TRACES department has issued the following letter to all the deductors: Dear Deductor, Greetings from Centralized Processing Cell of TDS! Your attention is drawn towards…
View More Clarification by TRACES on Challan DateTag: Income Tax
Document on which PAN required to be quoted
PAN should be quoted on all: Income-tax / TDS / TCS Returns, Correspondence with tax department, Tax challans, Correspondence, bills, vouchers and other documents which…
View More Document on which PAN required to be quotedProcedure for filing eTDS/TCS Returns with Insufficient Deductee PAN
Finance Act, 2003 amended section 206 of Income Tax Act, 1961 to make it mandatory for corporate deductors to furnish their TDS returns in electronic…
View More Procedure for filing eTDS/TCS Returns with Insufficient Deductee PANRBI : Banks to ensure timely issue of TDS Certificate to customers
Below letter has been issued to all Banks by RBI in which RBI has directed all Banks to issue TDS certificate to Customers on time. RBI/2013-14/361…
View More RBI : Banks to ensure timely issue of TDS Certificate to customersNo adjustment of refunds against old demands if either is up to Rs 5000/- : CBDT
SECTION 245 OF THE INCOME-TAX ACT, 1961 – REFUNDS – SET OFF OF REFUNDS AGAINST TAX REMAINING PAYABLE – DATA PERTAINING TO NOTICES ISSUED UNDER…
View More No adjustment of refunds against old demands if either is up to Rs 5000/- : CBDTProcedure for filing TDS returns with insufficient deductee PAN
As per instructions issued by the Central Board of Direct Taxes (CBDT), it is mandatory for deductors to file TDS/TCS returns with a threshold limit…
View More Procedure for filing TDS returns with insufficient deductee PANFiling or Non-Filing of Income Tax Return u/s. 139(1) and u/s. 139(1C)
Specified class or classes of persons to be exempted from filing Return of Income [Section 139(1C)]. (1) Under section 139(1), every person has to furnish…
View More Filing or Non-Filing of Income Tax Return u/s. 139(1) and u/s. 139(1C)Tax Liability and Exemptions after retirement/superannuation
On the matter of tax exemption or liability after retirement / superannuation let us have a look at the basic provision related to tax-ability of…
View More Tax Liability and Exemptions after retirement/superannuationTDS on Real estate Industry
Concept of TDS for Real estate Industry: Vide Finance Act 2013; concept of TDS on Real estate transactions was introduced in India. As per Newly…
View More TDS on Real estate IndustryDeductors not depositing TDS by due date are liable for prosecution
Tax deductors who default in depositing TDS by due date shall be liable for prosecution: CBDT Central Board of Direct Taxes (CBDT) issued a press…
View More Deductors not depositing TDS by due date are liable for prosecution