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....
Important Information on Online Correction All type of corrections like “Personal information , Deductee details and Challan correction” can be made using Online correction functionality available from FY.2007-08 onwards depending upon the type of correction This feature is extremely useful as it is : Free of Cost :TRACES does not charge any fee for doing […]
Airport Retail P. Ltd. Vs DCIT (ITAT Mumbai) Conclusion: Payments towards bank charges for credit card payments were not liable for TDS under section 194H as the same was not a commission. Held: Assessee had made payments towards bank charges for credit card payments . AO made the additions as assessee made payment without deduction […]
Article explains Important Information on Online Correction, Most Common Error While filing Online Correction, Brief Steps for Online Correction – Resolution for Overbooked Challan (Movement of deductee row), Status of Online Correction Requests and Process for Online Correction Resolution for Overbooked TDS/TCS Challan. Online Correction-Resolution for Overbooked Challan (Movement of deductee row) Important Information on […]
Article explains Important Information on Download of Section 197 Nil or Lower rate deduction Certificate, Brief Steps for Downloading Section 197 Certificate (Deductor’s Inbox), Procedure to download Section 197 Certificate (Deductor’s Inbox), Brief Steps for Downloading 197 Certificate (Deductor’s Downloads Menu), Procedure to download 197 Certificate (Deductor’s Downloads Menu) and Sample of 197 Certificate. 1. […]
Article contains Brief Steps for Downloading Form 27D, Important Information on Form 27D and Pictorial Guide for Downloading Form 27D and 27D PDF Converter Utility V1.0. 1. Brief Steps for Downloading “Form 27D”. Step 1: Login to TRACES website by entering the “User ID, Password ,TAN of the Deductor and the Verification Code”. Step 2: […]
Brief Steps for Downloading of Transaction Based Report (TBR) ♣ Please check statement status under ‘Statement /Payment Tab’ before raising the request for TBR. Request for Downloading TBR can only be submitted when statement Status is either “Processed with Default” or “Processed without Default”. ♣ Financial Year, Form type and Quarter for which KYC required […]
Utilities available on TRACES: PDF Convertor utility V 1.4 L – To convert Form 16/16A into PDF this utility is required . System specifications to run this utility are JAVA 8 update 45, JRE 1.7 or above , Pop up blocker should be enabled . Transaction Based Report PDF Convertor V1.1 – To convert Transaction based Report […]
How to download Traces PDF Generation Utility to convert Form 16 / 16A text files into PDF Traces PDF Converter V1.3L Light Version All content in this e-tutorial are purely for information purpose. All names may be trademarks of their respective owners. Login to TRACES Downloading Utility After Logging In (contd.) – Landing Page – – […]
Article contains A. E-Tutorial on Deductor Registration and Login (1. Brief Steps for Deductor Registration and Login 2. Important Information on Deductor Registration and Login. 3. Pictorial Guide for Deductor Registration and Login) , B. E-Tutorial on Deductor Forgot User Id (1. Brief Steps : Forgot User ID 2. Important Information on Forgot User ID […]
Article contains Brief Steps for Downloading Form 16, Important Information on Form 16 and Pictorial Guide for Downloading Form 16 and PDF Converter Utility V1.4 L. 1. Brief Steps for Downloading “Form 16”. Step 1: Login to TRACES website by entering the “User ID, Password ,TAN of the Deductor and the Verification Code”. Step 2: […]
