Here are the steps to download NSDL consolidated file from TRACES website: Login to TRACES: Login to TRACES as a deductor by entering User Id and Password and click on “Go”. Landing page of TRACES website will be displayed. Request for NSDL Conso File: Under “Statements/Payments”, click on “Request for NSDL Conso File to place…
As you know that to revised eTDS return Consolidated Statement file is required and for that also now you have to go to the new website tdscpc.gov.in to download consolidated file. After download the consolidated file from new website, we have to unzip it and to unzip this file, password is required.Correct password to open…
Assessee is entitled to the credit of the TDS mentioned in the TDS certificates issued by the contractor, whether the said certificate is issued in the name of the Joint Venture or in the name of a Director of the assessee company. They have considered the terms of the agreement dated 12-03-2003 among the parties…
Commission paid to the credit card companies cannot be considered as falling within the purview of S.194H. Even though the definition of the term commission or brokerage used in the said section is an inclusive definition, it is clear that the liability to make TDS under the said section arises only when a person acts…
NSDL on behalf of the Income Tax Department has announced the shifting of the entire TDS data from their website to TRACES website (www.tdscpc.gov.in). After the shifting is completed, all the following activities of deductors will be done through TRACES website: Registration/ Re-registration of TAN Consolidated(TDS) file download Download of Form 16/Form 16A Download of…
CBDT has vide Notification No. 3/2013, dated 15-1-2013 introduced Centralised Processing of Statements of Tax Deducted at Source Scheme, 2013 for centralised processing of statements of tax deducted at source. Vide clause 4 of the notification CBDT has specified that correction statement of tax deducted at source shall be furnished under digital signature or verified…
The tribunal took the view that the addition made was only on the basis of the discrepancy in the TDS Certificate and not on the basis of any finding that some extra charges were received by the assessee, but had not been accounted for. The tribunal also held that when the issuer of the certificate…
Undisputedly, the assessee company earned income of Rs. 4,65,00,000/- only by way of Engineering fees. Another amount of Rs 4,65,00,000/- had been received as tooling advance. This latter amount was to be paid to the vendors of M/s. Mahindra and Mahindra Ltd. This payment was a reimbursement. That being so, it could not be considered…
Admittedly, as per TDS certificate issued by Mysore Breweries Limited, the total reimbursement made to the assessee as per their newly arrangement was Rs. 3,35,85,000/-. However, in the books of assessee, it was only Rs. 2,54,97,000/-. The assessee had explained that a credit note of Rs. 80,88,000/- issued by it in favour of Mysore Breweries…
TDS (Tax Deducted at Source) is one of the modes of collecting income tax from the assessees in India. This is governed under Indian Income Tax Act, 1961, by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service (IRS), Ministry of Finance, Govt. of…