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Income Tax - Draconian Misinterpretation of Sec. 12A(1)(ba) of the Income Tax Act, 1961 by CPC (Income Tax Centralized Processing Center) shall lead to Huge Tax Demands The Finance Act, 2017 has inserted a new provision sec. 12A(1)(ba) w.e.f. 01/04/2018 (applicable from A.Y. 2018-19 and onwards as follows: “Conditions for applicability of sections ...
Read MoreIncome Tax - Comprehensive list of problems and their solutions relating to short TDS payment & short TDS deduction defaults issued in the intimation U/s 200A...
Read MoreIncome Tax - Centralized Processing Cell (TDS) has observed from its records that Flag B is not being raised for 15G/ H Forms in quarterly TDS Statements filed. ...
Read MoreIncome Tax - 1) Intimation issued under section 143(1) of the Income-tax Act, 1961 (`the Act') displays mismatch of income without detailed analysis or reconciliation, of income tax returns filed by assesses. 2) Challenges and potential consequences in relation to returns processed by CPC...
Read MoreIncome Tax - Your User ID and Password are the most sensitive information, misuse of which can lead to tampering of confidential TDS related information, your own sensitive data and Deductee related confidential information....
Read MoreIncome Tax - A unique PINCODE 560500 has been allotted to Centralized Processing Centre (CPC), Income Tax Department located in Bengaluru by the Department of Post. Taxpayers can henceforth address their mails to “Centralized Processing Center, Income Tax Department, Bengaluru 560500” for the purpose of submission of ITR-V forms and other document...
Read MoreIncome Tax - Recently, members are raising concerns regarding the problem faced by them in resolving the grievances in respect of Communication/ Order/ Notices received by the assessees from Centralised Processing Centre (CPC) Bengaluru....
Read MoreIncome Tax - To assist taxpayers CPC has established Customer care helpline, a limited call center service at ITD-CPC, Bangalore for queries related to ITR-V Receipt Status, Refund /Refund re-issue, Rectification, Income tax /PAN/TAN, e-Filing of returns, e-Filing Login, Form 26AS and Form 16. ...
Read MoreIncome Tax - This is to inform that a few emails received by the Deductors and Taxpayers have been brought to the attention of the Centralized Processing Cell (TDS), which claim to have been originated from CPC (TDS) and may have been triggered by the sender of those emails with a mala fide intent. To avoid any inconvenience […]...
Read MoreIncome Tax - The facility to provide response against outstanding tax demand is made available to the assessee in the e-Filing portal. After Login on https://incometaxindiaefiling.gov.in , select e-File then select Response to Outstanding Tax Demand and the most appropriate options may be selected to provide response. Three type of responses can be su...
Read MoreCourt on Its Own Motion Vs Commissioner of Income-tax (Delhi High Court) - The assessees must be given an opportunity to file response or reply and the reply will be considered and examined by the Assessing Officer before any direction for adjustment is made. The process of issue of prior intimation and service thereof on the assessee will be as per the law. The assessees ...
Read MoreF.No. DIT(S)-2/Form 26QB/100/2015 - (22/03/2016) - Section 194IA of the IT Act relates to TDS on Sale of property. Form 26QB is an online statement-cum-challan to be filled and submitted by the buyer of the property for making TDS payment on sale of property. It contains details of buyer, seller, property being sold, sale consideration, tax deposit ...
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F.No. DIT(S)-2/Form 26QB/100/2015 - (22/03/2016) -
