tcs

Satyam, and now, Wipro Technologies and Megasoft, join the 300 companies that have been blacklisted by the World Bank Since 2000. The list includes four other India-based vendors. GAP International (India), a corporate training firm, and an individual Surendra Singh whose identity could not be verified, have been permanently barred since 2001. The Bank banned [...] Full Article

CESTAT-CHENNAI Future Focus Infotech (P.) Ltd. V CCE (ST) – S/PD/146/08. S/EH/234/ 08 IN S/173/2008 Dated: December 10, 2008 RELEVANT EXTRACTS: 6. We have gone through the contracts entered into between the assessee and its clients. As per the contract with TCS, Focus would provide technical assistance of choice personnel to work on the computer [...] Full Article

The Income Tax Department (ITD) creates Annual Tax Statement of each taxpayer using their Permanent Account Number (PAN) as identifier. The tax statement contains details of tax paid by the taxpayer himself (self assessment/advance tax) and also details of tax deducted/collected from him during the financial year. Full Article

All tax deductors / collectors are required to file the TDS/TCS returns in Form No.24Q (for salaries), Form No.26Q (for payments other than salaries) or Form No.27EQ (for TCS). These forms require details of all tax deductions with name and permanent account number (PAN) of parties from whom tax was deducted. It had earlier been decided that Form No.24Q with less than 90% of PAN data and Form No.26Q & Form No.27EQ with less than 70% of PAN data will not be accepted for t.. Full Article

The Income Tax Department has extended the last date for filing of tax returns for Tax Deducted/Collection at source for the second quarter of this fiscal to February 29. This measure is likely to provide a major relief to the employers, who could not submit their returns due to delay in clarification on employees stock options or other reasons. Full Article

All tax deductors / collectors are required to file the TDS / TCS returns in Form No.24Q (for tax deducted from salaries), Form No.26Q (for tax deducted from payments other than salaries) or Form No.27EQ (for tax collected at source). These forms require details of all tax deductions with name and permanent account number (PAN) of parties from whom tax was deducted. Full Article

Following are the due dates for filing of Quarterly TDS and TCS Returns in Form 24Q, Form 26Q, Form 27Q and Form 27EQ. Please file your returns on time to avoind penalty for late filing of Tds returns. Full Article

CIRCULAR NO. 5 / 2007, DATED 26-7-2007. The Central Board of Direct Taxes, vide notification S.O. No.762(E) dated 14th May, 2007 have notified following new return forms for assessment year 2007-08 under a new series:- (i) ITR-1 return of income for individuals having income from salary/ pension/ family pension and not having any other income except income by way of interest chargeable to income-tax under the head Income from other sources; Full Article