We are always worried about the fact that whether our TDS deductor / collector has filed quarterly TDS/TCS statement and provided our PAN while filing the TDS/TCS return. NSDL has recently launched a facility to enable deductee to know whether or not his TDS deductor/collector has filed quarterly TDS/TCS statement and provided his PAN while…
Income Tax Department has changed the date of TDS filing for Govt. Deductors vide notification 57/2011 dated 24.10.2011. The due date of filing eTDS returns has been extended by 15 days for first three quarters of the Financial year but remains the same for last quarter ending 31st March. The amendment is applicable from 01.11.2011 &…
Form 16A can now be viewed for the purpose of verification. Form 16A is the certificate generated by the TIN website issued by Deductor to the Deductee. Some of the mandatory fields to be provided for the view are TAN of the deductor PAN of the deductee Certificate Number Total Amount Deducted Click here to…
Failure to deduct or remit TDS/TCS (fully or partially) Interest: Interest at the rates in force (12% p.a.) from the date on which tax was deductible /collectible to the date of payment to Government Account is chargeable. The Finance Act 2010 amended interest rate wef 01.07.2010 and created a separate class of default in respect…
CBDT has recently vide Circular No. 3/2011 [F.No. 275/34/2011-IT(B)] (Circular) dated 13 May 2011 permitted issue of certificate for tax deducted at source (TDS certificate) with digital signature for TDS from income other than salary income (non-salary TDS) in Form 16A. The extant rules provide an option to persons withholding tax (deductors) to issue TDS…