Income Tax : The new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but co...
Income Tax : The new rules replace old form numbers with a structured sequence across categories. The update simplifies compliance and improves...
Income Tax : Tax authorities are increasingly questioning decision logic behind TDS deductions. The lack of recorded reasoning in ERPs makes co...
Income Tax : The new law replaces the 1961 Act without introducing new taxes or changing tax policy. It simplifies provisions, reduces complexi...
Income Tax : The case highlights that TDS applies to multiple income categories including salary, interest, and contracts. It reiterates that f...
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 : Stakeholder-wise and thematic overview of Budget 2026 tax reform proposals covering farmers, MSMEs, corporates, NRIs, exporters, a...
Income Tax : The C&AG’s audits ensure proper assessment, collection, and allocation of direct taxes, identifying evasion risks and improving ...
Income Tax : Karnataka High Court flags catch-22 in TDS prosecution of ex-MD post-liquidation; directs Official Liquidator to act on representa...
Income Tax : The Tribunal held that consultancy payments for architectural services were not FTS since no technical knowledge was made availabl...
Income Tax : The Tribunal held that TDS credit must be granted in the year in which the related income is assessed, even if it is not reflected...
Income Tax : Expenses incurred for a proposed business project later abandoned were allowed as revenue expenditure. The Tribunal held that such...
Income Tax : The case examines whether estimated expense disallowances can be made without rejecting books of account. ITAT held such additions...
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....
It is an important aspect to be examined whether Recipient- Assessee has directly paid tax or has no liability of tax at all. Since this aspect was not examined by Assessing Authority, therefore, in our view, Tribunal has rightly remanded matter to Assessing Authority to examine this aspect.
What was common to both the provisos to section 40(a)(ia) and section 210(1) was that as long as the payee/resident had filed its return of income disclosing the payment received by and in which the income earned by it was embedded and had also paid tax on such income, the assessee would not be treated as a person in default.
Out of these four appeals two appeals are filed by the assessee while the other two appeals are filed by the Revenue for against the orders of the CIT(A) – 4, Mumbai dated 13.02.2017 and 06.02.2017 for assessment years 2011-12 and 2012-13 respectively.
Where on account of an inadvertent error, PAN of the deductee was wrongly mentioned by assessee, in TDS return, AO was not justified in not permitting the assessee to correct PAN of the deductee, putting the limitation of permitting corrections of only four characters. The case was, therefore, remanded.
TDS requirement under section 194C is not applicable to transactions of purchase of goods, therefore, no disallowance under section 40(a)(ia) could be made.
These are 16 appeals by the Revenue under section 260A of the Income Tax Act, 1961 (Act). 8 of them are quantum appeals and the remaining 8 are penalty appeals. As far as the quantum appeals are concerned, these are ITA Nos. 73, 75, 77, 78, 82, 86, 113 and 123 of 2005 which are directed against the common order dated 16-3-2004
Addition of new field i.e. Goods and Service Tax Number (GSTN) under form page of TDS/TCS statements -15 digit alpha-numeric value to be entered under this field. Applicable for regular and correction statements pertains to all forms and FYs.
Facts of the case, in brief, are that the assessee is a partnership firm engaged in the business of manufacturing and export of plain and studded Gold and Silver jewellery. It filed its return of income on 29.09.2010 declaring taxable income of Rs.2,83,03,490/-. During the course of assessment proceedings, the Assessing Officer observed that the assessee has debited expenses under the head Foreign Agency Commission amounting to Rs.62,12,609/-.
This article is an attempt to answer whether GST is payable on reverse charge basis on the TDS amount in case of payments made for import services where the invoice is raised net of TDS.
TDS Deductor Registration Has been enabled on GST Portal Now you can apply GST TDS Deductor Registration from today. Text of Relevant Section 51 of Central Goods and Services Tax Act, 2017 is as follows :- 51. Tax deduction at source. (1) Notwithstanding anything to the contrary contained in this Act, the Government may mandate,–– (a) […]
