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....
Form 24G Return Preparation Utility (RPU) and File Validation Utility (FVU) Version 1.4 for the Form 24G Statements from FY 2005-06 onwards released (26/12/2014) Key features of NSDL Return Preparation Utility (RPU) version 1.4 · Quoting of structurally valid TAN of DDO: Quoting of structurally invalid TAN of DDO has been discontinued i.e., values quoted, […]
On the income tax side, countless assessees have faced difficulties owing to the tendency on the part of the assessing officers to arbitrarily adjust refunds against demands, many of them artificially created, without any reference to the assessees, which is a most unjust and unreasonable approach. The magnitude of the harassment resulting from the non-matching […]
CA Avinash Rawane Presentation Contains the details as under: Brief provisions of TDS; Step by Step system Processing of TDS Returns by CPC; Slides containing description as to how to File Online e-TDS correction statements; Advantages of Online e-TDS Correction Statements; Changes in the System of Processing of e-TDS Statements;
e-TDS/TCS FVU version 4.5 for quarterly e-TDS/TCS statement pertaining to FY 2010-11 onwards and e-TDS/TCS FVU version 2.141 from FY 2007-08 to FY 2009-10 released and made available on NSDL website wef 20.12.2014.
e-TDS/TCS RPU (Version 4.2) for Statements from FY 2007-08 onwards released and made available on NSDL website wef 20.12.2014 Key features of RPU version 4.2 1. Allow update in field in Form no. 27Q “Whether TDS rate of TDS is IT act (a) and DTAA (b)” where the tax has been deducted at higher rate.
It is proposed to release new version of NSDL Return Preparation Utility (RPU) and File Validation Utility (FVU) incorporating the below features: Features of NSDL RPU Allow update in field in Form no. 27Q ‘Whether TDS rate of TDS is IT act (a) and DTAA (b)’ where the tax has been deducted at higher rate. […]
As per the records of Centralized Processing Cell (TDS), there are many deductors who have filed TDS return for different quarters, but not not yet registered on the web portal TRACES Such Un-registered Deductor will not be able to download TDS Certificates (Form 16/ 16A) and avail several other facilities offered by TRACES unless they […]
We are glad to inform that the Online Correction functionality provided by CPC (TDS) has been availed by a large number of deductors for the purpose of carrying out corrections and over 2 Lakh Online Corrections have been submitted. The corrections include resolution of Short Payment Defaults that relate with unmatched challans.
As per the records of the Centralized Processing Cell (TDS), there is an outstanding demand in different years from 2007-08 onwards on account of defaults identified in TDS statements. Table below shows year wise outstanding demand on account TDS defaults as on October 23rd 2014.
The assessee is a Chartered Accountant carrying on his profession under the partnership firm M/s. Tiwari & Co. for and from the year 1983. The partnership firm M/s. Tiwari & Co. got dissolved w.e.f. 30.12.2006 and assessee became proprietor of this firm.
