ITAT Patna: Employee Not Liable for Employer’s TDS Default under Section 205
When Form 16 Says TDS, but 26AS Says “No”: The Real-World Dilemma Picture this: You’ve worked hard all year, your salary slips show TDS deductions, and your Form 16 is…
TDS/TCS Compliance Pitfalls: Common Mistakes, Regulatory Risks & How to Avoid Penalties
For every business and many individuals, TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are not just routine tax formalities—they are the backbone of India’s tax collection…
- GST | Income Tax | TDS
A Comprehensive Guide to Tax Implications on Renting of Property: TDS, GST & Income Tax Discussed
Navigating the vast and intricate world of finance can be both challenging and enlightening, especially when it comes to understanding rental properties and the ensuing tax implications. This article serves…
Difference Between TDS and TCS Explained
The Indian tax system is meticulously designed to ensure effective tax collection. Two fundamental mechanisms contributing to this system are TDS (Tax Deducted at Source) and TCS (Tax Collected at…
Section 194R TDS on Benefits or Perquisites in respect of Business or Profession
In the ever-evolving landscape of taxation in India, Section 194R of the Income Tax Act stands out as a significant addition introduced in the Union Budget of 2022. This section…
TDS on Interest – Section 194A Explained
The concept of Tax Deducted at Source (TDS) plays a pivotal role in the Indian tax system. It acts as a method to collect tax at the source of income…
TDS on Crypto / NFT / Virtual Digital Assets Explained (Section 194S)
The landscape of investments and financial assets has profoundly transformed with the integration of digital technology. Among these advancements, Virtual Digital Assets (VDAs) such as cryptocurrencies and Non-Fungible Tokens (NFTs)…
Section 194-IB: Understanding the Essentials of Rental Income Tax Deduction
Welcome to the comprehensive guide on Section 194-IB, which is crucial for tenants who are paying a monthly rent exceeding 50,000. We will try to break down this section to…
TDS on Software License Purchases from Non-Residents: Navigating the Supreme Court’s Landmark Judgment
The landscape of international transactions has recently witnessed an important reshaping through the Supreme Court of India’s ruling on offshore software purchasing. The ruling has brought clarity to the ambiguity…
TDS Deductors Beware: Checking PAN Linked with Aadhar Compulsory before Deducting TDS
Tax Deducted at Source (TDS), a critical component of India’s taxation system, acts as a method for collecting tax at the source of income. Here’s what you need to know:…
Demystifying TAN: Your Essential Guide to Tax Deduction and Collection Account Number
In the realm of tax-related procedures in India, one term you’ll come across frequently is the Tax Deduction and Collection Account Number, commonly referred to as TAN. But what exactly…
Revised Procedure for Application and Process of Lower Deduction of TDS Certificate u/s 197 of Income Tax Act
Tax Deducted at Source (TDS), a requirement under the Income-tax Act, 1961, is an integral part of India’s taxation framework. TDS is a method wherein the government can make tax…
