1. Last date for payment of tax deductions/collections for April-7th May 2014 2. Last date of filing of TDS/TCS returns for Q4 of F.Y. 2013-14 – 15th May, 2014 3. Last date for issuance of the TDS/TCS certificates for Q4 – 30th May, 2014 * The above is applicable for deductors other than the Office of the…
CPC (TDS) has issued a letter to all deductors with information regarding the release of new feature Aggregated TDS Compliance at Organizations PAN level. The letter produced is here as under: Date of communication: 03/05/2014 Dear Deductor, In our endeavor to facilitate improved TDS administration, CPC (TDS) feels glad to provide you with the feature of…
One can avoid defaults in the TDS statements, by way of adherence to the following basic principles: Timely Payment of total taxes deducted/ collected Correct Reporting with regard to PANs, Tax Rate and Challans Complete Reporting for all Deductees Timely filing of TDS Statements Following are some important facts to be adhered to,…
Businesses especially small and medium scale has been badly hit by demand notices from Income Tax Department for payment of fees for late filing of TDS returns. Actually with effect from July 1, 2012, the IT Department has made it mandatory to pay late fee of Rs. 200 per day since the due date, in…
SECTION 139D OF THE INCOME-TAX ACT, 1961 – FILING OF RETURN IN ELECTRONIC FORM – EXTENSION OF FACILITY TO TAXPAYERS TO VERIFY IF DEMAND IN THEIR CASE IS DUE TO TAX CREDIT MISMATCH ON ACCOUNT OF INCORRECT FURNISHING OF SPECIFIED PARTICULARS AND SUBMIT RECTIFICATION REQUESTS WITH CORRECT PARTICULARS OF TDS/TAX CLAIMS FOR CORRECTION OF THESE…
The due date to file TDS/TCS statement for government deductors has been extended by the CBDT for the following financial years: (i) FY 2012-13 – 2nd to 4th Quarter (ii) FY 2013-14 – 1st to 3rd Quarter Government deductors require AIN (Accounts Officers Identification Numbers) to file returns. The allotment of AIN was…
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,…
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…
TDSCPC.GOV.IN has provided a facility to check the Challan Status Query vide which it can be checked that has there any challan not claimed by deductor in the particular Financial Year or not. This function is helpful to resolve the default notice issued by Income Tax Department. In case any deductor receive demand notice from…