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....
The Finance Bill, 2025 proposes reducing TDS under Section 194LBC from 25-30% to 10% for income from securitisation trusts, effective April 1, 2025.
Union Budget 2025-26 introduces tax reforms, revised income tax slabs, increased rebate under Section 87A, and changes in TDS/TCS rules for taxpayers.
Union Budget 2025 revises income tax slabs, raising the exemption limit to ₹12 lakh. Learn about new rates, Section 87A rebate, and TDS/TCS threshold updates.
Finance Bill 2025 removes higher TDS/TCS for non-filers, effective from April 1, 2025, easing compliance burdens, though higher rates for invalid PAN will remain.
Finance Bill 2025 proposes changes in TDS/TCS rates and thresholds, effective from April 1, 2025, to improve tax compliance and ease of doing business.
Understand the audit requirements for trusts under Form 10B/10BB, including due dates, filing process, clauses, and key differences to ensure compliance and tax exemption.
ITAT Mumbai rules that if TDS on jointly owned property is deposited in the husband’s name and wife does not claim it, full TDS credit should be granted to the husband.
Explore corporate tax reforms expected in Union Budget 2025-26, including CSR deductions, TDS rationalization, MSME payment rules, and start-up incentives.
ITAT Ahmedabad directs AO to verify Form 26AS discrepancy after CIT(A) allowed ₹168.61 crore TDS credit. Revenue’s appeal dismissed as infructuous.
The Orissa High Court quashed prosecution against Kashvi International for delayed TDS deposit, citing COVID-19 and financial hardship as reasonable causes.
