Income Tax - Recently the income tax department has issued a new way to download CSI file for TDS returns without logging in to income tax portal , The steps are as follows. 1. Go to https://www.incometax.gov.in/iec/foportal/ 2. Fill in the requisite details and then submit. 3. Choose the date range and then download the CSI file PLEASE […]...
Income Tax - Filing of Form 26QB (TDS on Purchase of Immovable Property) and Payment of TDS Under section 194-IA w.e.f. 01st April, 2023 through Income Tax Site (E-filing Portal) As per section 194-IA of the Income Tax Act, 1961, any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to […]...
Income Tax - Article explains provisions related to TDS Payment & Return Due Date, TDS Late Fees under section 234E,TDS Interest under Section 201, TDS Penalty under Section 271H, TDS Prosecution under Section 276B and TDS Rate (As Applicable from 01-04-2023 onwards). TDS Payment & Return Due Date Liability for the M/o TDS Payment Due Date T...
Income Tax - Late Fee interest u/s 234E of Income Tax Act – for filling of TDS return prior to 01/07/2015 1. As per Section 200(3) of the Act read with Rule 31A of the Income Tax Rules, 1962 (hereinafter referred to as ‘Rules’) a tax deductor is required to file quarterly statement of such taxes deducted at […]...
Income Tax - Article explains What is TDS Return, What is a Revised TDS Return, Who is required to file a TDS return, When do we need to file revised TDS Returns and Types of correction in TDS Return under Income Tax. Introduction The TDS idea was introduced with the intention of collecting tax at the source of […]...
Income Tax - Latest updates in RPU Version 4.7 for Regular & Correction quarterly e-TDS/TCS statements starting FY 2023-24. Discover key features and changes in Form 24Q, 26Q, 27Q, and 27EQ....
Income Tax - Latest updates in File Validation Utility (FVU) versions 2.178 and 8.2 for e-TDS/TCS statements. Learn about new columns, features, and download links effective from September 2023....
Income Tax - Needless to say, in the regime of stringent statutory provisions, it is important to have a reliable software that not only helps in preparing TDS Returns but also takes care of the associated compliances....
Income Tax - Preparing TDS Returns is a simple process and usually does not require any external assistance. However, it is prudent to follow practices that ensure that the filed TDS Returns are error-free. This means that correct credit will be received by the employees and vendors. Moreover, it will help avoid receiving unwanted Default Notices from...
Income Tax - In order to make the process of claim of TDS error free, a system was devised some years ago in 2009 and published vide circular no 2/2009, dated 21.05.2009. The relevant excerpt from the said circular is as follows:...
Kanta Govind Singh Vs ACIT (ITAT Ahmedabad) - ITAT Ahmedabad has allowed the appeal of Kanta Govind Singh against the levy of a late filing fee under section 234E for a TDS return. The appellant, a senior citizen, had promptly deposited the TDS amount but had inadvertently filed the return late due to old age and human error. The ITAT deemed th...
Envision Landmarks LLP Vs TDS (ITAT Pune) - ITAT Pune held that late fees u/s 234E of the Income Tax Act can be levied only prospectively with effect from 01.06.2015....
Alapatt Fashion Jewellery Vs ITO (Kerala High Court) - This writ petition has been filed, challenging the levy of fees under Section 234E of the Income Tax Act, for the financial year 2012-13 on the ground that the provisions of Section 234E of the Act can operate only prospectively, i.e, with effect from 01.06.2015 and not in respect of any earlier per...
Maruti Steel Fab Vs ACIT (ITAT Pune) - Section 200A deals with processing of TDS statement & Clause (c) of sub-section (1) of section 200A was inserted w.e.f. 01-06-2015 providing for levy of fee u/s. 234E ...
Corrtech International Pvt. Ltd. Vs ACIT (ITAT Ahmedabad) - ITAT Ahmedabad held that there was delay in filing statement in Form 24Q/ 26Q due to heavy loss incurred by assessee. However, the same was filed before issuance of show cause notice and late payment of TDS was done along with interest. Hence, it shows that there was no mala fide intention on the pa...
Circular No. 9/2023-Income Tax - (28/06/2023) - Central Board of Direct Taxes extends deadline for submitting Q1 TDS/TCS statements for the financial year 2023-24 until September 30, 2023....
Circular No. 21/2022-Income Tax - (27/10/2022) - CBDT extends due date for filing of TDS statement in Form 26Q for the second quarter of Financial Year 2022-23 This is to inform that Central Board of Direct Taxes (CBDT) has extended the due date of filing of form 26Q for the second quarter of financial year 2022-23 from 31st October’2022 t...
Circular No. 9 of 2021 - Income Tax - (20/05/2021) - 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 section 139 of the Act, is extended to 30th September 2021; 10) The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-...
Notification No. 15/2021-Income Tax [G .S. R. 170(E)] - (11/03/2021) - CBDT revises Form No. 12BA (Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof), Part B to Form 16 (Details of Salary Paid and any other income and tax deducted) and Annexure II to Form No. 24Q vide Notification No. 15/20...
Circular No. NSDL/TIN/2020/006 - (20/04/2020) - All the due dates, prescibed or notified under the Income Tax Act which fall during the period from March 20, 2020 to June 29, 2020 have been extended to June 30, 2020....
Circular No. 9/2023-Income Tax - 28/06/2023
Kanta Govind Singh Vs ACIT (ITAT Ahmedabad) -
Envision Landmarks LLP Vs TDS (ITAT Pune) -
Alapatt Fashion Jewellery Vs ITO (Kerala High Court) -
Maruti Steel Fab Vs ACIT (ITAT Pune) -