Will North Carolina residents get a $2,000 dividend check? Trump's recent proposal

President Donald Trump posted on Truth Social about using tariff revenue to pay dividends to Americans. Trump suggested ...
Tax Guru

Delay in Form 10B Filing Cannot Deny Trust Exemption: Madras HC

Madras High Court held that a trust’s legitimate tax exemption cannot be denied merely for delay in filing Form 10B, directing the Assessing Officer to allow benefits under Section ...
Tax Guru

Delay in filing Form No. 10 condoned as likely to cause genuine hardship

Bombay High Court held that delay in filing of Form No. 10 was condoned since activities of trust are genuine and denial of benefit of accumulation u/s. 11(2) due to delay in Form No. 10 would cause ...
SunStar

Tax Notes: BIR issues supplemental guidelines on excise tax refund/credit for unused cigarette, tobacco and vape stamps

The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) 94-2025 on Sept. 24, 2025, providing ...
Tax Guru

Exemption u/s 11 Cannot Be Denied for Minor Delay in Uploading Form 10B ITAT Chennai

Tribunal held that filing of Form 10B is a procedural requirement, not a mandatory condition for exemption under Section 11, allowing relief to a charitable trust despite a four-day delay in uploading ...
Tax Guru

ITAT Mumbai Condones 39-Day Delay in Form 10B Filing

ITAT Mumbai ruled that delay in filing Form 10B by Sacred Heart Church should not deny exemption under Section 11 and remanded the matter for ...
Tax Guru

Gauhati HC Quashes GST Order Passed Without Proper Show Cause Notice

The Gauhati High Court set aside a GST order issued without a valid show cause notice under Section 73(1) of the AGST Act, holding that a DRC-01 summary cannot replace a detailed ...
Tax Guru

GST order passed without considering grounds cannot be sustained

Telangana High Court held that order passed under GST without considering grounds urged by the petitioner is not sustainable. Accordingly, order set aside and matter remitted back for fresh ...
Tax Guru

TDS on NRI Property Purchase: Form 26A Proof Can Shield Buyer from Default u/s 201

ITAT Mumbai ruled that relief under the first proviso to Section 201(1) is available if Form 26A certifying the deductee’s tax payment is furnished. As the buyer obtained the certificate post-appeal, ...
Tax Guru

ITAT Allows TDS Credit Based on Form 26AS Despite Turnover Mismatch in Books

The Tribunal held that TDS credit cannot be restricted solely due to differences between reported turnover and Form 26AS if the assessee has correctly offered the income for tax. The appeal was ...
NerdWallet

IRS Form 944: Instructions and Who Needs to File It

IRS Form 944 reports taxes withheld from employee paychecks. It's a version of Form 941 appropriate for some businesses. Many, or all, of the products featured on this page are from our advertising ...
Tax Guru

FTC Cannot Be Denied If Form 67 Filed late but Before Assessment Completion

Tribunal held that where Form 67 is submitted before the completion of assessment, foreign tax credit must be allowed even if the filing was delayed. It observed that neither the Act nor Rule 128(9) ...