A special voluntary disclosure scheme for bringing back black money stashed away in tax havens abroad may be in the offing. The Central Board of Direct Taxes (CBDT) is understood to be ‘seriously considering’ recommending to the government a scheme on the lines of the Voluntary Disclosure of Income Scheme (VDIS) announced in 1996 to tap funds lying abroad for productive use in India.
How can I update a challan? You can update any of the details provided in the challan viz; CIN details, amounts etc. Points to be kept in mind while updating challan: identify the challan to be updated by its sequence no as per regular statement , CIN, deposit amount as per regular statement. Update the challan detail as required. Along with the updated values, the correction statement should contain value of the CIN and deposit amount as per regular statement as well.
Provided further that service of an order on a foreign party resident outside India shall be deemed to be sufficiently served if a copy thereof is delivered or tendered or sent by post at the last known address of such party’s authorised representative(s) resident in India, where he appears by such representative(s)
How will the PAN-wise ledger account be created by NSDL in respect of payment of TDS made by deductors in banks? The PAN-wise ledger account will be created after matching the information in the TDS/TCS statements filed by the deductor/collector and the details of tax deposited in banks coming through On Line Tax Account System (OLTAS).
Deductor/collector is required to furnish one regular TDS/TCS statement for a particular TAN, Form, Financial year and quarter. In case there are any additions/updations to be made to the details of the regular statement accepted at the TIN central system, the same should be done by furnishing a correction statement. The payment information provided in the regular TDS/TCS statement, is verified with the corresponding details provided by the bank where tax was deposited. On successful verification credit of tax deducted/collected by you is reflected in the annual tax statement (Form 26AS) of the deductees/transacting parties where PAN of deductee / transacting party is present.
