Income Tax : Explore the process of obtaining a lower or no TDS certificate in India. Learn who can apply, eligible income categories, applicat...
Income Tax : The Central Board of Direct Taxes after considering the severe continuing COVID-19 pandemic situation in the country, vide Circula...
Income Tax : In the wake of the pandemic Covid-19 and in the interest of taxpayers, the Central Board of Direct Taxes (CBDT) extended time limi...
Income Tax : सरकार द्वारा कोरोना महामारी को देखते हुए आयकर से ...
Income Tax : CBDT issued Income Tax circular No. 09/2021 dated 20.05.2021, in exercise of its power under section 119 of the Income-tax Act, 19...
Income Tax : The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advanc...
Income Tax : NSDL has recently started a online facility by which deductee can verify the correctness of TDS Certificate (Form 16A) issued by t...
Income Tax : Download e-Tutorial – Form 16A (PPT) As per Income Tax Department (ITD) circular no. 03/2011 dated May 13, 2011 Companies an...
Income Tax : The existing provisions of section 203(3) of the Income-tax Act dispense with the requirement of furnishing of TDS certificates by...
Income Tax : A scheme for dematerialisation of Tax Deducted at Source (TDS)/ Tax Collected at Source (TCS) certificates was introduced through ...
Income Tax : Whether the Learned Income Tax Appellate Tribunal erred in law in holding that the amount shown in 26AS only should be taken into ...
Income Tax : Held that in absence of TDS certificate, assessee has to furnish any other evidence to support deduction of tax at source by the p...
Income Tax : Respondents have denied refunding the TDS on the ground that the refund would only be granted when the TDS matches with the detail...
Income Tax : It is pertinent to note that the Central Board of Direct Taxes had issued Circular No. 7/2007 dated 23 July 2007 which provides th...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
Income Tax : Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with...
Income Tax : Notification No. 41/2010-Income Tax Time and mode of payment to Government account of tax deducted at source or tax paid under sub...
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 : Trade Cir. No. 4 T of 2008 Section 31 of the Maharashtra Value Added Tax Act, 2002 provides for deduction of tax at Source. Sectio...
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 […]
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 filing the TDS/TCS return.
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 or State Bank of India or any authorised bank accompanied by prescribed Income-tax challans as per the time limit and mode specified in Rule 30.
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 @ […]
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 […]
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 […]
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.
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 […]
Form 16 is a certificate issued by an employer to employee evidencing details of salary and other income and the TDS which is deducted from salary and deposited with the Income Tax Department. Form 16, essentially has two components to it- Part A and Part B.
The employee has a right to obtain the TDS certificate in form 16 from his employer. The certificate details should be filled in return of income, since no credit for TDS can be given without it. In case your employer fails to issue the TDS certificate, he shall be liable to a penalty of Rs. 100/- for each day of default u/s 272A(2)g). The Only remedy in case your employer refuse to issue you tds certificate or he is not issuing TDS certificate is that you can complain to the concerned Assessing Officer in writing, who will take appropriate action or initiate penalty proceedings against the employer.
