Addition not justified merely on the basis of discrepancy in TDS certificate
The tribunal took the view that the addition made was only on the basis of the discrepancy in the TDS Certificate and not on the…
View More Addition not justified merely on the basis of discrepancy in TDS certificateCredit is to be allowed in respect of TDS made on higher amount of reimbursement than actually offered to tax
Undisputedly, the assessee company earned income of Rs. 4,65,00,000/- only by way of Engineering fees. Another amount of Rs 4,65,00,000/- had been received as tooling…
View More Credit is to be allowed in respect of TDS made on higher amount of reimbursement than actually offered to taxNo addition for difference in income as per profit and loss account & TDS certificate
Admittedly, as per TDS certificate issued by Mysore Breweries Limited, the total reimbursement made to the assessee as per their newly arrangement was Rs. 3,35,85,000/-.…
View More No addition for difference in income as per profit and loss account & TDS certificateTDS/TCS Compliances for 3rd Quarter of F.Y. 2012-13
TDS (Tax Deducted at Source) is one of the modes of collecting income tax from the assessees in India. This is governed under Indian Income…
View More TDS/TCS Compliances for 3rd Quarter of F.Y. 2012-13No penalty & interest for non deduction of TDS if deductee-payee having no tax liability
There cannot be any dispute that an assessee who is having losses cannot be compelled to pay the income-tax, as the Income-tax Act does not…
View More No penalty & interest for non deduction of TDS if deductee-payee having no tax liabilityBanks suggest reintroduction of deduction u/s. 80CCF & increase in 194A TDS limit
Existence of Efficient Financial Markets is Paramount for Achieving Economic Growth: FM The Union Finance Minister Shri P .Chidambaram said that existence of efficient financial…
View More Banks suggest reintroduction of deduction u/s. 80CCF & increase in 194A TDS limitHow to register your TAN at TRACES: FAQ
TRACES stands for TDS Reconciliation Analysis and Correction Enabling System and has been set up by TDS Centralised Processing Cell of the income-tax department. TRACES…
View More How to register your TAN at TRACES: FAQTRACES: new website to replace TIN-NSDL for TDS return Filing, Matching, correction, Form 16/16A, FVU files
TRACES stands for TDS Reconciliation Analysis and Correction Enabling System and has been set up by TDS Centralised Processing Cell of the income-tax department. TRACES…
View More TRACES: new website to replace TIN-NSDL for TDS return Filing, Matching, correction, Form 16/16A, FVU filesNo deduction in certain cases – specified payment under section 197A(1F)
SECTION 197A OF THE INCOME-TAX ACT, 1961 – DEDUCTION OF TAX AT SOURCE – NO DEDUCTION IN CERTAIN CASES – SPECIFIED PAYMENT UNDER SECTION 197A(1F)…
View More No deduction in certain cases – specified payment under section 197A(1F)Grossing up in absence of PAN should be at rates in force and not at 20%
As regards the grossing up u/s 195A of the Income-tax Act is concerned, we find that the provision reads as under: [In a case other…
View More Grossing up in absence of PAN should be at rates in force and not at 20%