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The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, in a petition furnished to it stated that there would be no addition incurred on the basis of a typographical error in the ITR via the taxpayer. ITAT, before-mentioned observation when a plea was chosen before it via the taxpayer, as against the order on […]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that payment that the taxpayer has made to the non-resident marketing partners for filing the before or after-sale services concerned with the software solutions would have the character of fees for technical services (FTS). The two-member bench of V. Durga Rao (Judicial Member) and […]
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 […]
Recently the Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) stated that the equalization levy is not eligible to be payable on the payments of advertising when the target audiences, as well as the advertisers, are located outside of India. The bench of Dr S. Seethalakshmi (Judicial Member) and Rathod Kamlesh Jayantbhai (Accountant Member) […]
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 […]
What is CBDT Rule 132? Central Board of Direct Taxes (CBDT) has made Rule 132, which comes into force from October 1, 2022. It deals with the application for re-computation of income under Section 155(18). CBDT has also shown Form 69 that can be used to apply for re-computation of income. Tax experts mentioned that […]
The Kolkata Bench Income Tax Appellate Tribunal (ITAT) does not have ordered any TDS on payment of fees for technical services (FTS) to non-residents not having a Permanent Establishment (PE) in India. The two-member bench of Rajpal Yadav (Vice President) and Rajesh Kumar (Accountant Member saw that the payment incurred to the non-resident recipients who […]
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 Income Tax Appellate Tribunal (ITAT), Mumbai Bench comprises of Rahul Chaudhary, Judicial Member, and Om Prakash Kant, Accountant Member ruled that supporting evidence is mandatory for claiming TDS Credit in lack of a TDS Certificate. The taxpayer DZ bank provides the loans to the Indian borrowers and obtains the payments, via its Indian borrowers […]
