Income Tax : Explore the history and key adjustments under Section 143(1)(a) of the Income Tax Act, including recent amendments and CPC's role ...
Income Tax : Discover the limitations of Indias Centralized Processing System (CPC) for taxpayers. Explore solutions to enhance communication a...
Income Tax : In my previous article ‘The First Substantive Ground of Appeal against an adjustment u/s 143(1)(a)(iv)‘, the following...
Income Tax : The First Substantive Ground of Appeal against an adjustment made under Section 143(1)(a)(iv) It has been 15 years since the Incom...
Income Tax : RECTIFICATION OF AN ORDER RECEIVED FROM CPC AND ISSUES RELATING TO DISPOSAL OF THE RECTIFICATION PETITION If the assessee finds a ...
Income Tax : KSCAA Representation regarding adjustments (over and above 20% of disputed demand) by CPC despite assessments pending before first...
Income Tax : BCAS has made an excellent Representation to CPC on Difficulties faced by the taxpayers alongwith their suggestions to remove the ...
Income Tax : A unique PINCODE 560500 has been allotted to Centralized Processing Centre (CPC), Income Tax Department located in Bengaluru by th...
Income Tax : Recently, members are raising concerns regarding the problem faced by them in resolving the grievances in respect of Communication...
Income Tax : This is to inform that a few emails received by the Deductors and Taxpayers have been brought to the attention of the Centralized ...
Income Tax : In an ITAT Kolkata ruling, deduction u/s 80P for AY 2019-20 was allowed due to timely filing within the due date specified by CBDT...
Income Tax : CBDT's instruction No.10/2017 dated 15.11.2017 has clearly laid down that only when receipts are completely omitted to be declared...
Income Tax : The assessees must be given an opportunity to file response or reply and the reply will be considered and examined by the Assessin...
Income Tax : 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 subm...
Charitable Trusts having multiple educational institutions are facing many issues especially of exemptions u/s 10(23C)(iiiad) of the Income Tax Act, 1961, in processing of returns by CPC and in assessments. Following is an analysis of the section and the legal precedents. 1. The law Section 10(23C)(iiiad) reads as under – Incomes not included in total […]
For Deductors’ convenience, CPC (TDS) has established processing logic in the system that can accept a Single Challan per month for reporting of Tax Deposited in following circumstances : Situation 1: Where Payment of Tax Deducted is required under ‘different sections‘ of the Income Tax Act, 1961: The CPC (TDS) system gives credit of TDS […]
Once the e-Filed returns are processed and outstanding tax demand available in e-Filing portal, assessee is facilitated to submit the response against outstanding tax demand raised by CPC/AST. In this article we have discussed how a Taxpayer can submit online response against such Income Tax Demands :-
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.
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 […]
CBDT’s instruction No.10/2017 dated 15.11.2017 has clearly laid down that only when receipts are completely omitted to be declared in the return of income can there be an addition for invoking 143(1)(a)(vi) of the Act.
CPC (TDS) provides with enhanced features, to further add to the convenience of online facility of filing corrections to the TDS Statements. With this feature, you will be able to submit Online Corrections at TRACES without even having a Digital Signature. To avail the facility, it is requested to Login to TRACES and navigate to […]
As you may be aware that at the time of filing TDS statements, it is mandatory to quote the challan particulars through which TDS payments have been made. The TDS forms prescribe quoting of such challans and the underlying deductee transactions corresponding to such challans.
Advisory to deductors making TDS payment through multiple challans in a month As we all are aware that, many times deductors used to pay TDS through multiple challans because of different section under which TDS deducted or the year of two payments are different or there are different deductees. This multiple payment challan is really […]
PC (TDS) Website has made a communication dated 10th Sept’ 2014 in which it has issued advisory for deductors using multiple challans in a month, for payment of Tax Deducted. In this advisory it has discussed the following three key areas- Payment of Tax Deducted under different sections of the Income Tax Act, 1961 Payment of Tax Deducted for different Assessment Years: Different challans used for the purpose of reporting multiple Deductees associated with different branches with same TAN:
