In a ruling granting TDS relief to the telecom giants, Vodafone, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that TDS provisions under section 194H of the Income Tax Act, 1961 is...
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the income tax department should allow credit of TDS paid by the society who collects rent on behalf of the...
The High Court of Madras directed the Registry to place this matter before the Hon’ble Chief Justice for considering the issues for resolution by a larger bench. Meanwhile, the insurance company was directed to deposit...
In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates of Tax Deduction at Source (TDS) for the following non-salaried...
In order to provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source ( TDS ) for non-salaried specified payments made to residents and rates of Tax Collection at...
The Income Tax Appellate Tribunal (ITAT) held that Section 194C of the Income Tax Act, 1961 relating to Tax Deducted at Source (TDS) is not applicable to reimbursement of vehicle expenses. A vehicle was provided...
The Western India Regional Council of Institute of Chartered Accountants of India (ICAI), on Friday wrote a letter to the Chief Minister of Maharashtra, Uddhav Thackeray on the subject-matter that services provided by Chartered Accountants...
The Central Board of Direct Taxes (CBDT) issued a circular on Monday to clarify options under Section 115AC of the Income Tax Act, 1961. Recently, Section 115BAC of the Income-tax Act, 1961 was inserted by...
The Central Board of Direct Taxes (CBDT) issued clarification on issuance for lower rate or nil deduction or collection of Tax Deduction at Source (TDS) or Tax Collected at Source (TCS). The board received the...
The Myntra has invited application from a qualified Chartered Accountant with post qualification experience between 1.5 to 2.5 years. The Myntra is an Indian fashion e-commerce company headquartered in Bengaluru, Karnataka, India. The company was...
The Rajasthan Authority of Advance Ruling (AAR) ruled the remuneration paid to the directors are liable for the Reverse Charge Mechanism (RCM) under Goods and Service Tax (GST). In an application filed before the Rajasthan...
In order to curb the difficulties caused to the coronavirus pandemic, the Central Board of Direct Taxes (CBDT) has directed all the TDS assessing officers to dispose of the applications through e-mail. An order issued...
In order to overcome the issues caused due to the COVID-19 outbreak and the lockdown period, the Central Board of Direct Taxes (CBDT) has extended the validity of Forms 15G and 15H of FY 2019-20...
In the wake of the outbreak of Coronavirus (COVID-19), the Central Board of Direct Tax (CBDT) has issued the directions on regarding the issue of certificates for lower rate/ nil deduction/ collection of Tax Deducted...
The Ministry of Finance has notified the Finance Act 2020amid the Corona Virus ( COVID-19 ) outbreak. Key Highlights Expenditure: The government proposes to spend Rs 30,42,230 crore in 2020-21, which is 12.7% higher than...
The Income Tax Appellate Tribunal (ITAT), Mumbai held that the payment made by Volkswagen (Indian Company) to a Foreign Celebrity for appearance outside India is taxable. In the case of Volkswagen Finance Pvt Ltd. vs....
In a video press conference conducted by Finance Minister Nirmala Sitharaman, today announced the extension of the deadline of Income Tax Returns for the Financial Year 2018-19 from 31st March, 2020 to 30th June, 2020....
The West Bengal Authority for Advance Ruling (AAR) has held that the Public health, sanitation, conservancy, and solid waste management that such service is a function of ‘public health’ entrusted to Municipalities under Article 243W...
While directing an order for a late fee on TDS default, the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the fee cannot be made prior to 1st June 2015 which is the...
While granting tax relief to Kolkata based professional football team, the Income Tax Appellate Tribunal (ITAT) observed that the payments to the professional football players are truly based on their talent and capacity and if...
The Central Board of Direct Tax (CBDT) has modified the ‘method of tax collection’ from salary under the Income Tax Act for the financial year 2019-20. On March 5, 2020, a circular was issued in...
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