Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit): Default/ Failure Section Nature of Demand Quantum of demand…
View More Consequences of TDS defaultsTag: PAN
Payment of taxes -Do’s & Dont’s
Taxpayers, deductors or collectors can pay direct taxes through Authorised Bank branches either physically, through ATM or through internet. Type of Challans to be used for…
View More Payment of taxes -Do’s & Dont’sStructure of PAN
PAN stands for Permanent Account Number. This is a 10 character alpha- numeric number used for the identification of the tax paying Indian Nationals. Example:…
View More Structure of PANConsequences of TDS defaults
Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit): Default/ Failure Section Nature of Demand Quantum of demand…
View More Consequences of TDS defaultsKey Features -File Validation Utility (FVU) version 5.5
Change in validation for the field “PAN of Lender” for form 24Q-Q4 under Annexure II (i.e. Salary details) from F.Y. 2016-17 onwards: Existing Validation of…
View More Key Features -File Validation Utility (FVU) version 5.5Points to remember regarding TDS statement
Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it…
View More Points to remember regarding TDS statementFees and Penalty for Late Filing of TDS Returns
Fees and Penalty for Late Filing of TDS Returns are as follows: Section 234E-Levy of Fees Failure to submit TDS return on time will result in…
View More Fees and Penalty for Late Filing of TDS ReturnsIncome Tax Department simplifies linking PAN with Aadhaar
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 11th May, 2017. PRESS RELEASE Income Tax Department simplifies…
View More Income Tax Department simplifies linking PAN with AadhaarEmployers required to collect PAN of the lender banks from the employees to claim Interest in House Property in the salary return
The Finance Act, 2015 had introduced a new section 192(2D) of the Income-tax Act, wherein the employer was obliged to collect the necessary evidence or…
View More Employers required to collect PAN of the lender banks from the employees to claim Interest in House Property in the salary returnCBDT issues PAN and TAN within 1 day to improve Ease of Doing Business
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11th April, 2017 CBDT issues PAN and…
View More CBDT issues PAN and TAN within 1 day to improve Ease of Doing Business