Income Tax : Explore the intricacies of Tax Deducted at Source (TDS) under Section 194A for interest payments other than securities. Learn abou...
Income Tax : Article discusses about Basic provisions relating to due date of payment of TDS to the credit of Government, Interest for failure ...
Income Tax : For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of gene...
Corporate Law : Introduction: Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) is a kind of advance tax that needs to be deposited wi...
Income Tax : What Is TDS/TCS? Generally the person who earns the income pays tax on such income either in the form of advance tax or in the for...
Income Tax : Addressing glitches in ITD portal, the Association of Tax Lawyers requests an extension for the ITR filing deadline due to signifi...
Income Tax : The Income Tax Department takes several punitive and deterrent steps to unearth unaccounted money and curb tax evasion. These incl...
Income Tax : The income-tax department on Thursday carried out surveys on major Hospitals in Mumbai to verify whether they were complying with ...
Income Tax : On July 24, 2010, the Finance Minister released Citizen's Charter — a declaration of Income-Tax Department's commitment to taxpa...
Income Tax : Centralized Processing Centre (CPC) at Bangalore is performing successfully. Till date, 26.99 alkh returns hgave been processed an...
Income Tax : Madras High Court dismisses Absolute Homes' writ petition against TDS prosecution notice, citing delayed remittance of tax and pre...
Income Tax : TDS on the charges you pay to a Barber? The word ‘carrying out any work’ in section 194C is limited to any work which on being...
Income Tax : CIT Vs Dewan Chand (Delhi High Court)- Payments made by the assessee to the employees employed by it on daily wage basis cannot be...
Income Tax : For the foregoing reasons, the petition succeeds. The three orders namely; (1) the order dated October 6, 1992 passed by the Comm...
Income Tax : Applicants can now apply for lower/nil deduction certificate from 28th February of the immediately preceding Financial Year. For i...
Income Tax : INSTRUCTION NO. 9/2010 Reference may be made to Board’s Instruction No. 7, dated 16-8-2010 in which it has been stated, inter al...
Income Tax : Notification No.31/2009 - Income Tax , Amendment in rules related to payment of TDS, Mode of Payment and time period for furnishin...
Income Tax : Notification No. 28/2009 - Income Tax 2. In the Income-tax Rules, 1962,- (A) after rule 37B, the following rule shall be inser...
Income Tax : CIRCULAR NO. 7/2007-Income Tax The Board had issued Circular No. 790 dated 20th April, 2000, laying down the procedure for refund ...
For the foregoing reasons, the petition succeeds. The three orders namely; (1) the order dated October 6, 1992 passed by the Commissioner of Income Tax, Baroda, declining to accept the claim of the petitioner for interest on refund on the ground that it is not admissible under Sections 243(1)(b), 244(1A) and 214(2) of the Act,
Fixed deposit holders will not be allowed to avail any credit against taxes paid on their interest earnings if banks do not quote their PAN numbers. Many fixed deposit holders could be left in lurch as income tax department has tightened rules on TDS or tax deducted at source. Banks are supposed to cut tax at source for interest income above Rs 10,000. But in 2005-06 less than half of non-salaried income had PAN numbers and in future these will not be eligible for refunds.
