Advisory from CPC (TDS) regarding spurious emails
CPC (TDS) has released an advisory communication to all deductors and taxpayers regarding spurious email. CPC (TDS) has advised them to maintain strong Password for…
View More Advisory from CPC (TDS) regarding spurious emailsPutting TDS provisions for recurring deposits to work
TDS on recurring deposits makes investors either submit the exemption forms if there is no taxable income. In case of TDS on RD, they may…
View More Putting TDS provisions for recurring deposits to workIf tax is deducted under a wrong provision of the Income-tax Act, the payment is to be disallowed under Section 40(a)(ia) of the said Act
Recently, the Kerala High Court (High Court) in the case of P V S Memorial Hospital Ltd1 (the taxpayer) held that if the tax is…
View More If tax is deducted under a wrong provision of the Income-tax Act, the payment is to be disallowed under Section 40(a)(ia) of the said ActImportant Due Dates for the month of August 2015
7 August 2015 – Due date for deposit of Tax deducted/collected for the month of July, 2015 15 August 2015 – Quarterly TDS certificate (in…
View More Important Due Dates for the month of August 2015Tax is not to be deducted at a higher rate of 20 percent under Section206AA of the Income-tax Act when the benefit of tax treaty is available
Recently, the Bangalore Bench of the Income-tax Appellate Tribunal (the Tribunal) held that there is no scope for the tax deduction at source (TDS) at…
View More Tax is not to be deducted at a higher rate of 20 percent under Section206AA of the Income-tax Act when the benefit of tax treaty is availableThings to note to avoid notice from Department
With the Income Tax Department becoming net savvy and going online, it has become very easy for them to identify discrepancies in your papers and…
View More Things to note to avoid notice from DepartmentDeposit TDS by 7th August, 2015 for tax deducted during July 2015
The due date for payment of TDS deducted during July 2015 is 7th August, 2015 Please Note: For delayed payments, interest @ 1.5 for each…
View More Deposit TDS by 7th August, 2015 for tax deducted during July 2015Reasons to reject the correction in challan detail by TDS-CPC
Rejection reasons pertaining to challan details are as follows: Challan detail record on which correction has been filed does not exist in regular / previous…
View More Reasons to reject the correction in challan detail by TDS-CPCClosure of defaults in Quarterly TDS Statements from Financial Year 2007-08 onwards
CPC(TDS) reminder communication to banks regarding closure of defaults in Quarterly TDS Statements from Financial Year 2007-08 onwards. The issued communication has been given below:…
View More Closure of defaults in Quarterly TDS Statements from Financial Year 2007-08 onwardsAvail the Benefit of Intermediate Default Communications and Avoid Intimations from CPC (TDS)
Dear Deductor, As you may be aware by now that the Centralized Processing Cell (TDS) is informing you of PAN and Challan Errors, through an…
View More Avail the Benefit of Intermediate Default Communications and Avoid Intimations from CPC (TDS)