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The CESTAT in the case of M/s. Piyush Sharma v. Commissioner of CGST & CX, Patna-I [Service Tax Appeal No.75856 of 2021 dated October 17, 2023] has ruled that the service tax claim, which relies on Form 26AS from the Income Tax Department without any scrutiny, is incorrect. Key Facts of the Case M/s. Piyush […]
30th June 2023 will be the due date to link the Aadhaar and PAN and no extensions would get provided by the government. If the PAN does not get linked to the Aadhaar then the same shall become inoperative from 1st July 2023. Rs 1000 would be required to be deployed by the individual via […]
The taxpayer does not liable to exemplify the recipients of the receipts shown in Form No. 26AS, The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled. The two-member bench of Anubhav Sharma (Judicial Member) and N.K. Billaiya (Accountant Member) at the time of deleting the additions sees that the Assessing Officer must be needed […]
This article will aware of the TDS claim process if credit is not reflected in 26AS, AIS and TIS forms. There is Section 205 of the Income Tax Act of 1961 that gives you rights in certain situations. For example, if you are paying 60% tax on your income but your adequate tax liability is […]
As for yourself or as a company If you look to furnish the ITR then the term known as Form 26AS under which all the tax filed on your grounds through your employer or customers. What is Form 26AS? The Form 26 AS is also called a tax credit statement. It is your yearly consolidated […]
The ITR furnishing season has comes to an end most of the people are just aware of the amendment along with the correct process. Some employers have not updated the salaried employees about the tax deducted at source (TDS) which is April-June and July to December quarters for FY 2020-21 (Financial Fear 21) in Form […]
The Central Board of Direct Taxes released notifications on 29th September and 30th September and made some important announcements. Through a notification issued on September 29, the CBDT empowered the Principal Director General of Income Tax (System) or the Director General of Income Tax (System) to upload information related to GST returns, which is in […]
As per the recent update from the income tax department, the department has notified about the revised form 26AS which is mainly utilized for collection of the tax collected or basically tax deducted at source under which there will be details such as property and share transactions. The revised form 26AS is now a detailed […]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) demanded re-adjudication, commenting that either Form 26AS or Form 16 is crucial to claim the Tax Deducted at Source ( TDS ) credit. The taxpayer claimed TDS amounting to Rs.10,45,439 was deducted by the employer i.e. M/s. Nirmal Lifestyle Ltd. from salary u/s […]
