Home Highlights May 2016 Year 2016 This

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1. Disallowance of interest paid on unsecured loans - Non-deduction of TDS - Once Form No. 15G & 15H are duly submitted by the assessee before the department, then assessee...

2. Simplification of procedure for Form No. 15G & 15H - Clarifications - Notification

3. Declaration for No TDS - Government Simplifies the Format and Procedure for Self Declaration in form No.15G or 15H to Reduce the Cost of Compliance and Ease the Compliance Burden

4. TDS u/s 194C - Disallowance u/s 40(a)(ia) - non submission of forms/ declarations in the office of Chief Commissioner/ Commissioner as prescribed U/s 191A(2) - non...

5. Non-deduction of TDS - When the assessee has submitted necessary declaration in Form Nos.15G/15H for non-deduction of TDS and also for reversal of TDS deduction on...

6. TDS u/s 194A - assessee in default - failure to upload Form 15G/15H of the depositors in roper format - Considering the fact that the assessee has not deducted tax at...

7. Non-deduction of TDS - Disallowing u/s. 40(a)(ia) - If the AO accepts the contention of assessee that expenditure was capitalized, then there is no necessity to examine...

8. TDS - Late furnishing of Form 15G/15H - When assessee was well aware that recipients had no taxable income, just because the declarations in Form 15G/H were obtained...

9. Order u/s 119 of the Income tax act, 1961 (the Act) regarding submission of Form 15G and 15H for Financial Year 2020-21 - Order-Instruction

10. Belated filing of non-deduction forms 15G/15H under Rule 29C – amount can not be disallowed u/s 40(a)(ia) for non deduction of TDS - AT

11. Disallowance u/s 40(a)(ia) - TDS - Non deposition / submission of Form 15H / 15G is not a ground to disallow expense u/s 40(a)(ia) - AT

12. New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers

13. The Appellate Tribunal (ITAT) considered whether the Central Processing Centre (CPC) was justified in denying the benefit of the New Tax Regime to an individual taxpayer...

14. Section 90 of the Income Tax Act allows relief from double taxation by granting foreign tax credits (FTCs) on foreign income taxed in both India and the other country....

15. Time limit for furnishing the return in FORM GSTR-3B for the newly migrated taxpayers extended.