Background The Income-tax Act, 1961 (the Act) provides exemption from tax in respect of allowances granted by an employer to its employees in order to…
View More Tax deduction at source is not applicable to reasonable per diem allowances paid to employees for overseas tripsTag: Tax Deduction at Source
TDS on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisements
Central Board of Direct Taxes (CBDT) has issued a circular regarding Tax Deduction at Source (TDS) on payments by television channels and publishing houses to…
View More TDS on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisementsTDS on payments by broadcasters or television channels to production houses for production of content or programme for telecasting
Central Board of Direct Taxes (CBDT) has issued a circular regarding Tax Deduction at Source (TDS) on payments by broadcasters or television channels to production…
View More TDS on payments by broadcasters or television channels to production houses for production of content or programme for telecastingSalaries of nuns and priests working as teachers are not exempted from TDS
The Madras High Court today ordered status quo on an Income Tax circular stating that salaries of nuns and priests working as teachers are not…
View More Salaries of nuns and priests working as teachers are not exempted from TDSPutting TDS provisions for recurring deposits to work
TDS on recurring deposits makes investors either submit the exemption forms if there is no taxable income. In case of TDS on RD, they may…
View More Putting TDS provisions for recurring deposits to workTax is not to be deducted at a higher rate of 20 percent under Section206AA of the Income-tax Act when the benefit of tax treaty is available
Recently, the Bangalore Bench of the Income-tax Appellate Tribunal (the Tribunal) held that there is no scope for the tax deduction at source (TDS) at…
View More Tax is not to be deducted at a higher rate of 20 percent under Section206AA of the Income-tax Act when the benefit of tax treaty is availableTax deducted at source and actual tax liability may differ
Though there is a provision to deduct tax at the source of income, one must assess this tax position. Despite TDS, one may have to…
View More Tax deducted at source and actual tax liability may differPAN and TAN application fees revised by NSDL
W. e. f. June 1, 2015, PAN & TAN application fees have been revised as under: 1. For dispatch of PAN card in India: Rs.…
View More PAN and TAN application fees revised by NSDLInterest calculation for delayed payment of TDS
The interest is to be calculated as per illustrations below: Case 1: Tax Deducted on 26th June, TDS deposited on 9th July (due date was…
View More Interest calculation for delayed payment of TDSFVU 4.6 and FVU 2.142 released by NSDL
The Income Tax Department has released the following new File Validation Utilities: FVU version 4.6-For statement pertaining to FY 2010-11 onwards. FVU version 2.142-For statements…
View More FVU 4.6 and FVU 2.142 released by NSDL