Central Board of Direct Taxes (CBDT) | Press Release | 20.01.2019 New Delhi: Central Board of Direct Taxes (CBDT) today said that certain news items that appeared in a section of media regarding enmasse issue of prosecution notices to small companies for TDS default are completely misleading and full of factual inaccuracies. CBDT clarified that…
After launching the ambitious e-nivaran facility for online redressal of taxpayers’ grievances, the Income Tax Department has now opened these windows at its 60 special offices across the country. The facility will soon be launched at 100 more such special tax offices, called Aaykar Sampark Kendras (ASKs), as there has been a slight delay in…
F.No. DGlT(5)/CPC(TDS)/NOTIFICATION/2016-17 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 11 /2016 New Delhi, 2nd December, 2016 Subject: Procedure for the purposes of furnishing and verification of Form 26A for removing of default of Short Deduction and/or Non Deduction of Tax at Source – Reg….
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 9th September, 2016 Press Release Sub :- CBDT Extends due date for filing of Income Tax Returns-reg The due date for filing of Income tax returns by tax payers whose accounts are required to be audited under…
Non-resident investors who do not provide permanent account number will no longer have to face higher tax deduction at source. The income tax department has eased norms for non-resident investors, who will not be subjected to a higher rate of 20% tax deduction at source or TDS on their interest earnings, royalty or technical fee…
Background Recently, the Central Board of Direct Taxes (CBDT) has issued a Notification amending Income-tax Rules, 1962 (the Rules) with respect to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS). The amended rules introduce Form 12BB using which the employees could declare relevant details to the employer to estimate tax deduction at…
Background The Income-tax Act, 1961 (the Act) provides exemption from tax in respect of allowances granted by an employer to its employees in order to meet specific expenses to the extent actually incurred. In case the allowances are not spent for the specific purposes or are not fully spent, then such unspent portion is taxable…
Circular No.18/2016 F.No 142/32/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 23rd May, 2016 Sub: Relaxation for Furnishing of UID in case of Form 15G/15H for certain quarters-reg The existing provisions of section 197A of the Income-tax Act, 1961(the Act) inter alia provide that tax…
After years of labour, the Income Tax department has finally got a new technology tool to check the menace of duplicate PAN cards which also allows the taxman to ‘kill’ the second one. An ambitious electronic smart platform called the Income Tax Business Application-Permanent Account Number (ITBA-PAN) has been operationalised by the department which will…
Income Tax officials sometimes penalize you even if you correctly comply the provisions. You being a taxpayer whose tax has been deducted at source but not deposited to the Governments account by the deductor and you receive a demand notice from the Department. This is the common issue of the taxpayer that when the deductor…