The Income Tax Department has released today (16th June, 2017), the following new File Validation Utilities: FVU version 5.5 – For statement pertaining to FY 2010-11 onwards FVU version 2.151 – For statement up to FY 2009-10 Click here to view the key features of FVU version 5.5 Click here to view the key features…
Form 16A for non salary deduction is to be issued within 15 days of filing the quarterly returns. However as per the Income Tax department in case of Form 16 (for salary deduction) the due date as per rule 31 was 31st May, 2017 which was the same as the due date to file TDS…
Circular No.18/2016 F.No 142/32/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 23rd May, 2016 Sub: Relaxation for Furnishing of UID in case of Form 15G/15H for certain quarters-reg The existing provisions of section 197A of the Income-tax Act, 1961(the Act) inter alia provide that tax…
The Income Tax (I-T) department will now add interest amount to a delayed refund made on excess tax deducted at source (TDS) cuts and will also not litigate with the deductor on this issue in the future. The Central Board of Direct Taxes (CBDT) has issued a circular in this regard to the assessing officers…
CBDT has issued a circular for early & satisfactory resolution of taxpayers’ grievances relating to verification & correction of tax demand outstanding against them. The Income Tax Department has taken note of grievances of taxpayers arising on account of outstanding tax demand which may be inaccurate due to non-reporting or delayed reporting of TDS by…
CBDT has released Circular no. 17/2014 which contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2014-15 and explains certain related provisions of the Act and Income-tax Rules, 1962. The released circular has been given below: CIRCULAR NO : 17/2014 F.No. 275/192/2014-IT(B) Government of…
Due Date for filing of return of Income for Assessment Year 2014-15 extended from 30th September, 2014 to 30th November, 2014 in Specified Cases F.No.153/53/2014-TPL (Pt.I) GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) North Block, TPL Division, New Delhi Dated: September 26, 2014 Subject: Extension of due date…
For the convenience of the taxpayers, the Income Tax Department has decided to keep the offices open for accepting the returns of income during normal office hours on 26th July and 27th July, 2014, being Saturday and Sunday. This direction has been issued by the Central Board of Direct Taxes in exercise of powers conferred…
CBDT has issued a notification 32/2014 dated 23-06-2014 regarding wealth tax return. CBDT has prescribed that this form can be filed online with or without digital signature. For certain class of Assessee i.e. Individual/HUF not liable to tax audit e-filing is optional but for other class of Assessees i.e. Individual/HUF liable to audit and Companies …
With effect from June 1, 2014, Deductors/Collectors need not submit copy of Provisional Receipt of original statement and Statement Statistics Report (SSR) for furnishing e-TDS/TCS correction statement. Income Tax Department has revised the procedure for acceptance of e-TDS/TCS correction statements. The same is intimated vide Circular No: NSDL/TIN/2014/024 dated 28 May, 2014. The revised procedure…