"04 February 2012" Archive - Page 2

TDS credit to be allowed if difference with AS-26 do not exceed Rs. One lakh

Instruction No. 01/2012 (02/02/2012)

Instruction No. 01/2012 The issue of processing of returns for the Asst. Year 2011-12 and giving credit for TDS has been considered by the Board. In order to clear backlog of returns, the following decisions have been taken: (i) In all returns (ITR-1 to ITR-6), where the difference between the TDS claim and matching TDS amount reported i...

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Things you should know about the ETDS-ETCS

What is quarterly e-TDS/TCS statement? Who is required to file e-TDS/TCS return? Are the forms used for e-TDS/TCS return same as for physical returns? What are the forms to be used for filing annual/quarterly TDS/TCS returns? Is it mandatory to mention Tax Deduction Account Number (TAN) in e-TDS/TCS return? Can I file Form No. 26Q separat...

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Posted Under: Income Tax | ,

If business was set up during the year Assessee entitled to benefit of carry forward of business loss and depreciation

ITO Vs. Berger Imp ex India (ITAT Delhi)

ITO Vs. Berger Imp ex India (ITAT Delhi)- CIT (A) after considering all these submissions has observed that the assessee had started efforts and other activities for its trade though there is no purchase and sale during the initial period. The assessee had given employment to seven persons for marketing activities and has set up infrastru...

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FM asked to retain tax rates at existing levels and to increase exemption limits

Worried over the impact of global financial turmoil on the economy, India Inc today asked the finance ministry to retain tax rates at existing levels, but increase exemption limits to promote growth. In their customary pre-Budget meeting with finance minister Pranab Mukherjee, industry leaders also demanded that healthcare services should...

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Posted Under: Income Tax |