A  recent circular issued by the Central Board of Direct Taxes (CBDT), Circular No. 2/[ F. No. 385/25/2010-IT(B)] (new Circular) dated 27 April 2011, outlined…
View More CBDT issues new Circular on Refund Procedure for excess TDS on payments to residentsTag: TDS
Consequences Of Default
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…
View More Consequences Of DefaultCBDT permits issue of TDS certificate for non-salary (Form 16A) income with digital signature
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)…
View More CBDT permits issue of TDS certificate for non-salary (Form 16A) income with digital signaturePreparation of correction TDS/TCS statement
As directed by DIT (Systems), deductor/ collector are advised to prepare correction TDS/TCS statements using consolidated TDS/TCS file only, provided by TIN. Consolidated TDS/TCS file…
View More Preparation of correction TDS/TCS statementTDS by Individual and HUF (Non Audit) case not deductible
An Individual or a Hindu Undivided Family whose total sales, gross receipts or turnover from business or profession carried on by him does not exceeds…
View More TDS by Individual and HUF (Non Audit) case not deductibleNo TDS on Goods Transport
No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account…
View More No TDS on Goods TransportStatus of Quarterly TDS/TCS Statement now available by SMS
NSDL is pleased to announce that henceforth, NSDL will send SMS for each quarterly TDS/TCS statement processed at TIN. You just need to quote correct…
View More Status of Quarterly TDS/TCS Statement now available by SMSFVU version 3.1 upgraded to FVU ver. 3.2 in quick succession.
 FVU version 3.1 released by NSDL on March 18, 2011, has been upgraded to FVU ver. 3.2. The last date of submitting e-TDS certificate for…
View More FVU version 3.1 upgraded to FVU ver. 3.2 in quick succession.Tds On Cold Storage under Section 194C or 194I ?
Argument: Representations have been received from various quarters regarding applicability of the provisions of Section 194-I to cooling charges paid by the various customers to…
View More Tds On Cold Storage under Section 194C or 194I ?Amendments in section 194C through Finance Act (2), 2009
As per amendment through Finance Act(2) ,2009,new Section 194C has been substituted for old section 194C .New Section is applicable from the 01.10.2009.The main changes…
View More Amendments in section 194C through Finance Act (2), 2009