Despite declaring the income and paying due taxes, interest under relevant sections was levied as the TDS credit didn’t show up on his Form 26AS.

A job candidate recently wrote in a Reddit post that he was aghast when a multinational corporation (MNC) checked his income ...

Traders declaring business or F&O income below 6% of their turnover may face a mandatory tax audit. This rule applies even if ...

A company's right to TDS credit was upheld despite the tax being erroneously reported under its former firm's PAN and not in Form 26AS. The Tribunal ruled the credit follows the ...

A Mumbai taxpayer successfully challenged a Rs 1 crore tax demand at ITAT Mumbai after Form 26AS failed to reflect TDS credit. Despite paying taxes, the demand arose due to the deductor's failure to ...

Many taxpayers believe that income tax returns (ITR) can only be filed by the due date. However, this is not entirely correct ...

Agricultural income is fully exempt under Section 10(1), but it must be included for rate purposes. This means that it is added to your total income to compute the tax rate applicable to your regular ...

In immovable property sale cases, NRIs may face both TDS and TCS depending on how the sale proceeds are handled.

The Black Money Act mandates Indian residents to disclose foreign income and assets, imposes heavy penalties for non-disclosure, and has no time limit, emphasizing transparency and compliance with ...

ITAT Chennai deletes Rs.1.86 Cr unsecured loan addition u/s 68 after verifying director source. Remands Rs.1.01Cr cash payment (40A(3)) and restricts TDS default (40(a)(ia)) ...

Inheritance Funding reports the average estate settlement takes 6-12 months, but debts and disputes can extend the process to ...

Rafał Kran and Janina Fornalik of MDDP analyse the introduction of the JPK CIT and e-invoicing, outlining how companies ...