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...
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.
The Online Correction functionality is now enabled for TDS Statements prior to FY 2012-13 also (Financial Year 2007-08 onwards), provided at least one correction for the relevant statement has been processed by CPC (TDS). Download Tutorial on above from the following link :- http://contents.tdscpc.gov.in/docs/e-Tutorial%20-%20Online%20Correction-%20Challlan%20Correction.pdf
CPC(TDS) released a survey ‘Deductor’s Survey Questionnaire: Your Feedback Matters’ with an objective to understand deductors satisfaction since the time CPC(TDS) and TRACES website came into existence. CPC(TDS) has undertaken transformational initiatives to improve overall service levels for deductors and tax payers by following:-
This is to inform you that your office (Accounts Office Identification Number (AIN)) have filed Form 24G for all 12 months in Financial Year 2013-14, however, you have not filed Form no. 24G for any of the months during Financial Year 2014-15. 1. Please note that In case of delay in filing of Form No. 24G by the AINs:
CPC-TDS Communication to Banks Regarding Non reporting of 15G/H transaction in contravention of rule 31A (4) of Income Tax Rules read with section 200 of Income Tax Act. 1) In this regard, it is to inform you that ________ branches out of ________ active branches of your bank have not reported transaction of payment of interest on which tax was not deducted in view of declaration of 15G or 15H form by the payee. We are also sending a separate communication to the non-compliant branches, attached in the list.
Centralised Processing Center (CPC) of the Income Tax Department at Bengluru, Karnatka has added one more feather to its cap by becoming ISO 27001 compliant. The ISO-27001 certificate was awarded to CPC by British Standards Institution (BSI).
In case there are ‘Short Payment Defaults’ in your TDS Statements due to ‘Mismatch of Challans’ you can get the default closed using Online Correction feature, which is available for TDS Statements related to Financial Year 2007-08 onwards.
Here the CPC(TDS) is reminding those who have not deposited any Tax at Source during the FY 2014-15 to do so if they are liable to deduct TDS but have not deducted TDS due to mistake or otherwise.
C.P. Chugh Dear All True but of no use. What we got is a big BABA JI KA TULLU (in the words of Kapil Sharma, standup comedian) CBDT circulars/notifications are often over riding the basic of law. Law makers have thoughtfully provided sufficient time to furnish return, obtain and furnish TAR and keeping in mind […]
As you may be aware that the depositors submit form 15G/H to the bank for no deduction of tax to be made on the interest payments made to them. However , it has been observed in your case that you have not raised Flag ‘B'(No deduction on account of 15G/H) even against a single transaction […]
