Furnishing of information made more stringent and penalty introduced -Sections 195 and 271-I
Presently, when any person responsible for making a payment to a non-resident of any interest or other sum chargeable under the provisions of this Act,…
View More Furnishing of information made more stringent and penalty introduced -Sections 195 and 271-IAmendment relating to processing of TCS returns -Section 206CB w.e.f. June 01, 2015
A new Section 206CB is proposed to be introduced to facilitate the processing of TCS (tax collected at source) statements on the same lines as…
View More Amendment relating to processing of TCS returns -Section 206CB w.e.f. June 01, 2015Quick steps to generate TDS Certificate using TDSMAN
Below are the quick steps to generate TDS Certificate using TDSMAN Software: In TRACES Information menu 1. Request for Form 16A / Form 16 (Part…
View More Quick steps to generate TDS Certificate using TDSMANCBDT issues Circular for Early & Satisfactory Resolution of Taxpayers’ Grievances
CBDT has issued a circular for early & satisfactory resolution of taxpayers’ grievances relating to verification & correction of tax demand outstanding against them. The…
View More CBDT issues Circular for Early & Satisfactory Resolution of Taxpayers’ GrievancesFAQ on Online Correction
What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS/TCS statements online. Following are the various…
View More FAQ on Online CorrectionReasons to reject the correction in salary detail records by TDSCPC
Rejection reasons pertaining to salary details are as follows: In case of salary detail PAN update or delete of salary detail record, last total gross…
View More Reasons to reject the correction in salary detail records by TDSCPCReasons to reject the correction in deductee records by TDSCPC
Rejection reasons pertaining to deductee details are as follows: In a correction statement that updates / deletes deductee rows, verification keys from deductee data that…
View More Reasons to reject the correction in deductee records by TDSCPCAmendments pertaining to TDS from interest w.e.f June 01, 2015
TDS from interest (other than interest on securities)-Section 194A There are several amendments pertaining to TDS from interest. 3.1 Interest on fixed deposits with banks…
View More Amendments pertaining to TDS from interest w.e.f June 01, 2015Don’t misuse Forms 15G, 15H to avoid TDS
Imprisonment and fines await those who wrongly file the two forms to avoid tax on interest income. Getting a tax refund can be cumbersome as…
View More Don’t misuse Forms 15G, 15H to avoid TDSLate Filing of TDS Returns – Fees and Penalty
Fees and Penalty for Late Filing of TDS Returns are as follows: Section 234E-Levy of Fees Failure to submit e-TDS Statement on time will result…
View More Late Filing of TDS Returns – Fees and Penalty