ITAT ruled that denial of TDS credit due to a PAN mismatch between the deceased and the legal heir is unjustified. Once the income is taxed in the hands of the legal heir, the corresponding TDS credit ...

The Bombay High Court ruled that limitation under Section 201(3) must be calculated based on the financial year in which each quarterly TDS statement is filed. The decision confirms that annual or ...

Draft Income-Tax Rules 2026 aim for voluntary compliance but require crucial changes to prevent taxpayers from paying twice. Key issues include protecting deductees from deductor defaults, ...

March deadlines: advance tax payments due March 15, TDS certificate issuance by March 17, and international tax reporting by ...

Taxpayers often have to file income tax returns just so to claim a refund for having tax deducted at source for various reasons even when their income does not fall under the taxable bracket. The ...

Recently , Abhishek, a salaried person who was living in a rented house, was asked to pay a tax penalty of Rs 1 lakh by the income tax department. Even though this penalty was discretionary, it was ...