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NSDL latest e-TDS TCS RPU Version 5.9 from FY 2007-08 NSDL has revised the e-TDS TCS RPU utility for preparing of TDS/TCS returns. e-TDS/TCS RPU version 5.9 for Statement(s) from FY 2007-08 onwards has been released. Also e-TDS/TCS File validation utility (FVU) versions 2.190 for FY 2007-08 to FY 2009-10 …
Same transaction cannot be subject matter of assessment under Section 147 twice; one by the ITO and the other by the DCIT – High Court In a recent judgment High Court quashed notice passed u/s 148 holding that same transaction cannot be subject matter of assessment under Section …
Applicability of ICAI Guidance Note on Financial Statements of Non-Corporate Entities/LLPs for FY 2025-26 and 2026-27 ICAI has issued an important announcement on applicability of ‘Guidance Note on Financial Statements of Non-Corporate Entities’ and ‘Guidance Note on Financial Statements of Limited Liability Partnerships’ for annual reporting periods 2025-26 …
CBDT has issued revised requirements of DIN referencing in Income Tax notices etc. and exceptions Section 292B of Income Tax Act 1961 (section 592 of 2025 Act) states that no return of income, notice, summons etc shall be invalid merely by reason of any mistake, defect or omission …
When property purchased and sold within same year both sale and purchase price has to be adopted by applying same guideline value u/s 50C – ITAT If AO adopts a deemed price u/s 50C, then where property was purchased within same year both sale and purchase price has …
ICAI defers the mandatory effective date of SQM 1 and SQM 2 The Council of ICAI, at its 451st Meeting held on 30th and 31st March 2026 considered the matter relating to the mandatory effective date of SQM 1 and SQM 2. The Council decided to defer the …
Addition deleted as it was made on the basis of letter of District Magistrate which not recovered during the search In a recent judgment, Allahabad ITAT has deleted addition made on the basis of letter of District Magistrate which had not been recovered during the search and therefore, …
Banks not required to deduct TDS under Income Tax Act 2025 on interest income below threshold limit – CBDT clarification CBDT has issued a clarification on threshold for deduction of tax on interest income by banks or banking companies under section 393 of Income Tax Act 2025. Under …
Allegations of delay in TDS deposit, role of person responsible are disputed factual matters which must be tested at trial through evidence and cross examination. In a recent judgment, Hon’ble Supreme Court has dismissed assessee’s SLP against High Court order that allegations regarding deduction of TDS, delay in …
Procedure, formats and standards for generation and allotment of Unique Identification Number (UIN) in respect of Form No. 121 declaration for payment without deduction of tax from tax year 2026-27 As per Income tax Act 2025, Section 393 provides for provisions regarding deduction of tax at source. Similar …
