TDS Certificate

TDS Certificates – Detailed Discussion

Income Tax - As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the deductor. Now if we focus on the word Valid TDS Certificate, it means Form 16/ Form 16A issued by authenticated authority. As on the current date the TRACES have the authorisation […]...

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How can we check our TDS Credit?

Income Tax - We are always worried about the fact that whether our TDS deductor/collector has filed quarterly TDS/TCS statement and provided our PAN while filing the TDS/TCS return. NSDL has recently launched a facility to enable deductee to know whether or not his TDS deductor/collector has filed quarterly TDS/TCS statement and provided his PAN while...

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Provisions for TDS payment, TDS Credit, TDS Certificate, TAN

Income Tax - Deposit of Tax -Where tax has been deducted under Sections 193,194,194A,194B,194BB, 194C, 194D, 194E,194EE, 194F, 194G, 194H, 194I, 194J, 194K, 194LA, 195, 196A, 196B, 196C and 196D, it is duty of the person deducting tax at source to deposit the amount of tax so deducted within the prescribed time in any branch of Reserve Bank of India o...

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E-Tutorial on How to Download Form 16B from TRACES Website

Income Tax - Article explains How to Download Form 16B from TRACES Website. Form 16B is a TDS Certificate which reflects that the amount deducted as TDS on Property by the Buyer has been deposited with the Income Tax Department. At the time of sale of immovable property, the buyer is required to deduct TDS on Property @ […]...

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Income Tax Deductors! Time To File TDS Statement

Income Tax - E-File TDS Statement for the Quarter ended on 31st March 2019 by 31st May 2019. Due date is extended to 30th June 2019 for Odisha. Avoid Late Fees of Rs. 200/- per day and levy of Penalty upto Rs. 1,00,000 by filing TDS Statement on or before due date. INCOME TAX DEDUCTORS! -TIME TO FILE […]...

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All you need to know about TDS Rules before filling your IT returns!

Income Tax - The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advance, which means such persons shall be required to pay tax even before they got to know their full income and the TDS applicable to it. The new rules shall apply to the taxpayers, whose self -assessment tax [&h...

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How to verify correctness of TDS Certificate

Income Tax - NSDL has recently started a online facility by which deductee can verify the correctness of TDS Certificate (Form 16A) issued by the deductor. To know the correctness deductee must have the following details or should have a copy of TDS certificate issued by the deductor as information from the same need to be filled in online verificati...

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How to Download Form 16A online?

Income Tax - Download e-Tutorial – Form 16A (PPT) As per Income Tax Department (ITD) circular no. 03/2011 dated May 13, 2011 Companies and Banks are required to issue Form 16A from TIN to their deductees for deductions made from April 1, 2011 (F.Y. 2011-12). Form 16A is available to registered TANs at TIN. Form 16A is available from F.Y. 2010-11...

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Budget 2010-11: Deductor needs to issue TDS and TCS certificate even after 1st April, 2010

Income Tax - The existing provisions of section 203(3) of the Income-tax Act dispense with the requirement of furnishing of TDS certificates by the deductor to the deductee on or after 1st April, 2010. Similarly, under section 206C(5) of the Act, a collector of tax at source will also not be required to issue tax collection certificate to the person f...

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Amendments to the provisions of Dematerialisation of TDS and TCS certificates

Income Tax - A scheme for dematerialisation of Tax Deducted at Source (TDS)/ Tax Collected at Source (TCS) certificates was introduced through the Finance Act, 2004, with effect from 01.04.2005 for any deduction or collection of tax at source made on or after 01.04.2005. The commencement of this scheme was postponed to 01.04.2006 by the Finance Act, 2...

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TDS Credit cannot be denied on the ground of Form 26AS mismatch

Rakesh Kumar Gupta Vs Union of India and another (Allahabad High Court) - Respondents have denied refunding the TDS on the ground that the refund would only be granted when the TDS matches with the details mentioned in Form 26AS. Since the mismatching is not attributable to the assessee and the fault solely lay with the deductor, we find that a case has been made out for ...

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Tax credit for tax withheld cannot be denied to the payee upon subsequent refund of the TDS to the deductor

Lucent Technologies Grl Llc Vs DCIT (ITAT Mumbai) - It is pertinent to note that the Central Board of Direct Taxes had issued Circular No. 7/2007 dated 23 July 2007 which provides the procedure and circumstances for refund of tax deducted at source under section 195 of the Act to the tax deductor. How...

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Revised procedure for issue of Part B of TDS certificate in Form No. 16

Notification No. 09/2019-Income Tax - (06/05/2019) - Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules, 1962 through TRACES- reg....

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TDS /TCS Changes in Due Date for Payment, Return Filing, Mode of Payment, Time to Furnish Certificate

Notification No. 41/2010-Income Tax - (31/05/2010) - Notification No. 41/2010-Income Tax Time and mode of payment to Government account of tax deducted at source or tax paid under sub-section (1A) of section 192. Mode of payment . Certificate of tax deducted at source to be furnished under section 203.Statement of deduction of tax under sub-section (...

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TDS Amendment – Payment Due Date/ Mode, Furnishing of TDS certificate

Notification No.31/2009 - Income Tax - (25/03/2009) - Notification No.31/2009 - Income Tax , Amendment in rules related to payment of TDS, Mode of Payment and time period for furnishing of TDS certificate. Form No.16 shall be furnished to the deductee within one week after the date on which the sum of tax deducted at source is paid to the credit of the...

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Circular on Grant of Certificate for TDS

Trade Circular No. 4 T of 2008 - (26/02/2008) - Trade Cir. No. 4 T of 2008 Section 31 of the Maharashtra Value Added Tax Act, 2002 provides for deduction of tax at Source. Section 31(1) (b) (ii) of the Act empowers the Commissioner of Sales Tax to grant certificate to a contractor who is not doing Works contract. Where an application is made by t...

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Recent Posts in "TDS Certificate"

How to send TDS Certificates automatically

How to send Form 16A automatically with just a click of a button! Follow the following steps to send Form 16A for Quarter 4 of F. Y. 2019-20. You can similarly send Form 16 to employees, Invoices to customers etc. 1. Fill in the Vendor Name, Vendor Email id, Vendor PAN Number in ‘Deductee Details’. […]...

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Posted Under: Income Tax |

TDS Certificates – Detailed Discussion

As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the deductor. Now if we focus on the word Valid TDS Certificate, it means Form 16/ Form 16A issued by authenticated authority. As on the current date the TRACES have the authorisation […]...

Read More
Posted Under: Income Tax | ,

All you need to know about TDS Rules before filling your IT returns!

The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advance, which means such persons shall be required to pay tax even before they got to know their full income and the TDS applicable to it. The new rules shall apply to the taxpayers, whose self -assessment tax [&h...

Read More
Posted Under: Income Tax |

How can we check our TDS Credit?

We are always worried about the fact that whether our TDS deductor/collector has filed quarterly TDS/TCS statement and provided our PAN while filing the TDS/TCS return. NSDL has recently launched a facility to enable deductee to know whether or not his TDS deductor/collector has filed quarterly TDS/TCS statement and provided his PAN while...

Read More
Posted Under: Income Tax |

Provisions for TDS payment, TDS Credit, TDS Certificate, TAN

Deposit of Tax -Where tax has been deducted under Sections 193,194,194A,194B,194BB, 194C, 194D, 194E,194EE, 194F, 194G, 194H, 194I, 194J, 194K, 194LA, 195, 196A, 196B, 196C and 196D, it is duty of the person deducting tax at source to deposit the amount of tax so deducted within the prescribed time in any branch of Reserve Bank of India o...

Read More
Posted Under: Income Tax | ,

E-Tutorial on How to Download Form 16B from TRACES Website

Article explains How to Download Form 16B from TRACES Website. Form 16B is a TDS Certificate which reflects that the amount deducted as TDS on Property by the Buyer has been deposited with the Income Tax Department. At the time of sale of immovable property, the buyer is required to deduct TDS on Property @ […]...

Read More
Posted Under: Income Tax |

Income Tax Deductors! Time To File TDS Statement

E-File TDS Statement for the Quarter ended on 31st March 2019 by 31st May 2019. Due date is extended to 30th June 2019 for Odisha. Avoid Late Fees of Rs. 200/- per day and levy of Penalty upto Rs. 1,00,000 by filing TDS Statement on or before due date. INCOME TAX DEDUCTORS! -TIME TO FILE […]...

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Posted Under: Income Tax | ,

e-tutorial on filing of Revised Form 24Q (Annexure-II)

As per CBDTs Notification 36/2019, dated 12th Apr 2019 the format of TDS statement in Form No. 24Q, Annexure – II has been revised. The notification shall come into force w.e.f. 12th May 2019. The revised Form 24Q, Annexure – II has brought certain changes with regard to the reporting of transactions while filing the […...

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Posted Under: Income Tax | ,

Revised procedure for issue of Part B of TDS certificate in Form No. 16

Notification No. 09/2019-Income Tax (06/05/2019)

Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules, 1962 through TRACES- reg....

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New Form 16: Important Changes in Form 16 You Must Know

The Form 16 format has been revised by the Central Board of Direct Taxes (CBDT) and is applicable from 12th of May. The format specified in the notification comes is effective from May 12, 2019, which is well before the last date for issue of Form 16 for salary by employers. Therefore, those issuing Form […]...

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Posted Under: Income Tax |

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