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…
As earlier reported that CBDT has changed pan application procedure and issued a circular no. 11 dated 16.01.2014. In given circular CBDT directed TIN-FC to verify identity proof, Residential proof and DOB proof of PAN applicant from original documents. Now the decision has been reviewed and put on hold till further orders. CBDT has released…
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…
According to Indian Tax Laws, the receiver of service is required to do two things at the time of making any payment:- 1. Pay Service Tax on the services received 2. Deduct TDS on the payment made However, the confusion is whether TDS has to be deducted on amount including service tax or on amount…
CBDT (Central Board of Direct Taxes) has amended the rules pertaining to application of new pan card issued in its notification no. 96 dated December, 23 2013 regarding new format of PAN application; annexure A, B and C for form 49A and annexure 1 for form 49AA. There is a new list of documents required…
The tax payers are required to pay their december installment of Advance tax on or before 15th December, 2013. The taxpayers can make payments in the designated branches of the authorized banks, electronically or physically, as per law. The banks are closed on 15th December, 2013, being a Sunday. Therefore, to facilitate payment of this…
In the case of pensioners who receive their pension from a nationalized bank, the instructions contained in this circular shall apply in the same manner as they apply to salary income. The deductions from the amount of pension under section 80C on account of contribution to Life Insurance, Provident Fund, NSC etc., if the pensioner…
SECTION 245 OF THE INCOME-TAX ACT, 1961 – REFUNDS – SET OFF OF REFUNDS AGAINST TAX REMAINING PAYABLE – DATA PERTAINING TO NOTICES ISSUED UNDER SECTION 245 BY CPC, BANGALORE WHERE DEMAND/REFUND IS GREATER THAN RS. 5000 LETTER [F. NO. DIT(S)-III/CPC/2013-14/REFUND ADJUSTMENT], DATED 22-10-2013 In pursuance to the decision of Full Board and minutes of…