Income Tax : Explains tax compliance under the Income Tax Act, 1961, focusing on employees' non-liability for employer's TDS deposit failures, ...
Income Tax : Learn about Form 12BAA, introduced for employers to credit TCS for employees, ensuring accurate TDS calculation and easing tax com...
Income Tax : Treatment of income from different sources Each income has different source of earning and so the provisions for its taxability. I...
Income Tax : Learn what constitutes salary, allowances, and perquisites under the Income-tax Act. Includes details on taxability of pensions, b...
Income Tax : Explore the implications of Byju's unpaid TDS, Section 205, and the impact on employees and ITR filings. Understand legal preceden...
Income Tax : Learn about the proposed amendments to Section 192 of the Income-tax Act, allowing salaried employees to claim credit for TCS and ...
Corporate Law : Article explains TDS Rates for Financial year 2022-23 i.e. Assessment Year 2023-24 under Income Tax Act, 1961. Article contains TD...
Income Tax : SalaryTDS - Monthly Calculator helps in Precise calculations of monthly TDS values for each employee based on their annual income ...
Income Tax : BCAS made a Representation to CBDT regarding error in stating due date for Filing of Quarterly TDS Statements for Financial Year 2...
Income Tax : Income Tax Department to directly communicate deposit of tax deducted, through SMS alerts to salaried taxpayers, at the end of eve...
Income Tax : ITAT Delhi dismisses Revenue's appeal against order of Commissioner of Income Tax (Appeals) regarding valuation of perquisites and...
Income Tax : Delhi High Court rules in favor of employee, stating the employer is responsible for TDS deposit. Petitioner exempted from tax lia...
Income Tax : ITAT Delhi's decision in the case of Sumaitri Bima Distributors Pvt. Ltd vs. ITO regarding non-applicability of S.40(a)(ia) for TD...
Income Tax : ITAT Delhi rules on tax refund adjustment. Employers not depositing withheld tax can't be set off against refunds owed to employee...
Income Tax : Section 192 provides deduction of tax ‘at the time of payment’. Admittedly there was no payment of the salary etc, which was f...
Income Tax : CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees r...
Income Tax : No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th Dec...
Income Tax : CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source ...
Income Tax : Furnishing of evidence of claims by employee for deduction of tax under section 192 for the FY 2021-22 and AY 2022-23. (For Assess...
Income Tax : CBDT revises Form No. 12BA (Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu o...
CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees regarding their intended Tax Regime (Old or New under section 115BAC) and deduct TDS accordingly, If intimation is not made by an employee then his default tax regime is new Income Tax regime u/s 115BAC. CBDT […]
A Salaried Employee’s Tax Proof Certificate Form 16 to Auto Calculate and Auto Preparation Excel Based Master of Form 16 for the F.Y.2022-23 and A.Y.2023-24 Download from the attached file as Auto Calculate and Automatic Preparation Master of Form 16 Part B for the Financial Year 2022-23 and Assessment Year 2023-24(This Excel utility can prepare […]
alleged default towards non deduction of TDS from payments made to Guest faculties with reference to Section 194J of the Income Tax Act, 1961
HC held that, requirement is only for amount of TDS, and not amount eventually deposited with government after deduction and since Employer had deducted TDS from salary of assessee, TDS has to be allowed in intimation under Section 143(1) of Income Tax Act, 1961
Maximize Tax Savings AY 2023-24: Essential Documentation for Salary Deductions – A concise guide to documents required for claiming deductions.
Requirement to allow TDS credit on Salary is only of amount of tax deducted at source & not getting deposited with Government after deduction.
Understand the changes to TDS on payment of accumulated balance due to an employee per Budget 2023 with this blog post. Read now
Learn the importance of submitting Investment Declaration in Form 12BB to your Employer – TDS on Salary for Tax deductions! Understand how Section 80C & Section 192B of the Income Tax Act, 1961 affect your tax declaration.
Discover the significance of Form No. 12BB in the context of submitting Income Tax returns for salaried individuals and pensioners. Learn about the details required and how it aids in estimating TDS on Salary. Stay informed about the rules and regulations to ensure a smooth tax filing process.
No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th December, 2022. OFFICE MEMORANDUM Subject: Compendium of Instructions regarding grant of House Rent Allowance to Central Government employees -regarding The Department of Expenditure, Ministry of Finance has issued various instructions from time to time regarding grant of […]
