If tax was deductible on 2nd June (i.e. at the time of giving credit or actual payment of the dues whichever is earlier) but was…
View More Calculation of Late Deduction InterestCategory: General
Employers required to collect PAN of the lender banks from the employees to claim Interest in House Property in the salary return
The Finance Act, 2015 had introduced a new section 192(2D) of the Income-tax Act, wherein the employer was obliged to collect the necessary evidence or…
View More Employers required to collect PAN of the lender banks from the employees to claim Interest in House Property in the salary returnTDS Compliances for the Month of May 2018
7th May – last date for TDS/TCS payment for deductions/collections during April 15th May – last date of filing TCS Returns for FY: 17-18, Quarter…
View More TDS Compliances for the Month of May 201830th April – last date for TDS payment
Filing of TDS Returns for the quarter ended March 2018 (FY:2017-18 Quarter 4) is already under way since 1st April. Last date for payment of…
View More 30th April – last date for TDS paymentWhat is form 26QC?
From 1st June, 2017 individuals & HUF’s who are not under Tax Audit (under section 44AB) and does not have a Tax Account No. (TAN) while…
View More What is form 26QC?What is form 16C?
Form 16C is the newly introduced TDS certificate to be issued by rent payer (deductor) i.e. individuals & HUF’s who are not under Tax audit…
View More What is form 16C?Section 194IB – TDS on Rent (for Individuals & HUF)
Effective from 1st June 2017, individuals & HUF not covered under tax audit have been subjected to deduct tax at source for rent payments if it…
View More Section 194IB – TDS on Rent (for Individuals & HUF)How can foreign deductees without PAN avoid higher TDS?
NRI’s and foreign companies need to furnish PAN details or else they have to pay higher TDS rates. However, they can avoid higher TDS in…
View More How can foreign deductees without PAN avoid higher TDS?Where would deduction u/s 80CCD(1B) appear in Form 16 Part B ?
With effect from FY:2015-16, for investment in NPS, taxpayers can avail additional exemption of up to Rs. 50,000 as per Section 80CCD(1B)Â while computing the…
View More Where would deduction u/s 80CCD(1B) appear in Form 16 Part B ?What is the time-limit for passing order under section 220(2A)?
The Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner must pass order, either accepting or rejecting assessee’s application, to reduce or waive…
View More What is the time-limit for passing order under section 220(2A)?