Tag: TDS
CBDT has notified e-Verification Scheme, 2021 on 13th December 2021. Presently data pertaining to FY 2019-20 is under verification. CBDT has sought cooperation of the deductors in the successful implementation of the Scheme. Presently data pertaining to FY 2019-20 is under verification. With the help of various e-statements i.e. …
Airlines required to deduct tax at source (TDS) u/s 194H on supplementary commission of travel agents – Supreme Court ABCAUS Case Law CitationABCAUS 3617 (2022) (11) SC Important Case Laws relied upon by partiesHindustan Coca Cola Beverages Pvt. Ltd. v.Commissioner of Income TaxAhmedabad Stamp Vendors Ass.v. Union of …
CBDT extends due date of filing of TDS return Form 26Q for the second quarter of financial year 2022-23 from 31st of October, 2022 to 30th of November, 2022. CBDT extends due date of filing of TDS return Form 26Q Circular No. 21/2022 F.No.275125/2022-IT(B) Government of …
CBDT issues Guidelines / FAQs on TDS u/s 194S on transfer of a virtual digital asset (VDA) applicable from 1st July 2022 Circular No. 13 of 2022 F. No. 370142/29/2022-TPL (Part-I) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) …
CBDT guidelines / FAQs on TDS u/s 194R for providing any benefit or perquisite to a resident CBDT has issued Circular No. 12/2022 detailing guidelines / FAQs on applicability of TDS u/s 194R for providing any benefit or perquisite to a resident w.e.f 01.07.2022 Finance Act 2022 inserted …
TDS not applicable on payment of bank guarantee commission to bank listed in second schedule to RBI Act as there is no element of agency ABCAUS Case Law CitationABCAUS 3580 (2022) (02) ITAT Important case law relied referred:Kotak Securities Ltd. Vs. DCIT 18 taxmann.com 48 (Mum.) TDS not …
Prosecution for late deposit of TDS after 11 months. Once there was a non-deposit, necessary consequences shall follow including prosecution- Supreme Court ABCAUS Case Law CitationABCAUS 3564 (2021) (12) SC In the instant case, the assessee had wiled a Writ Petition to challenge the sanction letter for prosecution …
TDS/TCS on non filer of Income tax returns at higher rates. New Section 206AB and Section 206CCA inserted by Budget 2021-22 TDS/TCS on non filer of ITRs at higher rates Presently, Section 206AA of the Income Tax Act 1961 provides for higher rate of TDS for non-furnishing of …
TDS on payment of certain sum for purchase of goods-New Section 194Q inserted by Budget 2021-22 TDS u/s 194Q on purchase of goods It is proposed to provide for TDS by person responsible for paying any sum to any resident for purchase of goods. The rate of TDS …
CBDT Guidelines on applicability of TDS u/s 194-O(4) and TCS u/s 206C 1-H from 01.10.2020 F. No.370133/22/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) **** Circular No. 17 of 2020 Dated: 29th September, 2020 Sub.: Guidelines under …
