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....
Procedure, format and standards for filing an application for grant of certificate for deduction of Income-tax at any lower rate or no deduction of Income-tax under sub-section (1) of Section 197/collection of the tax at any lower rate under sub-section (9) of Section 206C of the Income-tax Act, 1961 through TRACES
Since assessee had a reasonable cause for non-deduction of TDS, penalty u/s 271C not leviable in terms of section 273B.
Shri Rahul Singhal Vs ITO (ITAT Jaipur) This appeal by the assessee is directed against the order dated 02/07/2018 of ld. CIT (A)-3, Jaipur for the A.Y. 2014-14. The assessee has raised following grounds of appeal: “1. The impugned additions and disallowances made in the order U/s 143(3) of the Act dated 29/12/2016 are bad […]
E-commerce platforms have been a major boon for new and budding companies, providing pan India customer base and a host of other services in helping them grow. However, working with e-commerce platforms attract lots of compliance issues and complexities which one might be caught unaware.
In the last part of this summary, we have learned about the basic meaning of TDS, some concepts which were very useful and commonly applied on all sections, and the various sections under which the TDS is being deducted. Read- TDS – Quick and Complete Summary [Part-I] Now, In the Part-II, we will get the […]
Provision of the Act were written in a progressive manner which allows the non-residents to take away the rightfully earned money without any tax deduction provided that they make an application to the Assessing Officer u/s 197 of the Act in the prescribed form (i.e. Form 13).
In some manner, all of us must have somehow come across the Tax Deductions, be it on Salary, on Fees or any other kind of payments. But people are very less aware of the various situations and the law governing TDS. What are the limits up to which TDS should not be deducted? What are the troubles of […]
Connection between GST and TDS We all are familiar with the concept of TDS in respect to Direct Tax, now with GST in force there is a provision for deduction of tax in Indirect Tax too. Let us know more about the combination of TDS and Indirect Tax (GST). The government has notified 1st of […]
Income-tax Act provides that no tax deduction at source under section 194A shall be made in the case of Senior Citizens where the amount of such income or, the aggregate of the amounts of such income credited or paid during the financial year does not exceed fifty thousand rupees.
EPRSS Prepaid Recharge Services India Pvt. Ltd. Vs ITO (ITAT Pune) Tribunal further observed that there was no amendment in the DTAA between the two countries analogous to the Explanation 5 to section 9(1) of the Act and accordingly Amazon was not chargeable to tax in respect of Web hosting charges received from the assessee […]
