TDS on Royalty paid to non residents hiked to 20% in the Finance Bill 2023
Tax Rate u/s 115A for Royalty / FTS has been increased from 10% to 20% in the Finance Bill passed by the Parliament.
Section ...
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The Blogs
TDS Not Deposited By Employer, Can’t Be Adjusted Against Future Refund Due To Assessee: Delhi High CourtTDS Not Deposited By Employer, Can’t Be Adjusted Against Future Refund Due To Assessee: Delhi High Court
TDS Not Deposited By Employer, Can’t Be Adjusted Against Future Refund Due To Assessee: Delhi High Court
Sanjay Sudan (W.P.(C) 6610/2019)
The question before the ITAT was whether Whether the respondents/revenue can adjust the withheld tax which has not been deposited ...
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Taxation & TDS provision on Sale of Agricultural land:
Taxation & TDS provision on Sale of Agricultural land:
Normally, all income & gain arising on sale of property is taxable. However, income arising on sale of agricultural land is totally tax free provided that
(a) it is rural agricultural land & ...
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GST inspector-turned-model under ED Scanner in Rs.64cr TDS scam
GST inspector-turned-model under ED Scanner in Rs.264cr TDS scam
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Union Budget 2023: TDS and taxability on net winnings from online games
Union Budget 2023: TDS and taxability on net winnings from online games
Section 194B of the Act provides that the person responsible for paying to any person any income by way of winnings from any lottery or crossword puzzle ...
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Union Budget 2023: Removal of exemption from TDS on payment of interest on listed debentures to a resident
Union Budget 2023: Removal of exemption from TDS on payment of interest on listed debentures to a resident
Section 193 of the Act provides for TDS on payment of any income to a resident by way of interest on ...
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Union Budget 2023: Increasing threshold limit for co-operatives to withdraw cash without TDS
Union Budget 2023: Increasing threshold limit for co-operatives to withdraw cash without TDS
Section 194N of the Act provides that a banking company or a co-operative society engaged in carrying on the business of banking or a post office, ...
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Budget 2023 & Beneficial amendment to facilitate TDS credit for income already disclosed in the return of income of the past year
Budget 2023 & Beneficial amendment to facilitate TDS credit for income already disclosed in the return of income of the past year
Here is beneficial amendment proposed in Union Budget 2023.
Where income is included in the ITR filed by the ...
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Sale of Agricultural land: Taxation & TDS provision
Sale of Agricultural land: Taxation & TDS provision
Query]
There appears to be lot of confusion with regard to the TDS applicability on sale of agricultural land. Please clarify whether TDS is required to be done on purchase of agricultural ...
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Property owned by firm in the name of the Partner: TDS done in the name of the partner
Property owned by firm in the name of the Partner: TDS done in the name of the partner
There are often the cases wherein the property is onwed by the firm in the name of the partner. When the property ...
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Partner claiming the TDS credit in respect of property owned and offered for taxation by the firm
Partner claiming the TDS credit in respect of property owned and offered for taxation by the firm
There are often the cases wherein the property is owned by the firm in the name of the partner. When the property is ...
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Union Budget-2023: TDS on Sale of Shares & Mutual Funds
Union Budget-2023: TDS on Sale of Shares & Mutual Funds
Budget time is back and now Budget 2023 may be the election budget of the Modi Government as Budget 2024 may not be a full fledged budget in view of ...
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Whether TDS is required on entire amount even if the difference between actual sale consideration & stamp duty valuation is less than10%?
Whether TDS is required on entire amount even if the difference between actual sale consideration & stamp duty valuation is less than10%?
One of the most common questions which is often asked by the taxpayer is regarding the TDS on ...
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Whether TDS is required to be done on the actual transaction value or on the stamp duty valuation is one of the most common question often asked by the taxpayers?
Whether TDS is required to be done on the actual transaction value or on the stamp duty valuation is one of the most common question often asked by the taxpayers?
One of the most common questions which is often asked ...
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CBDT issued annual Circular clarifying the TDS on salaries
CBDT issued annual Circular clarifying the TDS on salaries
The CBDT has issued important Circular No. 24/2022 dated December 07, 2022 for the deduction of tax at source from salaries. The Circular explained obligation of employers with regard to the ...
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TDS has to be deducted in the case of supplementary commission of travel agents: SC
TDS has to be deducted in the case of supplementary commission of travel agents: SC
Singapore Airlines Ltd (Civil Appeal No. 69646965 OF 2015)
Facts:
Within the aviation industry during the relevant period, the base fare1 for air tickets was set ...
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TDS U/s 194Q required even if the seller has done TCS U/s 206C(1H): Need for amendment in Income Tax Act in view of the SC ruling in Ahmedabad Urban Development Authority
TDS U/s 194Q required even if the seller has done TCS U/s 206C(1H): Need for amendment in Income Tax Act in view of the SC ruling in Ahmedabad Urban Development Authority
So far, it was a well-established & settled proposition of ...
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Liability of TDS payment cannot be shifted by Mutual Agreement
Liability of TDS payment cannot be shifted by Mutual Agreement
Query 1]
I had purchased a flat last year in Oct 2021. Purchase consideration was Rs. 52 Lakh (which is inclusive of the TDS of 1% as per our mutual oral agreement) ...
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