Income Tax Articles

Section 200A | Processing of statements of TDS

CA.R.S.KALRA 15 March 2021 at 09:54

Discussing Section 200A of the Income Tax Act which lays down the provision for Processing of Statements of TDS and rules on how such a statement is processed. ..

Section 54D - Exemption from Capital Gain on Compulsory Acquisition of Land or Building forming part of Industrial Undertaking

Neethi V. Kannanth 13 March 2021 at 09:59

To encourage the assessee to carry the business undertaking, exemption under section 54D of the Income Tax Act, 1961 is provided. Let us understand in detail about section 54D.

Uber India not liable to deduct TDS for payments made to the drivers, says ITAT

CA Sapna Ghelani 13 March 2021 at 09:59

The ITAT allowed the appeal of the assessee and held that UISPL should not be treated as a person responsible for paying for the purpose of Section 194C and therefore the provisions of section 194C cannot be made applicable thereon.

Section 203 | TDS Certificate

CA.R.S.KALRA 13 March 2021 at 09:59

Every person deducting tax at source is required as per Section 203 to furnish a certificate to the payee to the effect that tax has been deducted along with certain other particulars.

Section 200(3) | Forms And Time Limit For Submitting Quarterly Statement of Tax Deduction (TDS Returns)

CA.R.S.KALRA 12 March 2021 at 09:50

Discussing Section 200(3) of the Income Tax Act which deals with the Forms And Time Limit For Submitting Quarterly Statement of Tax Deduction (TDS Returns).

Section 200(1) & (2) | Time Limit for Deposit of TDS

CA.R.S.KALRA 11 March 2021 at 09:47

Discussing the time limit for depositing tax deducted at source to the central government as per different situations u/s 200(1) & (2) of the Income Tax Act.

Section 199 | Credit For Tax Deducted

CA.R.S.KALRA 10 March 2021 at 09:47

In pursuance of rules framed under section 199 of the Income Tax act, credit for tax deducted at source shall be given to the deductee for the assessment year for which such income is assessable.

How to Determine the Residential Status of a HUF?

Ritik Chopra 10 March 2021 at 09:47

Residential Status is to be determined for the taxability of income of a person. This term is coined under the Income Tax Act and has nothing to do with the nationality or citizenship of a person.

Section 197A | No TDS Deduction

CA.R.S.KALRA 09 March 2021 at 10:10

Section 197A provides for any individual, not being a firm or a company, to apply for an exemption of TDS deduction on his/her income from interest on deposits with the banks in India if such income is below the taxable limit.

Fasting for Stranded Resident Indians & A Half-Baked Cookie for NRIs!!

Mayank Mohanka 08 March 2021 at 09:44

CBDT fails to recognise that the question is not of the double taxation issue but the probable adverse taxation consequences arising out of an individual's changed residential status due to his/her forced stay of more than 182 days in India, due to COVID.