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 : The new Income Tax Act largely retains existing TDS rules on property transactions but significantly simplifies compliance for buy...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for June 2026. It highlights filing requirements under income ta...
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 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 Court held that compensation paid to workmen under a Government-approved closure package was exempt under the second proviso t...
Income Tax : The ITAT Bangalore held that disallowance under Section 40(a)(i) could not survive once the recipient of the income settled the ta...
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....
Effective April 1, 2026, the statutory limit for correcting TDS/TCS returns is 2 years from the FY end. This new rule eliminates unlimited revisions, demanding timely compliance to avoid penalties and blocked refunds.
ITAT Kolkata ruled that payments for composing and DTP work are contractual, not technical services, and thus taxable under Section 194C, not Section 194J of Income Tax Act.
Section 194T, effective April 2025, mandates a 10% TDS on firms’ payments (salary, interest, etc.) to partners exceeding ₹20,000 annually. New rules create compliance and non-resident ambiguity.
Understand key provisions of advance tax under the Income Tax Act — who is liable, due dates, revision of estimates, payment procedure, capital gains treatment, TDS credit, Form 28A requirements, and computation rules.
Know about TAN under Section 203A of the Income Tax Act—its purpose, applicability, application process, forms, penalties, and key rules for TDS/TCS deductors and collectors in India.
The ITAT Delhi ruled that External Development Charges (EDC) paid by a real estate developer to HUDA are statutory government levies, not payments for the use of land. Following High Court and Supreme Court precedents, the Tribunal confirmed that Section 194I (TDS on rent) is not applicable to EDC payments.
ITAT Chennai allowed the appeal of MLS Enterprises for statistical purposes, subject to a ₹10,000 cost, restoring the matter to the CIT(A). The central issue is the prospective nature of the Section 234E penalty levied under Section 200A.
ITAT Pune ruled that the CPC erred in restricting TDS credit for a cooperative society based on a turnover mismatch in Form 26AS. The difference was due to the same sale being subjected to double TDS under both Section 194-O and Section 194-Q, wrongly inflating the receipts and TDS entries.
ITAT Indore deleted a Rs.1.46 crore addition made under Section 69C via rectification, ruling that the AO wrongly invoked the section. The commission payments reported in the audit form were a pass-through on behalf of clients, not the assessee’s claimed business expenditure, meaning the deduction of TDS didn’t imply an unrecorded expense.
Learn about Tax Deducted at Source (TDS), its purpose, scope, and the applicable deduction rates for FY 2025-26 under various sections for residents, non-residents, and companies.
