Form 26 Related Articles

Apr - 2024

03

Responding to Income Tax Notices on High-Value Cash Transactions

Responding to Income Tax Notices on High-Value Cash Transactions

Responding to Income Tax Notices on High-Value Cash Transactions The Income Tax Department is now employing various data analysis techniques to pinpoint those who have either failed to file their income tax returns or misrepresented their earnings. In light of this, the department has intensified i ...

Oct - 2022

31

Extension of Due Date for Filing of TDS Return in Form 26Q for Q2 of FY 2022-23

Extension of Due Date for Filing of TDS Return in Form 26Q for Q2 of FY 2022-23

Extension of Due Date for Filing of TDS Return in Form 26Q for Q2 of FY 2022-23 The CBDT has extended the last Date for submitting the TDS Return/ Statement in Revised/ Updated Form 26Q, relating to non-salary deductions of tax at source, for the second quarter (Q2) of the Financial Year (FY) 2022– ...

Jun - 2022

30

Income-tax (19th Amendment) Rules, 2022

Income-tax (19th Amendment) Rules, 2022

Income-tax (19th Amendment) Rules, 2022 The Central Board of Direct Taxes (CBDT) vide a Notification No. 67/2022 dated 21.06.2022 in G.S.R. 463(E) has notified Income-tax (19th Amendment) Rules, 2022 amending the Income-tax Rules, 1962 to incorporate changes introduced by the Finance Act, 2022 rela ...

Nov - 2021

06

Annual Information Statement (AIS)

Annual Information Statement (AIS)

Annual Information Statement (AIS) To help taxpayers get a comprehensive view of tax-related information, the income tax department has launched an Annual Information Statement (AIS) on its e-filing portal. It provides comprehensive information to taxpayers on their financial transactions. The purp ...

Nov - 2021

01

CBDT expands Form 26AS Information List

CBDT expands Form 26AS Information List

CBDT expands Form 26AS Information List The Central Board of Direct Taxes (CBDT) has expanded the Form 26AS information list to include more information such as off-market transactions, mutual fund purchases, foreign remittances, and more. CBDT on October 26 issued an order under Section 285BB of ...

Dec - 2018

27

Form 27EQ - TCS Return

Form 27EQ - TCS Return

Form 27EQ - TCS Return Form 27EQ contains all details pertaining to tax that is collected at source. According to Section 206C of the Income Tax Act 1961, this form must be filed every quarter. The form has to be submitted by both the corporate and government collectors and deductors. In this artic ...

Dec - 2018

24

TDS Form 26Q - Non-Salary Deductions

TDS Form 26Q - Non-Salary Deductions

TDS Form 26Q - Non-Salary Deductions When a taxpayer pays taxes, the payee deducts TDS on certain occasions. Form 26Q is used to file TDS details on payments made other than salary. The form mentions the total amount that is paid during the quarter and the TDS amount that has been deducted. Form 26 ...

Aug - 2018

25

Section 194IA of Income Tax

Section 194IA of Income Tax

Section 194IA of Income Tax Section 194IA of the Income Tax Act is a legal provision which mandates the withholding of TDS (Tax Deducted at Source) on immovable property transactions. The provisions of Section 194IA applies to a resident transferee who is indebted to make payments to a resident tra ...

Jul - 2018

25

Matching Form 26AS & Form 16

Matching Form 26AS & Form 16

Matching Form 26AS & Form 16 According to the Income Tax Act, 31st July is the last day for filing an income tax return for the specified categories of person. Section 234F of the Act mentions that in case of delay in the filing of income tax returns, the person who is in default is liable to p ...

Jul - 2018

03

Correction of Form 26QB

Correction of Form 26QB

Correction of Form 26QB Form 26QB is a consolidated form which is intended to be filed for the deposit of TDS on property. Form26QB consists of details pertaining to the buyer, seller, the property being sold, sale consideration and other related details. The Government has facilitated the revision ...

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