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...
ITAT Mumbai remanded the matter for adjudication of bona fide belief of TDS exemption in case of LTC relating to foreign travel vis-à-vis default u/s 201(1) and 201(1A) of the Income Tax Act.
ITAT Bangalore held that reimbursement of salary for seconded employee cannot be regarded as ‘Fee for technical services’ (FTS) under India-US Tax Treaty (DTAA).
Explore the intricate details of TDS disallowance and partner salary/interest under Section 40 of the Income Tax Act, 1961. Gain insights into provisions addressing non-deduction/payment of TDS, disallowances for excessive payments to partners, and key considerations for tax compliance. Navigate the complexities with our comprehensive summary for accurate understanding and compliance.
Navigate influencer marketing tax compliance in India for private limited companies with our step-by-step guide. Learn about payment categorization, income tax implications for influencers, deductibility for companies, TDS obligations, filing and compliance, bookkeeping, documentation, and GST implications. Stay informed to ensure accurate tax compliance in the evolving landscape of influencer marketing payments.
ITAT Pune held that late fees u/s 234E of the Income Tax Act can be levied only prospectively with effect from 01.06.2015.
ITAT Pune rules that fee for default in TDS statement under Section 234E of the Income Tax Act applies only after June 1, 2015.
Article explores Section 192(1C) of Income-tax Act, which permits eligible start-ups to deduct or pay tax on ESOP perquisite within 14 days of specified events. Criteria for being an ‘eligible start-up’ and benefits associated with this provision will be discussed.
As a professional in the field of taxation, I understand that mistakes happen, even in the most diligent processes. If you’ve made an error in your TDS challan, it’s essential to rectify it promptly to ensure accurate tax compliance.
Chennai ITAT dismisses Revenue’s appeal against Kovai Medical Centre and Hospital Limited. Consultant doctors’ payments subjected to Section 194J, not 192, due to lack of employer-employee relationship.
TDS is not applicable on the scrap value retained by the job worker in the given scenario. The payment subject to TDS should be based solely on the invoice value, as the work involved is the cutting of material into small pieces and the payable/payment is equivalent to the invoice value.
