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....
Extension of time limit for filing of TDS Return As the filing of e-TDS returns is an onerous task, it is very difficult for assessees to collate and compile all the voluminous data/information for filing of TDS returns within 15 days from the end of the relevant quarter. Further, as the payment challans from banks […]
Even in the e-filing era, the assessees are overburdened with the compliances to be made with regard to filing of returns and payment schedules. An assessee is required to file quarterly returns relating to TDS on salaries, Quarterly returns relating to TDS on amounts other than salary, and quarterly returns relating to TCS. These are […]
At present, no online grievance handling mechanism is in existence to resolve the difficulties being faced by assessees relating to TDS or E-filing of income-tax returns. To enable the assessees to seek early resolution of their queries within a short span of time, it is suggested that an online portal may be created wherein the […]
Form No.15G/15H is a form of declaration that has been prescribed for those persons who desire to receive certain specified income without deduction of tax at source. These forms can be used only if the aggregate income of the person making declaration does not exceed the maximum amount not chargeable to tax.
Generate PDF automatically or Print automatically saving human time, energy and resources In my earlier Article How to send form 16, Form 16A and other Forms automatically , we saw how Form 16/16A can be sent to the Deductees automatically saving human time, energy and resources! Here you will see generating PDF and Printing automatically […]
In our view, though Form 26AS (r/w r.3 1AB and ss. 203AA and 206C(5)) represents a part of a wholesome procedure designed by the Revenue for accounting of TDS (and TCS), the burden of proving as to why the said Form (Statement) does not reflect the details of the entire tax deducted at source for and on behalf of a deductee cannot be placed on an assessee-deductee.
CPC(TDS) apprises you that the current period marks the busiest weeks of downloading and distributing TDS Certificates for Q4, FY 2013-14. This also marks a peak time in the number of calls and queries to CPC(TDS). We encourage deductors to visit TRACES as the best place to get quick help to find answers to frequently […]
CPC(TDS) feels glad to provide you with the new feature of downloading Form 27D, the Tax Collection Certificate for Deductees forming part of TCS Statements, filed in the form of 27EQ. Centralized Processing Cell (TDS) has observed from its records that Flag “B” (for 15G/H Forms) has been wrongly raised in the quarterly TDS Statements […]
With effect from June 1,2014,Deductors/Collectors need not submit copy of Provisional Receipt of original statement and Statement Statistics Report (SSR) for furnishing e-TDS/TCS correction statement.
Let us say you want to send Salary Slips to Employees on a monthly basis or Form 16 to Employees on a yearly basis or Form 16A to Deductees on a quarterly basis or any other Personnel specific attachment. Many Companies/Businesses send these Forms in hard copy by couriering it to the receiving Party which calls for the Courier cost and the company’s resources.
