Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 7/2016 New Delhi, 4th May, 2016 Procedure for submission of declaration by person claiming receipt of certain incomes without deduction of tax in Form 15G/15H under sub-section (1) or under sub-section (1A) of section 197A of the…
In Budget 2016, FM announced an overhaul of Indias tax deducted at sources (TDS) system. Government hasreduced the rates of Tax Deducted at Source (TDS) on several deductions with a view to improve cash flow, especially of small tax payer. Under the scheme of deduction of tax at source as provided in the Act, every person…
F. No.: DGIT(S)/CPC(TDS)/DCIT/15GH /2015-16/14425-556 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 4/2015 New Delhi, 1st of December 2015 Subject: Simplification of procedure for Form No.15G & 15H-regarding Section 197A of the Income tax Act provides for no deduction in certain case by submitting a…
CPC (TDS) has issued a letter to all deductors with information regarding the release of new feature Aggregated TDS Compliance at Organizations PAN level. The letter produced is here as under: Date of communication: 03/05/2014 Dear Deductor, In our endeavor to facilitate improved TDS administration, CPC (TDS) feels glad to provide you with the feature of…
CPC(TDS) has issued a letter to all deductors regarding clarification of Lower Deduction/No deduction u/s 197 or 197A The letter produced is here as under: Date of communication: 04/02/2014 Dear Deductor, Greetings from CPC(TDS) team! CPC(TDS) team feels glad to constantly update our stakeholders with relevant advisory communications from time to time. This communication…
SECTION 197A OF THE INCOME-TAX ACT, 1961 – DEDUCTION OF TAX AT SOURCE – NO DEDUCTION IN CERTAIN CASES – SPECIFIED PAYMENT UNDER SECTION 197A(1F) NOTIFICATION NO. 56/2012 [F. NO. 275/53/2012-IT(B)], DATED 31-12-2012 In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961), the Central…