ITAT Mumbai ruled that Form 26AS is not conclusive when deduction of tax is otherwise established. Denial of TDS credit would amount to double taxation, which Section 205 expressly ...

Buyers must deduct TDS under Section 195 on amounts paid to NRI sellers, deposit by the 7th of the following month, and not rely on the seller’s capital gains ...

Non-resident Indians (NRIs) commonly invest in real estate in India, and rent it out. If your landlord happens to be an NRI, make sure you deduct tax at source (TDS) each month from the rental payment ...

A salaried professional, Abhishek, received a shock when he was hit with an income tax notice demanding a penalty of Rs 1,00,000 for failing to deduct Tax Deducted at Source (TDS) on his monthly rent ...

In a significant relief for taxpayers, the Income Tax Appellate Tribunal (ITAT) Mumbai has quashed a Rs 1 crore tax demand raised solely due to a TDS mismatch in Form 26AS, reaffirming that Section ...

Rental income earned from an asset located in India is taxable in India If a person has a home loan, he is eligible to claim the payments made towards principal repayment under Section 80C up to ₹1.5 ...

The Indian Income Tax Act lays down specific rules for deducting TDS (Tax Deducted at Source) on rent payments, especially when rent crosses a certain limit. Many landlords and tenants remain confused ...

In a noteworthy decision, the Income Tax Appellate Tribunal in Kolkata has come to the aid of an employee who found themselves in a challenging situation. Despite the employer's failure to remit TDS ...

The Kerala High Court held that once a bank accepts valid Form 15H declarations from senior citizen depositors under Section ...