Direct Tax Updates

Appeal on Income Tax Appellate Tribunal (ITAT) on remanding back to Commissioner (Exemptions) regarding rejection of Application under section 80G (5)

Vide Decision of High Court of Allahabad in People Cause Foundation v. Income Tax Appellate Tribunal. Facts of the Case: The Appellant is a [...]

Extension of Due Date for filing of TDS statement in Form 24Q

CBDT Vide Order under Section 119 of Income Tax Act, 1961, CBDT Extended due date for filing of TDS statement in Form 24Q for FY 2018-19 from 31st May, [...]

Extension of Due date for filing TDS Returns in the State of Odisha

CBDT vide Order under section 119 of Income-Tax Act,1961, CBDT extended, Due date for depositing Tax Deducted at Source (TDS) for the month of April,2019 [...]

Reimbursement of service tax, by ONGC to assessee not a part of aggregate amount specified in sub-section (2) of section 44BB

Vide Decision of High Court Of Uttarakhand in Director of Income-tax International Taxation v.Schlumberger Asia Services Ltd. Facts of the case: Section [...]

Reporting requirements in Form 3CD

Section 44AB of the Income-tax Act, 1961 requires specified persons to furnish Tax AuditReport in Form No. 3CD. Form No.3CD was amended vide notification no. [...]

Where assessee-hospital made payments for services rendered towards maintenance of its medical equipments for proper and long functioning, it was required to deduction TDS under section 194C, and not under section 194J

Vide Decision of High Court Of Bombay in Commissioner of Income-tax (TDS)-2 v. Saifee Hospital Facts of the Case: The supplier of medical equipments to [...]

Extension of due date for linking of Aadhar and PAN

The Central Board of Direct Taxes vide Notification No. 31/2019 dated 31st March 2019 has extended the last date for linking of PAN and Aadhar till 30th [...]

Notified provisions of 56(2)(viib)

Section 56(2)(viib) lays down that where a private limited company receives any consideration from any person being a resident, for issue of shares that [...]