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An addition cannot be made solely based on a mismatch between sales reported in the books and the figures in Form 26AS, particularly when the discrepancy arose due to double deduction of Tax Deducted at Source (TDS) by the client, Wockhardt Hospitals Ltd (WHL), the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has […]
The Central Board of Direct Taxes (CBDT) has released Circular No. 3/2025, citing the income tax deduction from salaries u/s 192 of the Income Tax Act, 1961, for the financial year 2024-25. The same circular specifies the changes introduced via the Finance (No. 2) Act, 2024, Finance (No. 1) Act, 2024, and Finance Act, 2023 […]
On January 24, the Supreme Court refused to entertain a Public Interest Litigation contesting the provisions of the Income Tax Act, which impose an obligation on private employers to deduct tax at source (TDS) on the salaries paid by them. A bench including Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar mentioned that […]
The Delhi High Court, ‘capital grant subsidy’ which may be extended by the National Highways Authority of India to its contractors is not accountable to TDS deduction u/s 194C of the Income Tax Act, since such grant cannot be construed as payment for a “work”. Deduction of tax at source (TDS) is needed under section […]
As per Bombay HC, no tax is to be charged on the transit rent as it is not to be deemed as a revenue receipt. Consequently, no question of tax deduction at source (TDS) is there from the amount leviable via the developer to the tenant. The bench of Justice Rajesh S. Patil has marked […]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled that as the taxpayer was a non-resident therefore the entire tax ought to be deducted at source on payment made via the payer to it, and no question was there for the advance tax payment by the taxpayer; consequently, no interest Under Section 234B can […]
A reconsideration is been ordered by the Delhi bench of the Income Tax Appellate Tribunal (ITAT) asking for a new adjudication. The same decision arrives as the submissions for the Tax Deducted at Source ( TDS ) deductions u/s 194J or 194C for payments related to X-ray and CVC machine maintenance were not regarded. The […]
Often the employees unfortunately reveal that while the tax has been duly deducted at source (TDS) against their salary income, the same does not get deposited by the employer with the government. The Mumbai bench of the Income-Tax Appellate Tribunal (ITAT) decision stressed that the accountability of proof of TDS against the salary income is […]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) wishes to delete the Income Tax addition since it found that no deduction of Tax Deducted at source ( TDS ) under Section 194C of the Income Tax Act was needed for land levelling costs. The taxpayer in the year under consideration sold […]
