TDS

Procedural Aspects for Lower or NIL TDS rate on Sale of Property by Non-resident Indian (NRI)

Income Tax - The benefits of obtaining a lower rate TDS certificate are enormous. It saves interest on monies that would otherwise get blocked, and also the mammoth hassle of obtaining refund at a later stage. However, there are very people who are availing this facility successfully. There is a plethora of theory on internet on this subject; however,...

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File Your TDS Statement in time

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Progressive organizations file their TDS Statement in time… Are you the one? FILE e-file TDS statement for the financial year/ quarter ended on 31st March,2017 by 31st May, 2017 Delay in filing of TDS statement shall entail levy of fee o...

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Countrywise Withholding tax rates / Chart as per DTAA

Income Tax - Country wise Withholding tax rate on Dividend (not being covered under Section 115-O), Interest, Royalty and Fee for Technical Services as updated with amendment carried out by Finance Act, 2017...

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Income Tax Compliance / Information at A Glance

Income Tax - I have covered only relevant compliances/information useful for Small Manufacturer, Traders only through this article which includes TDS Rate, TDS Return, TDS Certificate and TDS payment due dates, Advance Tax due dates, Income Tax Return Due Dates, Penalty for Late Return Filing, Important Income Tax Deductions, Presumptive Taxation Sch...

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TDS defaults when amount is Payable to a Resident

Income Tax - In my earlier article I have made a discussion about the disallowance when the amount is payable to a non-resident /foreign company but TDS is not deducted by the payer . Section 40(a)(ia) deals with the situation when the amount is payable to a resident . Hereon also we will discuss the complete scenario in parts to have a better underst...

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Prescribe procedure & criteria for TDS returns verification: CAG

Income Tax - Criteria for verification of TDS returns-CAG recommend that the CBDT may prescribe the procedure and criteria for selection of TDS returns for verification....

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CAG detect mistakes in matching of TDS with offered income

Income Tax - CAG in its Report No. 2 of 2017 (Direct Taxes) pointed out mistake in business rules relating to matching of TDS with offered income. Full potential of CPC such as AST-CPC interface for accessing demand/refund information, information available with AO not used in processing returns, non-linking of previous years’ ITRs resulting in exc...

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Income Tax Section codes for 26A/27BA

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in SECTION CODES OF NON DEDUCTION For Non-Deduction File-F.Y 2016-17 Onwards Section under which tax was deductible Form Type 192 24Q & 26Q 193 24Q & 26Q 194 24Q & 26Q 194BB 24Q & 26Q 194EE 24Q & 26Q 194LA 24Q & […]...

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Watch movie on TDS awareness in 9 Languages

Income Tax - TDS- JAGRUKTA a movie by DTRTI, Kolkata in English, Hindi, Bengali, Marathi, Gujarati, Punjabi, Telgu, Tamil & Kannad has been released by Shri Gopal Mukherjee, Member ( Rev & TPS), CBDT....

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NEW TDS RPU and FUV utility as applicable from 23.02.2017

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in New versions of e-TDS/TCS Return Preparation Utility (RPU) and File Validation Utilities (FVUs) are applicable from February 23, 2017 onwards and available at https://www.tin-nsdl.com/etds-etcs/eTDS-download-regular.php 1. RPU Version 1.9 (Jav...

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Demand for short TDS deduction due to wrong quoting of PAN not sustainable if mistake of quoting wrong PAN rectified in revised TDS return

State Bank of Patiala Vs DCIT (ITAT Indore) - Since the mistake of quoting wrong PAN has been rectified in the revised TDS return filed by the assessee which has been accepted by the department, therefore, there is no justification in raising a demand on account of short deduction of TDS....

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TDS not payable for mere mismatch in data due to Technical Flaws

DCIT Vs Bhilai Steel Plant (ITAT Raipur) - Appellant has been held liable as assessee in default merely due to technical flaws. Demand has been raised merely due to fault of system and in view of the CBDT's Instruction No.5/2013 dated 08.07.2013, the demand cannot be sustained. ...

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TDS U/s. 194C not deductible on wages paid to labourers working under direct supervision of assessee

Tapas Paul Vs ACIT (ITAT Kolkata) - Now the issue before us arises so as to whether the labourers are the employees of assessee or they are working in contractual capacity attracting the provisions of TDS. ...

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TDS on Vehicle Hire is applicable party-wise and not trip-wise

Sri Sundar Shaw Vs ACIT (ITAT Kolkata) - CIT (Appeals) was not correct in law that the assessee will be liable to deduct the TDS if the amount of a single contract exceeds Rs. 20,000/-. The contract has to be looked into party-wise not on the basis of the individual GR. In our opinion, all the payments made to a truck owner throughout the ...

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TDS not deductible on Wages Paid to labour sardars to pay the labourers

Assistant Commissioner of Income Tax Vs Dilip Saha (ITAT Kolkata) - The labour sardars are employed/deployed by the labour union to collect the money in bulk and distribute the same amongst the labourers, who are ultimate beneficiaries and not the labour sardars i.e in question. These labour sardars are remunerated by the union only for the job done. The collected m...

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How to Furnish / Verify Form 27BA to remove TDS payment defaults

Notification No. 12/2016-Income Tax- CPC TDS - (08/12/2016) - Procedure for the purposes of furnishing and verification of Form 27BA for removing of default of Short Collection and/or Non Collection of Tax at Source ...

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Procedure for furnishing and verification of Form 26A

DGIT Notification No. 11/2016-Income Tax - (02/12/2016) - CBDT notidfies Procedure for the purposes of furnishing and verification of Form 26A for removing of default of Short Deduction and/or Non Deduction of Tax at Source- Reg....

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TDS on lump sum lease premium paid for long term lease

Circular No. 35 of 2016-Income Tax - (13/10/2016) - The issue of whether or not TDS under section 194-I of the Act is applicable on 'lump sum lease premium' or 'one-time upfront lease charges" paid by an assessee for acquiring long-term leasehold rights for land or any other property has been examined by CBDT in view of representations received in th...

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No TDS on Payment to Tirupati Balaji Mandir U/s. 193 & 194A

Notification No. 81/2016-Income Tax - (09/09/2016) - Central Government hereby notifies that no deduction of tax shall be made from payments of the nature specified in section 193 or section 194A or section 194-I of the said Act to the Tirumala Tirupati Devasthanams, Tirupati, Andhra Pradesh....

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TDS on interest paid by IFSC Banking Units : CBDT Clarifies

Circular No 26/2016-Income Tax - (04/07/2016) - It is observed that IBUs are branches of Indian Banks or Foreign Banks having presence in India, which are established in accordance with the RBI Scheme dated 1.4.2015, in the International Finance Service Centers that are set up in within the Special Economic Zones, as per Section 18 of the Special...

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Recent Posts in "TDS"

Procedural Aspects for Lower or NIL TDS rate on Sale of Property by Non-resident Indian (NRI)

The benefits of obtaining a lower rate TDS certificate are enormous. It saves interest on monies that would otherwise get blocked, and also the mammoth hassle of obtaining refund at a later stage. However, there are very people who are availing this facility successfully. There is a plethora of theory on internet on this subject; however,...

Read More
Posted Under: Income Tax |

File Your TDS Statement in time

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Progressive organizations file their TDS Statement in time… Are you the one? FILE e-file TDS statement for the financial year/ quarter ended on 31st March,2017 by 31st May, 2017 Delay in filing of TDS statement shall entail levy of fee o...

Read More
Posted Under: Income Tax |

Demand for short TDS deduction due to wrong quoting of PAN not sustainable if mistake of quoting wrong PAN rectified in revised TDS return

State Bank of Patiala Vs DCIT (ITAT Indore)

Since the mistake of quoting wrong PAN has been rectified in the revised TDS return filed by the assessee which has been accepted by the department, therefore, there is no justification in raising a demand on account of short deduction of TDS....

Read More

TDS not payable for mere mismatch in data due to Technical Flaws

DCIT Vs Bhilai Steel Plant (ITAT Raipur)

Appellant has been held liable as assessee in default merely due to technical flaws. Demand has been raised merely due to fault of system and in view of the CBDT's Instruction No.5/2013 dated 08.07.2013, the demand cannot be sustained. ...

Read More

TDS U/s. 194C not deductible on wages paid to labourers working under direct supervision of assessee

Tapas Paul Vs ACIT (ITAT Kolkata)

Now the issue before us arises so as to whether the labourers are the employees of assessee or they are working in contractual capacity attracting the provisions of TDS. ...

Read More

TDS on Vehicle Hire is applicable party-wise and not trip-wise

Sri Sundar Shaw Vs ACIT (ITAT Kolkata)

CIT (Appeals) was not correct in law that the assessee will be liable to deduct the TDS if the amount of a single contract exceeds Rs. 20,000/-. The contract has to be looked into party-wise not on the basis of the individual GR. In our opinion, all the payments made to a truck owner throughout the year are to be aggregated to ascertain t...

Read More
Posted Under: Income Tax |

TDS not deductible on Wages Paid to labour sardars to pay the labourers

Assistant Commissioner of Income Tax Vs Dilip Saha (ITAT Kolkata)

The labour sardars are employed/deployed by the labour union to collect the money in bulk and distribute the same amongst the labourers, who are ultimate beneficiaries and not the labour sardars i.e in question. These labour sardars are remunerated by the union only for the job done. The collected money distributed amongst the labours/ la...

Read More

Countrywise Withholding tax rates / Chart as per DTAA

Country wise Withholding tax rate on Dividend (not being covered under Section 115-O), Interest, Royalty and Fee for Technical Services as updated with amendment carried out by Finance Act, 2017...

Read More
Posted Under: Income Tax |

Hon’ble Supreme Court puts an end to Section 40a(ia) Controversy

M/s Palam Gas Service Vs CIT (Supreme Court of India)

One of the classic controversies, lasting for more than a decade, is disallowance for non-deduction/payment of TDS on domestic payments u/s 40a(ia)....

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Section 40(a)(ia) paid vs payable controversy settled by SC

M/s Palam Gas Service Vs Commissioner of Income Tax (Supreme Court of India)

Section 40(a)(ia) covers not only those cases where the amount is payable but also when it is paid. In this behalf, one has to keep in mind the purpose with which Section 40 was enacted and that has already been noted above. ...

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