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 : Currently CPC is unable to process over 2 lakhs returns which have been classified as defective under CPC’s business rules. Ass...
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...
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 […]
CPC (TDS) drive for closure of Short Payment Defaults to facilitate downloading of Conso Files/ TDS Certificates The Centralized Processing Centre (TDS) is sending notice based on its records if there are Short Payment Defaults in Quarterly TDS Statements submitted by you and restricts downloading of Consolidated Files and TDS Certificates for TAN in default. […]
For closure of Short Payment Defaults arising due to Unmatched Challans quoted in TDS Statements, CPC(TDS) has further enhanced the Online Correction facility at TRACES, providing with the feature of Move Deductees from Unmatched Challans to any other Unconsumed OLTAS Challan.
CPC (TDS) follow up: Online Correction facility not availed after sending “Intermediate Communication for Short Payments” in course of processing of Original Quarterly TDS Statements As per the records of CPC (TDS), an Intermediate communication was sent to TDS deductors intimating Short Payment errors in the Original TDS Statements filed by deductors during January 1 […]
The Short Payment Defaults are generally due to ‘Insufficient Challans’, which could be due to the following reasons: You have adequate balance available in OLTAS challans, however, some other challans may have been incorrectly used, which are already consumed. You have tried to consume more than the available challan amount for reporting TDS deducted in […]
1. Step 1: CPC (TDS) will first process Original TDS Statements till the stage of 26AS generation for deductees reported. 2 Step 2: Short Payments and PAN Errors will be identified in the preliminary check of the Original statements.
As per the records of Centralized Processing Cell (TDS), there are many deductors who have filed TDS return for different quarters, but not not yet registered on the web portal TRACES Such Un-registered Deductor will not be able to download TDS Certificates (Form 16/ 16A) and avail several other facilities offered by TRACES unless they […]
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 submitted by the options available […]
Approval for Revised Project Cost and Extension of Contract for the Centralized Processing Center of the Income Tax Department at Bengaluru The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for extension of the contract for the Central Processing Centre (CPC) Project of the Income Tax Department at Bengaluru […]
As per the records of the Centralized Processing Cell (TDS), there is an outstanding demand in different years from 2007-08 onwards on account of defaults identified in TDS statements. Table below shows year wise outstanding demand on account TDS defaults as on October 23rd 2014.
