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On this page, you will find all the articles and popular news which cover the information about the TDS (Tax Deducted at Source), which consists of notification given by the income tax department that where the tax needs to be deducted or which product attracts taxes.
The taxpayers expect a notification from the taxation council about the deduction rates or updates in TDS etc. thus we have all the TDS-related articles and news in one portal.
There are several articles that are kept in the library of the SAG infotech; this library will be favorable for the CA, taxpayer, and for company executives. All the articles were written by the tax professionals and CA so that no mistakes be there in the articles. The materials of news take from the income tax department.
Form 15G for the provident fund (PF) withdrawal would be the self-declaration form which confirms the petitioner that there shall be no TDS deduction when they withdraw their provident fund before the provided fiscal year. Under the norms of income tax, when the employee withdraws via provident fund prior to completing 5 years with the […]
The Supreme Court held that Section 194H of the Income Tax Act, for the case of Supplementary Commission amounts made via the travel agent, and hence the Airlines would obligate to deduct TDS on the same concern. The bench consisting of Justices Surya Kant and MM Sundresh sustained the Delhi High Court judgment and overruled […]
The Finance Act 2020 inserted Sub Section (1H) in Section 206C for furnishing the tax collection via a seller through the amount obtained as consideration for the goods sale when the same would surpass Rs. 50.00 Lacs in any former year. With identical references, the Finance Act 2021 inserted a TDS section 194Q for furnishing […]
Usually, companies take the risk of losing the tax credits (TDS and TCS) because of a lack of regular reconciliation between books of accounts and government records Form 26AS. The year-on-year TDS credit lock-up directed to inefficiencies in the working capital which would be the major subject to think about for CFOs and tax heads […]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the payment that the taxpayer has made to the non-resident supplier shall be the royalty amount and is bounded on the taxpayer’s portion to deduct tax at source. The two-member bench of T.R. Senthil Kumar (Judicial Member) and Annapurna Gupta (Accountant Member) has […]
Towards commissions paid to the banks, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the TDS provision would not be applicable. The two-member bench of Saktijit Dey (Judicial Member) and Dr B.R.R. Kumar (Accountant Member) sees that the commission furnished to the partners would not be covered under section 194H of […]
The Chandigarh bench of the Income Tax Appellate Tribunal ( ITAT ) held that transport aggregator Ola ( ANI Technologies Private Limited ) is not responsible to deduct withholding TDS deductions on driver payments. ITAT ruled that Ola acts as the only intermediary. The role of Ola would be restricted to handling and functioning the […]
The Delhi Income Tax Appellate Tribunal (ITAT) ruled that the payments to agents of foreign shipping companies are exempt from TDS deduction. The two-member bench of Saktijit Dey (Judicial Member) and N.K.Billaiya (Accountant Member) sees that provisions of section 172 of the Income-tax act, 1961 would be applicable to the payments incurred to the agents […]
The Pune bench of the Income Tax Appellate Tribunal (ITAT), the interest on income tax cannot be permissible as a deduction under section 40(a)(ii) of the Income Tax Act, 1961. The taxpayer, Rajendra Sukhdev Mirgane, is a Builder and Contractor who filed the income return showing a total income of Rs 2.18 cr. At that […]