As we all know that when we file TDS return of salary i.e. Form 24Q, we are always have a confusion as to now how to get Form 16 (Part A and Part B) both together? How we can apply for the same? Hence today I am covering this so that enlighten you all with […]
As we all aware that tax payers seeking non-deduction of tax from certain incomes are required to file a self-declaration in Form 15G or Form 15H as per the provisions of Section 197A of the Act. The manner of filing such declarations and the particulars have been laid down in Rule 29C of the Income-tax Rules, 1962 (‘the Rules’). Today I am covering here the process of filing Form 15G or Form 15H online.
1. Guidelines for Part A of Form 15CA: a. Remitter: i. Permanent Account Number (PAN) and Tax Deduction and collection Account Number (TAN) allotted by the Income Tax Department should be mentioned. TAN is mandatory in cases where- General Form 15CA should be used for furnishing information of remittances in e-mode in accordance with the provisions of section 195 (6) of the Income-tax Act, 1961. The information should be furnished after obtaining a certificate in Form 15CB from an accountant as defined in the Explanation to section 288 of the Income-tax Act, 1961. The print out Form 15CA should be signed and submitted to the Reserve Bank of India/authorized dealer prior to remitting the payment.
As we all aware that any person responsible for paying any sum to a resident transferor by way of consideration for transfer of an immovable property (i.e. building or part of building or any land other than agricultural land) is liable to deduct tax at source under section 194IA. This provision came in June 2013. […]
Question: If there are 10 partners in a firm of Chartered Accountants, then how many tax audits reports can each partner sign in a financial year? Answer: As per amended Chapter VI of Council General Guidelines, 2008 (Tax Audit Assignments under Section 44AB of the Income Tax Act, 1961), a member of the Institute in […]
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.
