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....
We can blame it on abbreviation , but TDS ( Tax Deducted at Source ) rhymes with TEDIOUS, as if reflecting the plight of Tax Payers and Tax practitioners. This is the most convenient way of collecting Income Tax by creating legal obligation on person making certain payments.
Cases, where the tax deducted is between Rs.25,000 and Rs. 1,00,000 and the same is not deposited by the due date prescribed under the Income Tax Act, 1961 read with the Income Tax Rules, 1962 may be processed for prosecution depending
Fr. Sabu P.Thomas Vs Union of India (Kerala High Court) The receipts in question, in the instant cases, are amounts by way of salary and pension. These payments accrue to the individuals concerned, who have rendered service in their individual capacity and based on the educational qualifications and skills possessed by them as individuals. The […]
The Project marks a major step in ensuring TDS compliance through the processing of TDS returns and comprehensive data processing of TDS statements using technology driven end-to-end processes. At present 15 Lakh deductors and 2.5 crore tax payers are using various e-enabled online services through the CPC (TDS).
The provisions of section 40(a)(ia) of the Act has two limbs one is where, inter alia, assessee has to deduct tax and the second where after deducting tax, inter alia, the assessee has to pay into Government Account.
Nowadays Centralized Processing Cell (TDS) is intimating discrepancies observed with respect to TAN of the deductors in the ‘TDS claimed by the taxpayers in their Income Tax Returns’ vis-á-vis ‘Tax Credits available as per 26AS Statements’, for the Financial Years 2011, 2012 and 2013.
It is not disputed that tax was deducted at source by the tenant Union Motors Services Limited and they have issued some Certificates which has been given credit to by the Department. The present dispute relates to the failure of non issuance of TDS certificates by the tenant.
The Short Payment Defaults are generally due to ‘Insufficient Challans’, which could be due to the following reasons: You have adequate balance available in OLTAS challans, however, some other challans may have been incorrectly used, which are already consumed. You have tried to consume more than the available challan amount for reporting TDS deducted in […]
7 January 2015 Due date for deposit of Tax deducted/collected for the month of December, 2014 7 January 2015 Due date for deposit of TDS for the period October 2014 to December 2014 when Assessing Officer has permitted quarterly deposit of TDS under sections 192, 194A, 194D or 194H.
Himachal Pradesh High Court in the case of CIT vs. State Bank of Patiala held that the exemption notification issued by Central Govt. allowing non-deduction of TDS in case of certain deductees has an automatic effect as soon as the same is issued and there is no such requirement in the act to obliging deductor to specifically apply for availing the benefit under that notification.
