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…
Government Once again urges all Tax Payers to Disclose their true income and pay Appropriate Taxes within the Current Financial Year. Nodal Cell set up to Capture the Response and take Follow-up Action; an Online Monitoring System to Ensure Follow-up Action and Track Return Filing and Tax Payment of the Target Segment. The Union…
Issue – Whether the penalty was imposed U/s 271(1)(c ) because of the reason that the deduction claimed under section 80-IB by the respondent-assessee was ultimately allowed at a lower level were valid? Held – that the mere making of a claim which is ultimately held not to be sustainable in law, would not amount…
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:
Here are the steps to download NSDL consolidated file from TRACES website: Login to TRACES: Login to TRACES as a deductor by entering User Id and Password and click on “Go”. Landing page of TRACES website will be displayed. Request for NSDL Conso File: Under “Statements/Payments”, click on “Request for NSDL Conso File to place…
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…
Commission paid to the credit card companies cannot be considered as falling within the purview of S.194H. Even though the definition of the term commission or brokerage used in the said section is an inclusive definition, it is clear that the liability to make TDS under the said section arises only when a person acts…
NSDL on behalf of the Income Tax Department has announced the shifting of the entire TDS data from their website to TRACES website (www.tdscpc.gov.in). After the shifting is completed, all the following activities of deductors will be done through TRACES website: Registration/ Re-registration of TAN Consolidated(TDS) file download Download of Form 16/Form 16A Download of…