Recently, ITAT Jaipur Bench in M.D.S. Universityvs. Assistant Commissioner of Income-tax held that, after the expiry of the financial year in which the proceedings, in the course of which action for the imposition of penalty has been initiated, are completed, or six months from the end of the month in which action for imposition of…
CPC(TDS) has released a survey “Deductor’s Survey Questionnaire: Your Feedback Matters” with an objective to understand the satisfaction of the deductors since the time CPC(TDS) and TRACES website came into existence. In this regard CPC(TDS) has issued a communication to deductors which is given below: Dear Deductor (TAN XXXXXXXXXX) Greetings from CPC(TDS) team! CPC(TDS) feels…
Due date for filing of TDS/TCS returns for Quarter 2 of FY:2014-15 is 15th October 2014. With the introduction of Section 234E, there is now a provision of stringent penalties for delayed filing of TDS returns. Failure to submit e-TDS Statement on time will result in fees on the deductor. If you delay or forget…
Due Date for payment of TDS Deducted/Collected during June is 7th July 2014 Please Note: In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every month or every part of the month during which the…
ITAT Bangalore Bench recently in an appeal held that any fees paid by the assessee to foreign agencies for availing the service of access to record of online consumers maintained by them, to carry out market research for its clients, will be regarded as royalty and liable to deduct tax at source while making payment…
ITAT Chennai Bench recently held that assessee is not liable to deduct tax at source for making payment to its foreign agents for rendering services abroad, if the foreign agent does not have a permanent establishment in India and the service rendered is not in the nature of technical service. Facts of the case: The…
Rejection reasons pertaining to challan details are as follows: Challan detail record on which correction has been filed does not exist in regular / previous statement In a correction statement, verification keys from challan data should match with the corresponding fields in regular statement Verification keys for Non Nil Statement – Last transfer voucher number,…
1. Last date for payment of tax deductions/collections for April-7th May 2014 2. Last date of filing of TDS/TCS returns for Q4 of F.Y. 2013-14 – 15th May, 2014 3. Last date for issuance of the TDS/TCS certificates for Q4 – 30th May, 2014 * The above is applicable for deductors other than the Office of the…
e-TDS return has to be prepared in accordance with the file format prescribed by the Income Tax Department. NSDL has provided free downloadable utility at http://tin-nsdl.com for the purpose of preparation of e-TDS return. Alternatively, various softwares are available for preparation of TDS returns. One can use TDSMAN software for preparation and filing of e-TDS Returns smartly and efficiently. Following points…
The due date of TDS return filing for the 2nd Quarter is 15th October and during this year it is surrounded by a number of holidays including Dussehra, Navami, Ayutha Puja, Durga Mahashtami, Weekend (Saturday & Sunday). Keeping in view the stringent penalty in late filing of returns (Rs. 200/- per day), we strongly recommend…