TDS Provisions

TDS on Salaries – Procedure to deduct TDS – Compliances

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in CA C. Maheshwar Reddy TDS on Salaries – Section 192- Procedure to deduct TDS – Compliance with Income Tax Act and rules there under Back Ground: Under Section 192, the employer is required to deduct Tax at Source while making the […...

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TDS Under Income Tax: Tedious Job With No Carrots Only Sticks..!!!

Income Tax - We can blame it on abbreviation , but TDS ( Tax Deducted at Source ) rhymes with TEDIOUS, as if reflecting the plight of Tax Payers and Tax practitioners. This is the most convenient way of collecting Income Tax by creating legal obligation on person making certain payments. ...

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Simple ways to avoid Defaults in TDS Statements

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in We can easily avoid Defaults in TDS statements, by way of adherence to the following basic principles: · Timely Payment of total taxes deducted/ collected · Correct Reporting with regard to PANs, Tax Rate and Challans · Complete Reporting f...

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All about C9 Corrections for Quarterly TDS Statements

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Centralized Processing Cell (TDS) has observed from its records that C9 Corrections for Quarterly TDS Statements have repeatedly been submitted during Financial Year 2013-14. Please note that CPC (TDS) does not encourage frequent submission of...

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Correction/ revision in TDS Return more than once

Income Tax - A correction TDS/TCS statement can be furnished multiple times to incorporate changes in the regular TDS/TCS statement whereas a regular TDS/TCS statement will be accepted at the TIN central system only once....

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TDS Provision U/s. 194C applicable to association of persons and body of individuals

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Sub-section (1) of section 194C of the Income-tax Act provides for deduction of income-tax at source from any sum credited or paid to a resident contractor for carrying out any work (including supply of labour for carrying out any work) in [&h...

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No TDS on commission paid outside India for services received outside India by Non-Residents

DCIT Vs M/s Sess Resources Ltd. (ITAT Panaji) - The commission earned by the non-resident agent who carried on the business of selling Indian goods outside India, cannot be said have deemed to be, income which has accrued and/or arisen in India & therefore no occasion to deduct tax at source in respect of the payment made to the non-resident agen...

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S. 234E: Recovery of fee is subject to outcome of Petition; Govt to reply on S. 234E notices – Rajasthan HC

Om Prakash Dhoot Vs UOI (Rajashthan High Court) - Under Section 234E wef 1st of July 2012 deductor will be liable to pay by way of fee of Rs 200 per day till the failure to file TDS statement continues, However, the total fee cannot exceed the amount of TDS deductible for which statement was required to be filed. ...

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Issue nil TDS certificate to deductor & lower TDS certificate to recipient of income – CBDT Directs

Notification No. 46/2014-Income Tax - (24/09/2014) - Notification No. 46/2014-Income Tax (4) The certificate for no deduction of tax shall be valid only with regard to the person responsible for deducting the tax and named therein. (5) The certificate referred to in sub-rule (4) shall be issued direct to the person responsible for deducting the tax un...

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How to calculate TDS on Salary FY 2013-14 / AY 2014-15

Circular No. 8/2013-Income Tax - (10/10/2013) - Circular No. 8/2013-Income Tax Provisions of TDS on Salary as applicable on Income from Salary for Financial year 2013-14 / Assessment year 2014-15. This includes how to calculate TDS on Salary for Financial year 2013-14 and taxability of various components of Salary, Eligible deduction for Salarie...

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TDS /TCS Changes in Due Date for Payment, Return Filing, Mode of Payment, Time to Furnish Certificate

Notification No. 41/2010-Income Tax - (31/05/2010) - Notification No. 41/2010-Income Tax Time and mode of payment to Government account of tax deducted at source or tax paid under sub-section (1A) of section 192. Mode of payment . Certificate of tax deducted at source to be furnished under section 203.Statement of deduction of tax under sub-section (...

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Recent Posts in "TDS Provisions"

No TDS on commission paid outside India for services received outside India by Non-Residents

DCIT Vs M/s Sess Resources Ltd. (ITAT Panaji)

The commission earned by the non-resident agent who carried on the business of selling Indian goods outside India, cannot be said have deemed to be, income which has accrued and/or arisen in India & therefore no occasion to deduct tax at source in respect of the payment made to the non-resident agent arise & thus there is no liability to ...

Read More

TDS on Salaries – Procedure to deduct TDS – Compliances

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in CA C. Maheshwar Reddy TDS on Salaries – Section 192- Procedure to deduct TDS – Compliance with Income Tax Act and rules there under Back Ground: Under Section 192, the employer is required to deduct Tax at Source while making the […...

Read More
Posted Under: Income Tax | ,

TDS Under Income Tax: Tedious Job With No Carrots Only Sticks..!!!

We can blame it on abbreviation , but TDS ( Tax Deducted at Source ) rhymes with TEDIOUS, as if reflecting the plight of Tax Payers and Tax practitioners. This is the most convenient way of collecting Income Tax by creating legal obligation on person making certain payments. ...

Read More
Posted Under: Income Tax | ,

Issue nil TDS certificate to deductor & lower TDS certificate to recipient of income – CBDT Directs

Notification No. 46/2014-Income Tax (24/09/2014)

Notification No. 46/2014-Income Tax (4) The certificate for no deduction of tax shall be valid only with regard to the person responsible for deducting the tax and named therein. (5) The certificate referred to in sub-rule (4) shall be issued direct to the person responsible for deducting the tax under advice to the person who made an app...

Read More

Simple ways to avoid Defaults in TDS Statements

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in We can easily avoid Defaults in TDS statements, by way of adherence to the following basic principles: · Timely Payment of total taxes deducted/ collected · Correct Reporting with regard to PANs, Tax Rate and Challans · Complete Reporting f...

Read More
Posted Under: Income Tax | ,

All about C9 Corrections for Quarterly TDS Statements

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Centralized Processing Cell (TDS) has observed from its records that C9 Corrections for Quarterly TDS Statements have repeatedly been submitted during Financial Year 2013-14. Please note that CPC (TDS) does not encourage frequent submission of...

Read More
Posted Under: Income Tax | ,

S. 234E: Recovery of fee is subject to outcome of Petition; Govt to reply on S. 234E notices – Rajasthan HC

Om Prakash Dhoot Vs UOI (Rajashthan High Court)

Under Section 234E wef 1st of July 2012 deductor will be liable to pay by way of fee of Rs 200 per day till the failure to file TDS statement continues, However, the total fee cannot exceed the amount of TDS deductible for which statement was required to be filed. ...

Read More

How to calculate TDS on Salary FY 2013-14 / AY 2014-15

Circular No. 8/2013-Income Tax (10/10/2013)

Circular No. 8/2013-Income Tax Provisions of TDS on Salary as applicable on Income from Salary for Financial year 2013-14 / Assessment year 2014-15. This includes how to calculate TDS on Salary for Financial year 2013-14 and taxability of various components of Salary, Eligible deduction for Salaried Employees, TDS Due Date and TDS return...

Read More

Correction/ revision in TDS Return more than once

A correction TDS/TCS statement can be furnished multiple times to incorporate changes in the regular TDS/TCS statement whereas a regular TDS/TCS statement will be accepted at the TIN central system only once....

Read More
Posted Under: Income Tax |

Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit

Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit in the first quarter but in subsequent quarters has exceeded threshold limit (as issued by the Directorate of Income Tax – Systems). Flag “Y” should be selected in the field of ‘Reason for non deduction/ lower deduction...

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Posted Under: Income Tax | ,
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