Judgement

The ITAT Mumbai held that TDS is not required on year-end expense provisions when payees are not identified and directed the Assessing Officer to verify if TDS was later deducted and paid.

TDS Not required on Year-End Expense Provisions Where Payees Are Not Identified, Says ITAT

ITAT Mumbai ruled that a company incorporated in FY 2015-16 cannot claim the 29% concessional tax rate meant for companies existing in FY 2014-15, and upheld the 30% tax rate applied by the AO.

ITAT Upholds 30% Tax Rate for Newly Incorporated Company Not Eligible for 29% Concession

The tribunal also agreed with the assessee, saying that the AO has not submitted any material during the course of assessment proceedings other than estimating the undisclosed income

ITAT Dismisses Bogus Transaction Allegation on Chartered Accountant

The Delhi Tribunal held that routine IT and non-IT support services do not constitute ‘Fees for Technical Services’ as no technical knowledge or skill was made available.

ITAT Delhi Rules Routine Support Services Not Taxable as Fees for Technical Services under India-UK DTAA

Citing Section 115A(5), the ITAT highlighted that the assessee company, with only interest income, was not required to file a separate income tax return unless it had a permanent establishment or POEM.

No ITR Required for Interest Income Under Section 115A(5) Without POEM in India: ITAT

Announcement

All TDS/TCS correction statements for FY 2018–19 to FY 2023–24 must be filed by March 31, 2026, as filings will not be accepted thereafter.

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TDS Not required on Year-End Expense Provisions Where Payees Are Not Identified, Says ITAT

ITAT Upholds 30% Tax Rate for Newly Incorporated Company Not Eligible for 29% Concession

ITAT Dismisses Bogus Transaction Allegation on Chartered Accountant

ITAT Delhi Rules Routine Support Services Not Taxable as Fees for Technical Services under India-UK DTAA

No ITR Required for Interest Income Under Section 115A(5) Without POEM in India: ITAT

TDS Breaking: Traces releases last date for Filing TDS/TCS Correction Statements up to FY 2023-24, Check Now