Form 147 mandates quarterly reporting of foreign remittances by authorised dealers, with strict compliance requirements and penalties for delays. The updated form enhances transparency through data linkage, enabling better tax verification and risk profiling.
The case explains mandatory filing of quarterly TDS statements for non-salary payments to non-residents. The rules require timely electronic submission to ensure accurate tax credit and avoid penalties. The key takeaway is strict compliance with deadlines and reporting requirements.
Form 141 consolidates earlier challan-cum-statements into a single form for various TDS transactions. It simplifies reporting and payment while ensuring accurate compliance. The key takeaway is streamlined filing with schedule-based reporting.
Form 132 replaces Forms 16B, 16C, 16D, and 16E to simplify TDS certification under the new law. It ensures standardized reporting and valid proof of tax deduction.
The issue involved non-appointment of an internal auditor despite meeting turnover criteria. The authority held that failure to comply attracts penalty under Section 450.
The issue involved failure to appoint independent directors within the prescribed timeline. The authority held that delay constituted a violation, leading to penalties on the company and its officers.
Form 128 allows taxpayers to apply for reduced or nil tax deduction or collection under the Income-tax Act, 2025. It helps avoid excess tax deduction and improves cash flow management.
Form 122 consolidates reporting of multiple income sources for salaried employees under the Income-tax Act, 2025. It helps employers compute correct TDS and reduces excess tax deductions.
The ROC imposed penalties on directors for not maintaining the mandatory register of members. The key takeaway is that statutory registers must be maintained at all times. Non-compliance attracts fixed penalties.
The authority imposed penalty for failure to file SH-7 after increasing authorised capital. The key takeaway is that statutory filings cannot be skipped even due to technical issues.
