Individuals and HUFs paying rent of Rs 50,000 or more per month will now have to deduct 5% tax at source i.e TDS at the rate of 5%, as per Budget 2017 proposals. This move is aimed at ensuring that recipients of large rental incomes come into the tax net as they would be forced…
(Q1.) Can I apply for TDS refund offline? No, deductor cannot apply for refund offline. (Q2.) Form which FY can deductor claim for Refund? Deductor can apply for TDS refund from FY 2007-8 onwards for Form type 24Q, 26Q, 27EQ, 27Q. (Q3.) Is DSC mandatory for Refund? Yes (Q4.) Deductor is unable to submit the…
Last date of TDS payment for the month of December, 2016 – 7th January, 2017 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…
F.Ro. DGIT(S)/CPC(TDS)/NOTIFICATION/2016-17 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 12/ 2016 New Delhi, 8th December, 2016 Subject: Procedure for the purposes of furnishing and verification of Form 27BA for removing of default of Short Collection and/or Non Collection of Tax at Source –…
7 December 2016 – Due date for deposit of Tax deducted/collected for the month of November, 2016. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan 7 December 2016 –…
Here are 10 things to know about sms alerts on Salary TDS Deduction: 1) As many as 2.5 crore salaried taxpayers will now receive SMS alerts from the Income Tax Department regarding their quarterly TDS deductions. The tax department plans to offer this facility on a monthly basis and extend the service to 4.4 crore…
Due Date for payment of TDS is 7th November 2016 for tax deducted during October 2016 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…
Healthy practices for error-free TDS returns has been given below: Deduction/ Collection of Tax at Correct Rates. Timely Deposit of Tax Deducted at Source. Accurate Reporting of data related to tax deductions/ collections made. Submission of TDS Statements within the due dates. Verification and Issuance of TDS Certificates within time. CPC (TDS) is now sending…
As many as 2.5 crore salaried tax payers will now receive SMS alerts from the Income Tax department regarding their quarterly TDS deductions. Finance Minister Arun Jaitley today launched the SMS alert service for Tax Deducted at Source (TDS) for salaried class and the CBDT will soon offer this facility on a monthly basis. Briefing…
Date of communication: 01/10/2016 Dear Deductor (TAN XXXXXXXXXX), As per the records of Centralized Processing Cell (TDS), TDS Statements have been filed by you for Quarter 1 of Financial Year 2016-17; however, TDS Certificates in Form 16A have not yet been downloaded in respect of this quarter, from the web-portal TRACES. Immediate Attention: With reference…