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To simplify tax procedures, effective decisions have been taken in the Union Budget 2026 to improve India’s digital tax system. With effect from 1st April 2026, a new Income Tax Act will come into force to deliver clearer rules, fairer penalties, extended compliance due dates, and enhanced digital reporting. These updates will directly impact how […]
Tax return filing exhibits a challenge for both individuals and businesses because of the rising intricacy of tax norms. Also, a small error can result in penalties, delayed refunds, or heightened scrutiny from tax authorities. Tax Deducted at Source (TDS) is a common subject of concern, where problems like incorrect Permanent Account Number (PAN) details, […]
The Delhi High Court ruled that a delayed deposit of tax deducted at source (TDS) does not relieve a taxpayer or company officials from criminal liability u/s 276B of the Income Tax Act, 1961. Therefore, Justice Amit Mahajan dismissed the petition submitted via a company’s Managing Director, asking to quash a criminal complaint and summoning […]
Tax Deducted at Source (TDS) is a crucial part of India’s tax collection framework, as it facilitates the collection of tax at the point of income generation. Managing TDS obligations comprises a recurring and crucial responsibility for professionals such as chartered accountants, tax consultants, company accountants, and compliance managers. The process comprises distinct steps: calculation, […]
The Karnataka High Court has condoned the delay concerning a 60‑year‑old farmer’s application asking for a refund of tax deducted at source (TDS), holding that an incorrect TDS paid under the Income Tax Act due to ignorance of earlier deduction by the Karnataka Mineral Development Corporation (KMDC) cannot be retained by the Revenue. Murigeppa Kashappa […]
The Mumbai branch of the ITAT decided to partially support a plea after finding that there was a difference between the income declared in the 26AS Form and the actual income obtained. They supposed that this problem required further research to clarify the facts. The taxpayer, Dattani Construction, a partnership firm, is in real estate […]
Tax Deducted at Source, or TDS, is a crucial requirement for employers and businesses in India. It is the method by which taxes are collected when people earn money, ensuring that the government receives its share within a specified time. Manual tracking of TDS is time-consuming and requires a significant amount of effort. It is […]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench has recently ruled that the Assessing Officer (AO) must provide the assessee with the full Tax Deducted at Source (TDS) credit amounting to ₹14,78,140 for the Assessment Year (AY) 2011–12. This decision highlights the importance of correctly applying TDS credits in tax assessments. According to the Tribunal, […]
In India, managing taxation and compliance is one of the most difficult tasks of running a business. Tax Deducted at Source (TDS) is the main component of the income tax system among these compliance duties. Penalties and interest will be charged for minor errors like late payments, delayed filings, or incorrect deductions. Here, the technology […]
