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 : The 30% Disallowance Trap in Section 35(b) of the Income Tax Act, 2025: When a Wrong TDS Payment Code Under Section 393 Triggers 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 : 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 : ITAT held that interest earned on bank deposits is taxable and not covered by the principle of mutuality. The ruling confirms that...
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....
The ITAT Kolkata has ruled that a legal heir is entitled to claim TDS credit on a deceased person’s income, provided the heir has offered that income for taxation.
AO taxed the said surrendered amount under the provisions of section 115BBE of the Income Tax Act. CIT(A) allowed the appeal of the assessee. Being aggrieved, revenue has preferred the present appeal.
ITAT Ahmedabad partially allows an appeal by Bhikhabhai Hirabhai Patel, reducing late filing fees after ruling that TDS is not applicable to property transfers under Rs. 50 lakhs per transferee.
This article provides a summary of crypto taxation in India, covering the 30% income tax on gains, 1% TDS, and 18% GST on platform services.
The ITAT Ahmedabad ruled that the TDS threshold under Section 194IA applies to the payment made to each individual seller, not the total transaction value.
ITAT Chennai ruled that gold wastage during ornament manufacturing isn’t considered a payment for making charges, so TDS under Section 194C is not applicable.
Learn how to apply for a Lower TDS Deduction Certificate under Section 197. Understand the step-by-step process, required documents, and benefits for your business.
ITAT Delhi addresses AT&T’s appeals, quashing adjustments for notional interest on receivables, mark-up on domestic services, and TDS on seconded employee reimbursements.
ITAT Pune held that disallowance under section 40(a)(ia) of the Income Tax Act cannot be sustained interest income is already reflected in the return of the deductee and tax is already paid on the same. Accordingly, appeal allowed to that extent.
The CBDT has introduced a new mechanism through Circulars 5/2025 and 8/2025 to waive interest on delayed TDS/TCS payments caused by technical glitches, provided specific conditions and timelines are met.
