Tax : Interest paid on late payment of TDS was not an expenditure wholly and exclusively incurred for the purpose of business and furthe...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : No tax deduction required on purchases from IFSC Units under Section 194Q of the Income-tax Act, 1961, with specific conditions fo...
Income Tax : No income tax deduction will apply to payments made to credit guarantee funds managed by NCGTCL, as notified under Section 197A(1F...
Andhra Pradesh High Court quashes prosecution against Aditya Institute for delayed TDS deposit, citing reasonable cause under Section 278AA of the Income Tax Act.
Learn about TDS under Section 194C of the Income Tax Act for payments to contractors. Includes rates, who needs to deduct, contract considerations, and tax deduction procedures.
Discover Section 194R introduced by the Finance Act 2022, detailing TDS requirements on benefits or perquisites provided to residents, excluding discounts, rebates, or sales. Learn more here.
Understand Section 194S of the Income Tax Act, 1961. Learn about TDS on transfer of virtual digital assets (VDA), thresholds, tax implications, and more.
Learn who can file ITR-7, how to file it, required information, and mandatory schedules. Detailed guide for assessees under various sections.
Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment process, and penalties involved.
Explore the Malad Chamber of Tax Consultants’ 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961, aimed at reducing litigation and boosting the economy.
Prepare for the Income Tax Season amidst the rainy season with these essential tips. Ensure timely filing and accuracy in your ITR to avoid penalties. Read more!
ITAT emphasized that under the accrual system, provisions for outstanding expenses can indeed be recognized based on estimates and do not require exact certainty at the time of accrual. The fact that the statutory auditors had approved the financial statements without qualification further supported Culver Max’s position that these provisions represented ascertained liabilities within the framework of accrual-based accounting.
Understand the implications of the Parulben Vijaykumar Patel vs ITO case from ITAT Ahmedabad. Detailed analysis and conclusion provided.
