The CBDT vide Circular 21/2022 dated 27.10.2022 has extended the due date for filing TDS statement in Form 26Q on account of revision of its format and consequent updation required for its filing, the Central…
TCS on Foreign Remittance Finance Act 2020 inserted new sub-section (1G) in Section 206C of the Income-tax Act, 1961 which is effective from 1st October, 2020. Who shall collect the Tax: (a) An authorised dealer, who…
Wipro Ltd. v. DCIT – Dated 09.02.2022 (ITAT Bangalore) Wipro not liable for TDS under section 195 on sums paid for installation of IVRS equipment & AMC; Follows De Beers ruling Bangalore ITAT rules in…
What is TAN? TAN is Tax Deduction and Collection Account Number. It is a 10-digit alphanumeric number. This number has to be attained by people who are accountable for “Deducting tax at source or Collecting…
All about Tax Deducted at Source (TDS)- Rates of TDS, TDS Challan, Return & Due Dates, Interest, Penalty etc. Rates of TDS applicable for Financial Year 2022-23 or Assessment Year 2023-24: Nature of PaymentExemptionIndividual /Company…
The proposed changes in TDS Regime as per Budget 2022 are as follows: 1. TDS on sale of immovable property In order to remove inconsistency in provisions of section 194-IA and sections 43CA and 50C…
Section 194-O is applicable for E-commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform. Section 194-O has been inserted with effect from October…