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....
Madras High Court condones appeal delay in Gopuram case, citing legal uncertainty over Sec 234E applicability for AYs prior to June 2015.
In Financial Year (FY) 2024–25, a change in the applicable TDS rate on rent under Section 194-IB has created confusion among many tenants and property managers. Specifically, if rent payments after October 1, 2024, are subject to a reduced TDS rate of 2% instead of 5%, but you mistakenly deducted or deposited tax at the […]
ITAT Agra deletes penalty on State Bank of India for short TDS on LFC with foreign leg, citing bona fide belief and Supreme Court ruling on penalty.
A detailed breakdown of TDS rates for AY 2025-26 based on income categories, including interest, winnings, royalty, dividends, and more.
Tribunal had set aside an order by CIT (Appeals) directing AO to recalculate the Tax Deducted at Source (TDS) demand under section 194 C as the original demand had already been nullified by the Delhi High Court, making the CIT(A)’s directions untenable and CIT(A) erred by ignoring the High Court’s judgment and basing its decision on a different TDS provision (Section 194C) than the one applied by the AO (Section 194I).
Understand Section 194T on TDS for partner payments by firms, effective from 1 April 2025. Know applicable payments, rates, thresholds, and compliance steps.
ITAT Jaipur held that matter is fit to remand back to file of AO since assessee has sufficient reason to establish non-deduction of tax, however, the evidences were not furnished before lower authority. Accordingly, appeal allowed and matter remanded.
Kerala HC directs ITAT to decide Amrita Institute’s appeal on TDS applicability (Sec 192 vs 194J) for payments to engaged doctors.
Patna High Court held that compounding charge should be deposited by the petitioner abiding his statement and issue of apportionment of compounding charges should be considered by the Secretary, Rural Works Department.
Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections for easy reference.
