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

ITAT Raipur set aside the levy of fees under Section 234E for delayed TDS statements filed before the 01.06.2015 amendment to Section 200A. Following the Karnataka High Court ruling, the Tribunal held ...

The ITAT dismissed the Revenue's appeal, affirming that the ₹4.17 Crore TDS penalty order was invalid as it was passed over two years after the expiry of the statutory limitation period (June 30, 2014 ...

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 Mumbai taxpayer successfully challenged a Rs 1 crore tax demand at ITAT Mumbai after Form 26AS failed to reflect TDS credit ...

India will expand its RBI-backed digital rupee while keeping strict crypto taxes, reinforcing its focus on secure digital finance.

Traders declaring business or F&O income below 6% of their turnover may face a mandatory tax audit. This rule applies even if turnover is below certain thresholds. If total income exceeds the basic ...

GST portal has officially enabled the filing of Annual Return (GSTR-9) and Reconciliation Statement (GSTR-9C) for the ...

If the return was filed within the due date (16th September for FY 2024–25), the interest on the refund will be calculated ...

A father and son sold ancestral land for Rs 13 crore, but the buyer's TDS error led to a tax notice for the father. The ITAT ...

India plans to roll out an RBI-backed digital currency for faster, safer, and transparent payments while limiting private ...

India is aggressively promoting the use of CBDCs while continuing to discourage the use of cryptocurrencies by heavily taxing ...