Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...
Income Tax : Understand TDS and TCS compliance deadlines. Learn about deposit dates, return filing schedules, and issuance of certificates to a...
Income Tax : Understand capital gains tax on equity and mutual funds. Learn about short-term and long-term gains, tax rates, exemptions, and st...
Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Release of File Validation Utilities (FVUs) and Return Preparation Utility for e-TDS/TCS Statements File Validation Utility (FVU)...
Income Tax : Receive a reminder from CPC (TDS) to file your TDS Statement 26Q for Quarter 4, F.Y. 2023-24. Understand implications of non-compl...
Income Tax : Learn who can file ITR-7, how to file it, required information, and mandatory schedules. Detailed guide for assessees under variou...
Income Tax : ITAT Delhi rules Section 56(2)(vii) inapplicable to non-residents, deleting Rs. 9.31 Cr addition for APL Logistics Vascor Automoti...
Service Tax : Explore the detailed analysis of Indian Additives Ltd vs Commissioner of GST & Central Excise. CESTAT Chennai rules no service tax...
Income Tax : Calcutta High Court rules in favor of Vodafone Idea Limited, stating no TDS is required on payments received by distributors/franc...
Income Tax : Gujarat High Court rules in favor of Bharti Airtel Ltd, stating distributor discounts are not subject to TDS under Section 194 of ...
Income Tax : Explore the ITAT Mumbai's decision on payments to retiring partners by Deloitte Haskins and Sells LLP. Understand why it's not con...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Income Tax : Learn about CBDT Circular No. 6/2024 offering relief to TDS deductors for transactions up to March 31, 2024, when PAN becomes oper...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
Income Tax : Discover the latest Circular from the Ministry of Finance, India, outlining measures to reduce tax litigation by specifying condit...
Income Tax : Get details on Circular No. 04/2024 by CBTD. Ex-post facto extension for Form No. 26QE due date till 30.05.2023. Waiver of fees an...
TDS credit was allowed as the commission income was not managerial service under India Germany Double Taxation Avoidance Agreement (DTAA).
Understand Section 194R of the Income Tax Act, 1961. Learn about the obligation to deduct tax at source on benefits provided to residents.
Understand the provisions of TDS u/s 194C on payments to contractors. Learn about who is liable to deduct tax and how to deposit it in the government treasury.
CIT International Taxation Vs Air India Ltd. (Delhi High Court) Whether ITAT has erred in holding that the rate of deduction of tax in the case of a non-resident who does not have a PAN and whose case does not lie in the exceptions laid down in Sub-Section 7 of Section 206AA of the Act […]
Viral Ashish Parikh Vs ACIT (ITAT Ahmedabad) it is transpired that the assessee can be granted immunity from disallowances of expenses on account of non/short deduction of taxes provided that the assessee (payer) furnishes the certificate in the prescribed form. Thus the onus is upon the assessee. However we find that assessee has not furnished […]
ITAT Chandigarh held that the aggregator/ intermediary (OLA) acts merely as an intermediary and hence not liable to deduct TDS u/s 194C on payments made to drivers.
Circular No. 723 dated 19.09.1995 – Section 172 applies to payments made to agents of foreign shipping companies so, section 194C not applies
Explore the latest insights on TDS under section 194R through a detailed analysis of new clarifications issued on 13th Sept. 2022 in Circular No. 18 of 2022-Income Tax. Uncover provisions, applicability, and nuances related to TDS on Business Promotion Expenses, addressing questions on various benefits, perks, and scenarios. Stay informed on the effective date and key considerations for compliance with the amended provisions.
Explore the additional guidelines under Section 194R of the Income Tax Act, 1961 introduced by the Finance Act 2022. Learn about TDS, criteria, and exemptions. Delve into CBDT Circular 18 of 2022, covering aspects like loan settlement, expenses incurred by a pure agent, out-of-pocket expenses, group activities, and more. Stay informed on TDS exemptions for specific organizations and on bonus or right shares issued by companies with public interest. Stay compliant and make informed financial decisions.
Explore the latest guidelines on TDS under Section 194R with insights from CBDT Circular No. 18 of 2022. Understand exemptions for one-time loan settlements, reimbursement of out-of-pocket expenses, and the impact on dealer conferences. Stay informed on issues like claiming depreciation, applicability to Embassies/High Commissions, and the treatment of bonus/right shares issuance. Disclaimer: This article offers general guidance; consult a tax professional for personalized advice based on your specific circumstances.
