Income Tax rules regarding refund of excess deposit of TDS by deductor has been amended in notification 11/2013 dated 19.02.2013. In this notification deductor can claim refund of excess TDS by filing the return electronically on New form 26B with digital signature only .New rule 31A(3A) has been inserted under rule 31A. Further Director general…
A judgment is an authority for what it decides. It applies only to those cases in which the requisite amount of tax has been deducted at source out of payments made to the payee and thereafter deposited on or before the due date stipulated by law. The said judgment does not apply to a case…
INCOME-TAX (SECOND AMENDMENT) RULES, 2013 – AMENDMENT IN RULES 31A & 31AA; SUBSTITUTION OF RULES 31ACB, 37J AND FORM NOS.15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ AND INSERTION OF FORM NO. 26B NOTIFICATION NO. 11/2013[F.NO.142/31/2012-SO(TPL)]/SO 410(E), DATED 19-2-2013 In exercise of the powers conferred by section 295 of the Income-tax…
It is compulsory for all deductors to download TDS Consolidated Statement file and TDS Certificate from TRACES website only. Facility to download the Consolidated file statement (file required for making corrections ) and TDS Certificate (Form 16 and Form 16A) is now discontinued from TIN – NSDL Website. All the requests will now be processed…
MISMATCH OF TDS 1. A major problem noted across the country is that of mis-match of TDS payments claimed by the deductees in their returns of income vis- a -vis the TDS payments reflected by the deductors in their e-TDS returns and also the non reflection of the TDS payments in the system, in case…
Analysis of CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011 If a deductor has deposited excess amount of TDS , the procedure for getting refund was given in Board Circular 285 dated 21-1-1980. Now CBDT has issued new circular in this respect. This Circular 2/2011 is issued in suppression of Circular No 285 / 21-10-1980 It…
The trained man-power deployed abroad is drawn for the employees of its member companies. However, such deployed man-power continue to be the employees of its member companies but are seconded to the projects abroad by the respondent-assessee company. In the assessment year under consideration, the assessee had claimed an amount of Rs. 3.93 crores as…
www.tdscpc.gov.in has now provided a new form 16A PDF generation utility lighter version with small size and with digital signature feature. The steps to install newer version of form 16A PDF conversion utility is provided below:
As you know that to revised eTDS return Consolidated Statement file is required and for that also now you have to go to the new website tdscpc.gov.in to download consolidated file. After download the consolidated file from new website, we have to unzip it and to unzip this file, password is required.Correct password to open…
Assessee is entitled to the credit of the TDS mentioned in the TDS certificates issued by the contractor, whether the said certificate is issued in the name of the Joint Venture or in the name of a Director of the assessee company. They have considered the terms of the agreement dated 12-03-2003 among the parties…