CA, CS, CMA : Stay updated with the latest legal compliances and key deadlines for November 2024 in India, including FEMA filings and ITR submis...
Income Tax : Learn how to apply for a Lower Tax Deduction Certificate (LTDC) under Section 197 to reduce TDS, improve cash flow, and optimize t...
Income Tax : The Finance Act (No. 2), 2024, has brought a significant change by imposing a time limit on TDS correction statements. Until now, ...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he bre...
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : The PIL challenges the TDS system's constitutionality, citing undue burdens, forced labor, and Article 14, 19, and 21 violations, ...
Income Tax : Government decriminalizes minor direct tax offences, simplifies compliance, and improves litigation management. Key changes includ...
Income Tax : ITAT Chennai held that although the assessee company was following the mercantile system of accounting, only real income could be ...
Income Tax : Orissa HC quashes criminal proceedings against Metaliks Ltd for delayed TDS deposit, citing financial distress and COVID-19 impact...
Income Tax : ITAT Hyderabad rules in favor of Karimnagar DCCB, granting immunity from penalty under Section 270AA. The appeal challenges tax pe...
Income Tax : Orissa High Court quashes TDS prosecution against Yash Marothia, citing delays due to COVID-19 and prior judicial precedent in sim...
Income Tax : Delhi High Court upheld ITAT’s decision in CIT vs. Cargill Global Trading, ruling that discount charges are not interest and not...
Income Tax : No tax deduction required on purchases from IFSC Units under Section 194Q of the Income-tax Act, 1961, with specific conditions fo...
Income Tax : No income tax deduction will apply to payments made to credit guarantee funds managed by NCGTCL, as notified under Section 197A(1F...
Income Tax : No income tax deduction will be made on payments to NCGTCL under Section 197A(1F) of the Income-tax Act, 1961, as notified by the ...
Corporate Law : Ministry clarifies TDS refund transfer to FCRA accounts, stating it’s not a violation and must be reported as "other income" in ...
Income Tax : Govt. issues notification exempting TDS on payments to Credit Guarantee Fund Trust for Micro and Small Enterprises under Income-ta...
Amid disruptive weather conditions, Tax Advocates Association Gujarat pleads for an extension of the Income Tax Return filing deadline from 31st July to 31st Aug 2023.
Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Easy-to-understand guide.
ITAT Jaipur held that invocation of section 263 of the Income Tax Act unjustified as all the details were furnished by the assessee during scrutiny assessment and assessment was completed after detailed enquiry.
Get answers to FAQs on filling up ITR forms for AY 2022-23. Learn about reporting residential status for non-residents, directorship in foreign companies, sale of land, unlisted equity shares, and more. Understand PAN requirements, reporting foreign assets, and details for unlisted foreign companies. Clarifications on PAN reporting for delisted companies and ISIN details for LTCG. Stay informed about specific disclosures for different scenarios and ensure accurate ITR form submissions.
Vijayawada Division’s Income Tax Department warns against false refund claims and wrongful deductions. Learn the consequences and rectify claims now.
ITAT Kolkata orders reassessment of Mohammed Meraj’s case due to the lack of substantiating evidence regarding a mismatch in Form 26AS and Profit & Loss Account in TDS deduction.
Court ruled that the funds in the Term Deposit Accounts were the income of the Government of India and exempt from TDS under Section 196 of the Act. Moreover, the JKSRRDA, being wholly financed by the Central Government, was also eligible for exemption under Notification No. 3489 dated 22.10.1970, despite not being registered under the Central Societies Registration Act.
The ITAT Delhi dismissed an appeal by Yogender Kumar and confirmed the levied late filing fee for a delay in filing a TDS statement, reinforcing the importance of timely compliance with TDS provisions.
In Lease Plan India P Ltd vs. ITO, the ITAT Delhi deletes disallowance of guarantee commission deduction claimed on payment to Associate Enterprise. Understand the impact of this case on associated tax implications.
Greenstar Fertilizers Limited wins case against ACIT in ITAT Chennai, clarifying that payments made to dealers for sales of fertilizers are rebates, not subject to TDS.
