Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...
Income Tax : Understand TDS and TCS compliance deadlines. Learn about deposit dates, return filing schedules, and issuance of certificates to a...
Income Tax : Understand capital gains tax on equity and mutual funds. Learn about short-term and long-term gains, tax rates, exemptions, and st...
Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
Income Tax : Addressing glitches in ITD portal, the Association of Tax Lawyers requests an extension for the ITR filing deadline due to signifi...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Release of File Validation Utilities (FVUs) and Return Preparation Utility for e-TDS/TCS Statements File Validation Utility (FVU)...
Income Tax : Receive a reminder from CPC (TDS) to file your TDS Statement 26Q for Quarter 4, F.Y. 2023-24. Understand implications of non-compl...
Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
Income Tax : ITAT Delhi rules Section 56(2)(vii) inapplicable to non-residents, deleting Rs. 9.31 Cr addition for APL Logistics Vascor Automoti...
Service Tax : Explore the detailed analysis of Indian Additives Ltd vs Commissioner of GST & Central Excise. CESTAT Chennai rules no service tax...
Income Tax : Calcutta High Court rules in favor of Vodafone Idea Limited, stating no TDS is required on payments received by distributors/franc...
Income Tax : Gujarat High Court rules in favor of Bharti Airtel Ltd, stating distributor discounts are not subject to TDS under Section 194 of ...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Income Tax : Learn about CBDT Circular No. 6/2024 offering relief to TDS deductors for transactions up to March 31, 2024, when PAN becomes oper...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
Income Tax : Discover the latest Circular from the Ministry of Finance, India, outlining measures to reduce tax litigation by specifying condit...
Income Tax : Get details on Circular No. 04/2024 by CBTD. Ex-post facto extension for Form No. 26QE due date till 30.05.2023. Waiver of fees an...
Introduction of new section 194LD to provide concessional rate of TDS in respect of interest income of a non-resident from rupee-denominated bonds or government securities consequent to the amendment in section 206AA The Finance Act, 2012 had amended section 115A to provide that Interest payable by an Indian company to a foreign company or a […]
Import of challan file (.csi file): Import of challan file downloaded from the TIN website (Challan Status Inquiry) has been made mandatory at the time of validating the quarterly TDS/TCS statement, if the TDS/TCS is deposited through challan. This will be applicable in case of regular statement and for correction statement in the scenarios as below:
Section 80CCG: Section 80CCG has been incorporated for Form no. 24Q Q4. Section code 80CCG is applicable for FY 2012-13 onwards. Section 80CCF: Quoting deduction under section 80CCF has been restricted to FY 2010-11 and 2011-12.
Services / Form 24G / Procedure to obtain duplicate copy of Provisional Receipt Number In case if Account Office needs duplicate copy of Provisional Receipt Number, AO is required to send request letter to NSDL.
TIN users who have registered on TRACES but not activated their account within 24 hours will have to register as new user. Click on ‘Register as New User’ and select user as ‘Deductor’ to proceed.
The Income Tax department has decided to crack the whip on big companies and organisations that do not remit TDS money even after deducting it from their workers’ salaries. The Central Board of Direct Taxes (CBDT), the controlling and administrative authority of the department, has asked all I-T ranges to identify such cases where revenue […]
CIRCULAR NO. 4/2013-Income Tax The deductor, issuing the Part A of Form No. 16 by downloading it from the TRACES Portal, shall, before issuing to the deductee authenticate the correctness of contents mentioned therein and verify the same either by using manual signature or by using digital signature in accordance with sub-rule (6) of Rule 31.
We already have delivered a judgment on 3rd April, 2013 in ITAT No. 20 of 2013, G.A. No. 190 of 2013 (CIT, Kolkata-XI Vs. Crescent Export Syndicates) holding that the views expressed in the case of Merilyn Shipping & Transports (ITA.477/Viz./2008 dated 20.3.2012) were not acceptable.
the commission or brokerage definition does not include transactions in securities. There is no doubt that Mutual Funds are categorised as securities on which there is no objection from the Revenue either before the A.O. or before the CIT(A). In fact the CIT(A) also gives a finding that the A.O. has not disputed that units of Mutual Funds are securities as per Securities Contracts (Regulation) Act, 1956. Assessee is in the business of Mutual Funds distribution and investment agent.
The case of the assessee is that the assessee being an actor-model rendered modelling services for marketing the products of the assessee-payer of the fee. The services since not rendered for production of cinematographic film, the impugned payments are outside the scope of section 194J of the Act. Taking analogy that the “stunt actor” is not an actor, the modelling actor is also not an actor. The definitions and notifications ought not to be extended to cover the modelling services of this kind. These modelling services are not notified by the Central Board of Direct Taxes for the reasons better known to them. Therefore, the fee received directly by the Matrix India-a front company, on behalf of the Ms. Katrina Kaif, who modelled for marketing of the camera-products of the assessee-Kodak, does not constitutes professional services as the said modelling/acting is not done in relation to production of cinematographic film and she is not an actor for this purpose of section 194J of the Act.
