The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while remitting the matter back to the AO held that the disallowance cannot be more than the income earned by the assessee. The assessee, Oman International Bank...
Gambling is nothing new to Indians with games such as Teen Patti being an instrumental part of our major festivals like Diwali. However, the legality of gambling and its taxation in India is a tricky...
The Finance Act, 2020 has inserted Section 194-O which elaborates on levying 1% Tax Deducted at Source (TDS) on Payments made to E-Commerce Participants, which will be applicable for the transactions from 1st October 2020...
Flipkart has invited applications for the post of Director (Taxation). Flipkart is India’s largest online market place and one of India’s leading technology powerhouse that is disrupting the way India shops online. Education/Qualification Chartered Accountant,...
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, while upholding the order of the CIT(A) deleted the disallowance representing customer support charges against Dish TV India Limited. The assessee, Dish TV India Limited is a...
The Central Board of Direct Taxes ( CBDT ) in exercise of powers conferred under section 138(1)(a) of Income Tax Act, 1961, has issued Order inF.No. 225/136/2020/ITA.II dated 31.08.2020, for furnishing information about ITR Filing...
The Income Tax Appellate Tribunal (ITAT) while directing the Assessing Officer (AO) to quantify the refund held that TDS deducted on offshore supply contracts in India, assesses eligible for refund of TDS Credit. The assessee...
The Himachal Pradesh High Court held that delayed payment of interest on delayed refund becomes part of the principal amount will be eligible for interest under Section 244A. The respondent Society, M/s Solan District Truck...
The NABARD Consultancy Services (NABCONS), a wholly-owned subsidiary of NABARD and a leading consultancy organization in the field of agriculture and rural development (www.nabcons.com) has invited applications from interested candidates for the post of Senior...
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that payment of TDS would relate back to the date of presentation of cheques to the banker and directed TDS-CPC to re-compute interest payable by Standard...
The Delhi High Court, on Tuesday, disposed-off a plea by Mastercard after the Income Tax Department conceded that no equalization fee will be paid in case of Permanent Establishment (PE). Introduced in 2016, Equalisation Levy,...
The Income Tax Appellate Tribunal (ITAT), Delhi Bench directed the matter back to the AO for its examination and said that the relocation expenses in respect of salary paid to employees who traveled abroad for...
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the Assessee, Next Gen Films Pvt. Ltd. is not the Permanent Establishment (PE) of a UK based non-resident corporate entity and so no demand of...
Senior Indian Revenue Service officer Shri. Patanjali has assumed charge as Principal Chief Commissioner of Income Tax, Mumbai today, 10th August 2020. Prior to this, he was holding the post of Director General of Income Tax...
The Birla Institute of Technology & Science, (BITS Pilani) has invited applications from eligible candidates for various posts. The Birla Institute of Technology & Science, (BITS Pilani) is an Institution declared as Deemed to be...
The Supreme Court held that the individuals must deduct TDS on payments to contractors even in the absence of a contract. The assessee-appellant, Choudhary Transport Company is a partnership firm, had entered into a contract...
The Income Tax Appellate Tribunal (ITAT), Delhi bench has recently deleted an addition against Honda Cars India holding that the provisions of deduction of tax at source (TDS) would not be applicable in case of...
The Income Tax Appellate Tribunal (ITAT) held that the Amendment dated June 01, 2015, in the processing of statement of tax deducted at source under Section 200 A of the Income Tax Act, 1961 is...
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the advertisement charges paid to an agency which is a franchisee of a newspaper would attract TDS under section 194 of the Income Tax...
The Central Board of Direct Taxes ( CBDT ) on Monday notified clarification in relation to the notification issued under clause (v) of the proviso to section 194N of the Income Tax Act, 1961 prior...
The Income Tax Department is all set to start an e-campaign on the voluntary compliance of Income Tax for the convenience of taxpayers from Monday, the 20th of July, 2020. The 11 days campaign ending...
© 2020 Taxscan | Simplifying Tax Laws