Home Highlights May 2014 Year 2014 This

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1. Tax deducted at source (TDS) credit was denied in the intimation u/s 143(1) to the assessee. The Commissioner of Income Tax (Appeals) upheld the Centralized Processing...

2. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

3. Allowance of Tax Deducted at Source (TDS) claimed by a "Kaccha Aaratiya" (commission agent) engaged in selling agricultural produce on behalf of farmers. The key points...

4. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

5. Credit for TDS - Income offered to tax on receipt basis - the assessee is eligible to claim credit for TDS in assessment year 2016-17, when such professional income has...

6. Mismatch of credit of TDS due to non-payment of TDS - benefit of tax deducted at source by the employer - Non deposit of TDS by the employer - Reference of Section 205...

7. Credit of the tax deducted at source (TDS) as TDS deducted by the employer - mis-match of tax deducted u/s 192 and the amount reflected in Form 26AS - The Court...

8. Short deduction of taxes - Credit to the assessee for TDS deducted denied - the assessee has deducted and deposited TDS within time, but due to a technical error in CPC...

9. The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

10. The assessee claimed that the deductor had deducted tax but failed to deposit it with the Central Government, leading to a mismatch between tax credits claimed and...

11. Procedural lapses by third parties should not deprive taxpayers of TDS credit when they have acted in good faith and declared income. Section 205 bars direct tax...

12. Credit for TDS - Whether the Tax Deducted at Source (TDS) on mobilization advance, which is a capital receipt, should be credited in the year of deduction - Mobilization...

13. TDS u/s 194A OR 194C - short deduction of TDS - compensation paid by the assessee for breach of contract u/s.40(a)(ia) - If at all there is shortfall in TDS deducted by...

14. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

15. Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing...