Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
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...
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....
An overview o the Lower Deduction Certificate (LDC) under Section 197. Learn who can apply, the benefits for cash flow, and the online application process via TRACES.
Delhi High Court held that consideration for the resale/use of computer software through EULAs/distribution agreement is not Royalty for the use of copyright of the computer software and hence doesn’t give rise to any taxable income in India.
Understand TDS obligations on payments to non-residents in India. Learn about Section 195 DTAA documentation and the consequences of non-compliance.
The Delhi High Court ruled that Common Area Maintenance (CAM) charges are subject to TDS under Section 194C, not Section 194I, as they are for services and not rent.
Delhi High Court dismisses an appeal from the PCIT, upholding the acquittal of an assessee in a prosecution case for failure to file returns under Section 276CC.
Understand the impact of Section 194T, which mandates a 10% TDS on payments to partners by firms and LLPs, effective from April 1, 2025. This summary covers its applicability, rates, and challenges.
ITAT Mumbai holds that payments for foreign bandwidth do not attract TDS; also upholds deduction u/s 80G for CSR donations not claimed under Section 37.
ITAT Pune held that interest income on enhanced compensation is contingent and hence not taxable under section 56(2)(viii) of the Income Tax Act. Accordingly, appeal of assessee allowed and order set aside.
Get ready for the changes in TDS and TCS provisions applicable for FY 2025-2026 to ensure compliance in your financial transactions.
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.
