Seconded personal continue to be the employees on the roll of the member oil companies even during the period of secondment. These seconded employees continue to receive their salaries and emoluments from the member oil company of which they are employees. Therefore, not being employees of the respondent-assessee, the overseas allowances cannot be subject to deduction of tax at source.

New utility for generation of Form 16A in pdf format provided by https://www.tdscpc.gov.in is very light and is sized only 8.43 MB while earlier utility was sized 58.04 MB.

The credit given for TDS in an order passed under Section 155(14) read with Section 154 cannot be construed as a relief given in the original assessment order. Section 155 of the Act provides for various situations under which an order can be amended because of developments taking place subsequent to the date on which the order was originally passed.

Download TRACES PDF Generation Utility Deductor can download TDS Certificate (Form 16 (Part A) and Form 16A) from TRACES. The file will be provided in text format and will contain certificate details for all requested PANs. Text file is password protected and password will be ‘<TAN>’. Deductor will have to convert the text file into [...]

TDS Rates for financial year (FY) 2012-13 and assessment year (AY) 2013-14. Threshold for TDS on payment of interest on debentures. Section 194J of the Act – Tax deduction at source from payment to director. Section 194LA of the Act- Exemption on enhanced compensation. Section 194LAA- Tax deduction at source from payment for immovable property in certain cases. Budget 2012 – TCS on sale of Coal, Lignite, Iron ore. Budget 2012 – TCS on cash sale of bullion and jewellery.

Everyone is aware that Form 15G and form 15H are used for avoiding the TDS deduction while computing the interest earned during the financial year. In this article we are discussing important points to remember while submitting the Form 15G and Form 15H to the deductor. We have also included frequently asked questions and answers on Form 15G and Form 15H. Reader can download the latest Form 15G and Form 15H in Excel, Word and PDF format from the links given at the bottom of the article.

The Tribunal, upon detailed examination of the nature of relationship between the assessee and the transporter, came to the conclusion that this is not a case of sub-contract. The Tribunal noted that none of the responsibilities of the contractor vis-a-vis the execution of the work were fastened on the transporters.

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 [...]

Circular No. 777 dated 17th March 1999 issued by the CBDT makes it clear that such certificate cannot have retrospective effect. The reason put forth by the assessee that he had a bona fide belief, as for earlier financial years the Assessing Officer of the contractor allowed the assessee to credit or pay without deduction [...]

Vide clause 8 Notification No. 3/2013, dated 15-1-2013 CBDT has specified that Assessee can file an appeal against the actions of the CPC. The appeal can be filed with the Commissioner of Income-tax (Appeals) having jurisdiction over the Assessing Officer who has jurisdiction over the deductor.