Validation for non-update of Deductee/Collectee records from Annexure I and Annexure ll in TDS/TCS correction statements when Form 26A/27BA has been generated. Deductee/Collectee against which Form 26A/27BA has been generated at Income Tax Department where update will not be allowed on certain fields in Annexure I of Form 24Q, 26Q and 27EQ while submitting correction statement….
Validation for PAN of Landlord field has been revised for form 24Q-Q4 under Annexure II (i.e. Salary details) from F.Y. 2016-17 onwards. Existing Validation of structurally valid PAN (for field no. 41, 43, 45 and 47 as per data structure) has been relaxed. These fields may contain any value from the below mentioned when the landlord does not…
This post is NULLIFIED-based on the rejoinder email of NSDL (tin_returns@nsdl.co.in) dated 19th July, 2016 which can be accessed as under: https://blog.tdsman.com/2016/07/rejoinder-email-dated-19th-july-2016-change-tcs-return-filing-dates/ After the release of the new File Validation Utility (FVU Ver 5.1 & FVU Ver. 2.147) on 28th June 2016, NSDL (tin_returns@nsdl.co.in), through an email has informed Tax Deductors / Collectors about this…
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…
Central Board of Direct Taxes (CBDT) has issued a circular regarding Tax Deduction at Source (TDS) on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisements. The issued circular has been given below: Circular No. 05/2016 F.No.275 /06/2016-IT(8) Government of India Ministry of Finance Department of Revenue Central…
A circular has been issued by CBDT regarding non-deposit of Tax Deducted at Source. CBDT has mentioned in the circular that as per Section 199 of the Act credit of Tax Deducted at Source is given to the person only if it is paid to the Central Government Account. However, as per Section 205 of…
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…
According to CPC (TDS), there are outstanding short payment defaults for TDS statements filed by deductors. The letter issued by CPC (TDS) to deductors in this regard is given as followed: Dear Deductor, As per the records of the Centralized Processing Cell (TDS), there are outstanding Short Payment Defaults for TDS Statements filed by you, however,…
Last date for issuance of TDS/TCS certificates for Q1 of FY: 2014-15 – 30th July, 2014 The above is applicable for deductors other than the Office of the Government Delay in requesting certificates may involve a fine of Rs. 100 per day u/s 272(A)(g) subject to an upper limit of the tax deducted. Click here for…
CPC(TDS) has observed from its records that Flag “B” (for 15G/H Forms) has been wrongly raised in the quarterly TDS Statements. CPC(TDS) has issued a letter to all deductors in this regard. The letter produced is given as under: Dear Deductor ( TAN XXXXXXXXXX ), CPC(TDS) feels glad to provide you with the new feature…