Income Tax : Understand the updated TDS rates for FY 2025-26 (AY 2026-27). Comprehensive chart covering salary, interest, dividends, rent, and ...
Income Tax : Income Tax Bill 2025 introduces changes to TDS, TCS, and LRS provisions, raising threshold limits and reducing compliance burdens....
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 : 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 : Karnataka High Court held that TDS is not deductible on payment to non-residents for advertisements in several social medias like ...
Income Tax : Supreme Court emphasizes reasonable cause for TDS non-deduction under Section 271C. Highlights interplay of Sections 4, 5, 9, and ...
Income Tax : Delhi HC directs Nil TDS for SFDC Ireland citing no Permanent Establishment in India. Clarifies taxation under DTAA and Rule 28AA ...
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 : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
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 ...
ITAT Delhi held that it is an admitted fact that TDS is deducted from the salary and the same is not deposited, Governments claim of TDS stands satisfied under CRP. Hence, non-payment of deducted tax by the employer cannot be ground for rejection of TDS credit to the employee.
Understanding the new TDS on benefits and perquisites u/s 194R introduced in the Finance Act, 2022. Learn about the 10% TDS deduction and its applicability.
Direct & Indirect Taxes : Monthly Updates Date & Time – 3rd December 2022 (Time:11 a.m to 12:30 p.m) Tax Guru is Organizing a 1 and Half Hour Workshop for discussions on ‘Direct & Indirect Taxes : Monthly Updates’ on the following topics- GST – 1. Replying to notices for ITC denial for- A. Mismatch […]
ITAT Chennai held that in case of wastage charges there is no payment and once there is no payment there is no question of deduction of TDS under section 194C of the Income Tax Act.
Applicability of provisions of Section 194Q of the I.T. Act,1961-For transactions in agricultural produce of farmers traded through Commission Agents of recognized Agricultural Produce Market Committee (APMC)-Request to issue guidelines in order to remove genuine hardship and practical difficulties faced by the Commission Agents and Traders
CIT(Appeals) that the CPC has misread the Audit Report because in the Audit Report, it has been specifically mentioned that TDS is being deducted wherever such TDS was required to be deducted on payments made by the assessee. This aspect was not examined, i.e. what is the nature of payment, whether TDS is to be deducted or not? The disallowance cannot be made in a mechanical manner.
Mahesh Urban Co-Operative Bank Ltd Vs ACIT (ITAT Pune) ITAT held that a co-operative bank/ assessee has no liability to deduct TDS on interest payments made to members. We thus delete the impugned section 194A r.w.s. 40 (a)(ia) disallowance of Rs. 2,00,095/- in very terms therefore. FULL TEXT OF THE ORDER OF ITAT PUNE 1. […]
Provisions of section 234E of the Act are substantive in nature and the mechanism for computing the late fee was provided by the Parliament only w.e.f. 01.06.2015. Therefore, late fees u/s 234E of the Act can be levied only prospectively w.e.f. 01.06.2015.
Understand TDS under Section 194R as per CBDT guideline. Learn about the 10% TDS deduction on benefits provided in business or profession.
Key Features – Return Preparation Utility (RPU) version 4.4 e-TDS/TCS Return Preparation Utility Ver. 4.4 for Regular & Correction Statement(s) from FY 2007-08 onwards. 5 new section codes are added under Annexure I (i.e. deductee details) of Form 26Q which are as below: Section Nature of payment (description to be populated for this section code […]
