Income Tax department has provided the facility to the Assessee / tax Payer to check status of Income Tax Return Filed online on its e-filing portal. In addition to this Assessee can also check status of Income Tax Refund of return filed by the Assessee (Manual and Online) and Assessee can also track online the status of Income Tax Refund dispatched by department through speed post.
A facility to register TAN online is available on the TIN website (www.tin-nsdl. com). The Income Tax Department requires all deductors to register their TANs online. Authenticated access (through user ID and password) will be provided to registered deductors. Registration is free. An acknowledgment number will be displayed on successful registration. This acknowledgment number is to be kept securely. In future user id / password will be provided to the deductors who have successfully registered.
Technically speaking there is no concept such as International taxation. But for our convenience we say, the international aspects of income tax laws of a particular nation as international taxation.
We are always worried about the fact that whether our TDS deductor/collector has filed quarterly TDS/TCS statement and provided our PAN while filing the TDS/TCS return. NSDL has recently launched a facility to enable deductee to know whether or not his TDS deductor/collector has filed quarterly TDS/TCS statement and provided his PAN while filing the TDS/TCS return.
-e-TDS implies, filing of the TDS return in electronic media as per prescribed data structure in either a floppy or a CD ROM. The aforesaid requirement is essentially a part of the process of automation of collection, compilation and processing of TDS returns. Preparation of returns in electronic forms or e-TDS will eventually be beneficial to the deductor, by cutting down the return preparation time, reducing the volume of documentation and thereby economizing the compliance cost. At the same time, it will also facilitate the Government in better co-relation of taxes deducted with the taxes finally deposited in the banks and credits of TDS claimed by the deductees.
I don’t understand the process of e-filing. What should I do? 2. What information do I need, to register myself in the ITD e-filing website? 3. Should Registration be made in the name of the Company or can a director register in his name and file the returns of the company from his user id? 4. Can a Chartered Accountant (CA) can file return on behalf of the Company? 5. What is XML? 6. What is a Schema? 7. Why do I get an error message at the time of submission/uploading of return ?
CPC(TDS) provides us with the new feature of downloading Form 27D, the Tax Collection Certificate for Deductees forming part of TCS Statements, filed in the form of 27EQ. Please refer to the following relevant details for the above functionality Form 27D is Tax Collection Certificate in respect of deductees, reported in Form 27EQ Statements. Please […]
In pursuance of the objective of preventing increased number of defaults by various enterprises amidst financial distress faced by the companies due to the Corona pandemic, the Government of India on 22nd April 2020 proposed to introduce Section 10 A under the Insolvency and Bankruptcy Code, with the objective of suspending Section 7, Section 9 and Section 10 of the Code, 2016 dealing with initiation of Corporate Insolvency Resolution Process (CIRP).
Small and medium enterprises (SME) sector, rightly known as India’s ‘engine of growth’, has scaled significantly over the years on the back of increasing awareness, digital advancements and better opportunities that have encouraged many entrepreneurs. to offer innovations and emerge as success stories.
1. What is the test that determines land is agricultural land? The Gujrat HC in CIT v Siddhartha J. Desai 139 ITR 628 (Guj)(1983) has laid down the following tests for determining whether the land is agricultural or not: a) Whether, the land was classified in the revenue records as agricultural and whether it was subjected […]
