Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Goods and Services Tax : Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and effi...
Income Tax : Explore proposed Budget 2025 changes in TDS/TCS provisions, including revised thresholds and rates. Learn how these amendments aim...
Income Tax : Amendments to Section 206C exclude court stays from time limit calculations for default orders. Effective April 1, 2025....
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-...
Income Tax : KSCAA requests review of incorrect TDS credit processing by CPC Bengaluru for AY 2024-25 and urges system corrections and resoluti...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : CBDT's new circular relaxes TDS/TCS rules for deceased deductees/collectees before PAN-Aadhaar linking, eliminating tax liability ...
Income Tax : The Orissa High Court quashed prosecution against Kashvi International for delayed TDS deposit, citing COVID-19 and financial hard...
Goods and Services Tax : Madras High Court held that order confirming demand due to mismatch between returns under GST set aside with condition to deposit ...
Income Tax : ITAT Ahmedabad partially upholds CIT(A)'s decision on TCS collection under Section 206C. Analysis focuses on Form 27C delays, proc...
Income Tax : ITAT Bangalore held that TCS credit is allowed to the entity conducting the business, irrespective of the fact that the liquor lic...
Corporate Law : Jharkhand High Court directs refund of Tax Collected at Source (TCS) by Central Coalfields Ltd. to R.S. Coke Industries (Pvt) Ltd....
Income Tax : Government specifies IFSC units exempt from tax collection under Section 206C(1H) for eligible purchases. Details outlined for buy...
Income Tax : CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Inco...
Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...
Income Tax : The Ministry of Finance exempts RBI from Section 206CCA of Income Tax Act, 1961 through Notification No. 46/2024 dated 27th May, 2...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Important Information on Challan Status – Deductor can check Challan status in case Challan is Unclaimed or Claimed. – Please Click on View your BINFor BIN details prior to FY 2013-14 – Deductor can check Challan status using BIN details or CIN details. – Deductor have two option taxguru.in for check Challan Status: √ Period […]
1. Web Socket emSigner – Introduction 2. Guide to Download and Install Web Socket Emsigner. Requirements for Using Digital Signature Functionality. Requirement for using Digital Signature functionality on Google Chrome browser and Mozilla Firefox browser: TRACES Web Socket Emsigner solution works best only on Google Chrome and Mozilla Firefox browser. Traces functionalities based on Digital […]
Important Information : PAN Verification & Consolidated TAN-PAN File The TAN-PAN master is an excel file containing the list of Valid PANs mentioned for a particular Financial year, Quarter and Form Type The deductor before filing any statement can download this file for any previous Financial year and check for the validity of PANs of […]
Important Information on Declaration of Non filing of Statement ♣ If a Deductor is not required to file statement for a particular period, then, Intimation or Show Cause notice from the Department can be avoided by giving Non Filing declaration ♣ Non Filing Declaration is implemented from Financial Year 2013-14 onwards ♣ It is required […]
Brief Steps for Online Challan Correction- Edit deductee details in unmatched challans This feature enables deductor to Edit deductee details in unmatched challans , this Functionality is available from FY 13-14 onwards only if Digital Signature Certificate is registered at TRACES website Step 1 : Login to TRACES Step 2 : Go to “Request for […]
Important Information on Statement Status ♣ For Donwloading Form 16/16A, Consolidated file, justification Report, etc. and for filing Online correction, it is important that relevant statement should be processed. ♣ Statement Status can be viewed only after Login into TRACES by deductor ♣ Statement status will help Deductor to check the status of the Regular […]
Steps of Installation of Install Digital Signature certificate PFX file/Hard Token Requirement for usage of Digital signature certificate : ♣ Valid Digital Signature should be obtained from Third Party Vendor. ♣ Only class 2 or class 3 digital Signature certificates are allowed for the purpose of registration on TRACES. ♣ TRACES supports downloadable pfx files […]
Important information on Request for resolution Only registered Deductor can avail the facility of Request for Resolution under Online grievances module. Request for Resolution can be raised from FY 2007-08 onwards Deductor can upload the relevant documents along with the query Status of Tickets Open–Ticket is with TDS CPC and will be responded within the prescribed […]
E-Tutorial 1. Important Information for Validation of 197/195(3) Certificate. 2. Brief steps for Validation of 197/195(3) Certificate. 3. Pictorial guide for Validation of 197/195(3) Certificate. 1. Important Information for “Validation of 197/195(3) Certificate.” Deductor can validate 197 & 195(3) Certificate from TRACES. This facility is available from Financial Year 2007-08 onwards. 197 & 195(3) Certificate […]
Brief Steps for e-Tutorial Online Correction –Pay 220, Interest, Levy, Late Filing ♠ This feature enables deductor to set off Interest, Late filing default ♠ For example, If deductor wants to set off Interest and late filing default with a challan having available balance which is already there in the statement. Deductor can pick that […]
