As per the records of Centralized Processing Cell (TDS), the TDS Statement(s) for some of the quarters have not been submitted within the prescribed due date. Intimation u/s 200A of the Income Tax Act, 1961 intimating an outstanding demand for the relevant quarters, including demand under section 234E towards Fee for delayed filing of TDS…
With effect from February 1, 2014, it is mandatory to submit Form 27A generated by TDS/TCS FVU (File Validation Utility) duly signed, along the TDS/TCS statement(s). Any other Form 27A submitted will be treated as invalid submission and the same will be rejected by TIN-FC branches. (27/01/2014)
An assessee may have been allotted multiple PAN Card. The multiple PAN card may have been allotted to the Assessee for many reasons i.e. he may have applied multiple times for allotment of PAN and every time he has been allotted a PAN card or may have inadvertently allowed multiple PAN card by Income tax…
The procedure for PAN allotment process will undergo a change w.e.f.03.02.2014. From this date onwards, every PAN applicant has to submit self attested copies of 1. Proof of Identity (POI), 2. Proof of Address (POA) and 3. Date of Birth (DOB) documents Further person is also required to produce original documents of such POI/POA/DOB documents,…
The department has issued a notice to every Tax Payer stating that every tax payer should insist on getting Form 16/16A from their deductor downloaded only from TRACES website. (http://www.tdscpc.gov.in) Valid Form 16/16A: Valid Certificate downloaded from TRACES bear 7 character alphabet unique certificate number. It will have TDS-CPC logo on the left side and…
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NEW DELHI INSTRUCTION NO 1/2014, Dated: January 15, 2014 Certificate of Lower deduction or non-deduction of tax at source under section 197 of the Income-tax Act, 1961-matter regarding. As per the Citizens Charter the time line prescribed for a decision on…
The CBDT hass issued a Circular No. 01/2014 dated 13.01.2014 regarding deduction of TDS under Section 194J (chapter XVII-B of the Income Tax Act, 1961) on professional and technical services. This circular clarifies that on Professional and technical services fees paid by the payee to payer is not undercome TDS Deduction. This circular has issued by CBDT after the judgement of…
According to Indian Tax Laws, the receiver of service is required to do two things at the time of making any payment:- 1. Pay Service Tax on the services received 2. Deduct TDS on the payment made However, the confusion is whether TDS has to be deducted on amount including service tax or on amount…
There are two types of PAN verification procedure: 1. Online 2. Offline The Online PAN Verification can be verified by filling out the core details mentioned in the PAN Card. This facility can be used by the entities who receive copy of PAN application for any purpose. This facility can also be used by the…
Important Guidelines for payment towards liability on account of Tax Deducted / Collected at Source (in accordance with CGA Rules and Rule 125 of Income Tax Act) A. Central Government Account ( Receipts and Payments ) Rules, 1983: Date of Receipt for Cheques or Drafts: The Central Government Account (Receipts and Payments) Rules, 1983 contain,…