Author: administrator
TDS sections for which payment threshold reduced by Budget 2025-26. See Table The Finance Bill 2025 has increased payments threshold limits for deduction of tax at source under various sections TDS provisions have various thresholds of amount of payment or amount of income, beyond which tax is required …
Removal of higher TDS/TCS u/s 206AB / 206CCA CCA for non-filers of return of income w.e.f. 01.04.2025 Section 206AB of the Income Tax Act, 1961 requires deduction of tax at higher rate when the deductee specified therein is a non-filer of income-tax return. Section 206CCA of the Act, …
Section 87A Rebate for AY 2026-27 ( FY 2025-26 ) under New Tax Regime and Old Tax Regime as per Union Budget 2025-26. Amendment proposed, amount of rebate and eligibility. Section 87A Rebate for AY 2026-27 ( FY 2025-26 ). Union Finance Minister shall present Union Budget 2025-26 …
Income Tax basic exemption limit and tax slabs for individuals & HUFs for AY 2026-27 as proposed in Union Budget 2025-26. Union Finance Minister shall present Union Budget 2025-26 in Parliament on 1st February 2025. Hopes are high that taxpayers shall be given much desired relief in taxation …
ICAI (Merger & Demerger of CA firms) Guidelines 2024 has been notified by the ICAI w.e.f. 31.01.2025 The guidelines provides for the modalities of mergers of CA firms to encourage and develop core competencies and to render professional services on a much larger geographical scale. As per guidelines, …
Proceedings under Section 148A of the Income Tax Act, 1961 necessarily required to be completed within the period available for issuing notice under Section 148 In a recent judgment, Hon’ble Delhi High Court has held that proceedings under Section 148A of the Income Tax Act, 1961 necessarily required …
SEBI mandates System Audit of Stock Brokers. Prescribes eligibility criteria for empanelment of auditors SEBI vide Master Circular No. SEBI/HO/MRD2/PoD-2/CIR/P/2023/171 dated October 16, 2023 specified the comprehensive framework for System Audit for Stock Brokers (SBs)/Trading Members (TMs). SEBI has issued Circular No. SEBI/HO/MIRSD/TPD/CIR/2025/10 dated 31.01.2025 to introduce technology …
Penalty u/s 270A(9) deleted by ITAT as assessee pursuant to notice u/s 148 filed return and had paid due taxes In a recent judgment, ITAT Ahmedabad has deleted penalty u/s 270A(9) when assessee pursuant to notice u/s 148 filed return and paid due taxes. ABCAUS Case Law Citation:4395 …
Late fee u/s 47(2) of the CGST Act 2017 is leviable for the delay in furnishing of both Form GSTR-9 and Form GSTR-9C . CBIC clarification on applicability of late fee for delay in furnishing of Form GSTR-9C CBIC has issued Circular No. 246/03/2025-GST dated 30.01.2025 for clarification …
Net Profit rate of about 40% not possible in contract work especially when assessee does contract work for government department – ITAT In a recent judgment, ITAT Pune upheld estimating net profit @ 8% against addition on account of alleged payments to bogus sub contractors made by the …
