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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.
The Central Board of Direct Taxes dated 13 September furnished a circular for the elimination of the issues in Section 194R that obligated the responsibility to the individual for giving the advantages to the resident to deduct tax at source with 10%. Before that, the Finance Act 2022 inserted a new section 194R in the […]
The government, in the Finance Act, of 2022, made a new section 194R to the Income Tax Act, of 1961. It makes it compulsory for resident Indians to furnish a 10% tax on the advantages obtained through them. A resident Indian who received any advantage needs to pay the 10% tax at source on the […]
The Income Tax Appellate Tribunal (ITAT), Kolkata has ruled that the Assessing Officer is not able to validate the information of the Tax Deduction at Source (TDS) via the related party and deletes addition. While at the time of the scrutiny assessment of the petitioner, M/s. Jai Balaji Industries Limited, the Assessing Officer ruled that […]
Employees’ Provident Fund is a government-sponsored savings plan for employees of the formal sector who work in companies with more than 20 employees. Besides serving as a retirement plan, it also serves as an emergency fund. Each year, the Employees’ Provident Fund Organization (EPFO), a government agency established by the Employees’ Provident Fund Act of […]
Under Section 195 of the Income-tax Act, 1961 (ITA), when you have bought the property from a non-resident Indian (NRI) then you are required to deduct tax (TDS). The tax should be deducted while performing any payment to NRI for buying the property. The same would indeed get applied for the case when the advance […]
Towards the exemption for individuals who have not yet received long-pending insurance claims with interest, the Punjab and Haryana High Court ruled that TDS does not get deducted by the insurance companies on the interest on the compensation amount till 1.06.2015. Justice Arvind Singh Sangwan acknowledged a modification plea by the New India Assurance Company […]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench rendered that the assessing officer revamp the order passed without acknowledging the TDS statement beneath Form 16 by enforcing section 154 of the income tax act, 1961 and ruled that the employer is obligated for the lower TDS deduction. The taxpayer MarkandIndraprasad Bhatt shows the income of […]
As per the Cochin Chamber of Commerce and Industry (CCCI), the government’s decision to mandate the deduction of the income tax at source (TDS) towards the debt amount which is waived by the banks via one-time settlement (OTS) policy beneath section 194R of the income tax act would have bad outcomes. According to section 194R […]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the hospitals would be deducted with the TDS beneath section 194J of the Income Tax Act, 1961 towards the payments incurred to the doctors who are involved as retainers and consultants since there would be no component of the employer-employee relationship. The petitioner, […]