1.What is a justification report? It is a document which serves as an annexure to the intimation to be sent to the deductor. Intimation will…
View More Frequently Asked Questions (FAQ) on Justification ReportTag: TAN
New PAN application form 49A, 49AA Notified: Documents required to apply PAN card Modified
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,…
View More New PAN application form 49A, 49AA Notified: Documents required to apply PAN card ModifiedMandatory Quoting of PAN and TAN on TDS Certificate for AY: 2014-15
Section 203A of the Act makes it obligatory for all persons responsible for deducting tax at source to obtain and quote the Tax deduction and collection Account No (TAN) in the…
View More Mandatory Quoting of PAN and TAN on TDS Certificate for AY: 2014-15Complete Upload Procedure of e-TDS/TCS/AIR Online Return
NSDL e-Governance Infrastructure Limited launched an online upload of e-TDS return facility enabling entities to directly furnish (upload) their e-TDS returns (Form 24, 26 and…
View More Complete Upload Procedure of e-TDS/TCS/AIR Online ReturnPassword of Justification report downloaded from TRACES
The Password to unzip Justification Report file is: ‘JR_<TAN>_<Form Type>_<Quarter>_<FY>’, e.g., JR_AAAAA1235A_24Q_Q3_2010-11 Â
View More Password of Justification report downloaded from TRACESPersons responsible to deduct TDS and the responsibilities of the deductor
The persons responsible to deduct TDS are mainly: Principal Officer of a company for TDS purpose including the employer in case of private employment or…
View More Persons responsible to deduct TDS and the responsibilities of the deductorConsequences 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 or…
View More Consequences of TDS defaultsPenalty Chart under the Income Tax Act, 1961
Given below is the chart which shows section under which penalty can be imposed, nature of default and quantum of penalty. PENALTIES UNDER INCOME TAX…
View More Penalty Chart under the Income Tax Act, 1961TDS on transfer of immovable properties w.e.f 01.06.2013
From June 1st 2013, transfer by a resident of immovable property (other than agricultural land) where consideration exceeds Rs 50 lakhs would attract TDS @…
View More TDS on transfer of immovable properties w.e.f 01.06.2013Reasons for mistakes in credit for tax payments or TDS
A major reason for difference in refund amount during processing is that the details of tax payment or TDS do not match with the data…
View More Reasons for mistakes in credit for tax payments or TDS