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Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
Income Tax : Addressing glitches in ITD portal, the Association of Tax Lawyers requests an extension for the ITR filing deadline due to signifi...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
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Income Tax : Receive a reminder from CPC (TDS) to file your TDS Statement 26Q for Quarter 4, F.Y. 2023-24. Understand implications of non-compl...
Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
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Income Tax : Learn about CBDT Circular No. 6/2024 offering relief to TDS deductors for transactions up to March 31, 2024, when PAN becomes oper...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
Income Tax : Discover the latest Circular from the Ministry of Finance, India, outlining measures to reduce tax litigation by specifying condit...
Income Tax : Get details on Circular No. 04/2024 by CBTD. Ex-post facto extension for Form No. 26QE due date till 30.05.2023. Waiver of fees an...
Cases, where the tax deducted is between Rs.25,000 and Rs. 1,00,000 and the same is not deposited by the due date prescribed under the Income Tax Act, 1961 read with the Income Tax Rules, 1962 may be processed for prosecution depending
Fr. Sabu P.Thomas Vs Union of India (Kerala High Court) The receipts in question, in the instant cases, are amounts by way of salary and pension. These payments accrue to the individuals concerned, who have rendered service in their individual capacity and based on the educational qualifications and skills possessed by them as individuals. The […]
The Project marks a major step in ensuring TDS compliance through the processing of TDS returns and comprehensive data processing of TDS statements using technology driven end-to-end processes. At present 15 Lakh deductors and 2.5 crore tax payers are using various e-enabled online services through the CPC (TDS).
The provisions of section 40(a)(ia) of the Act has two limbs one is where, inter alia, assessee has to deduct tax and the second where after deducting tax, inter alia, the assessee has to pay into Government Account.
Nowadays Centralized Processing Cell (TDS) is intimating discrepancies observed with respect to TAN of the deductors in the ‘TDS claimed by the taxpayers in their Income Tax Returns’ vis-á-vis ‘Tax Credits available as per 26AS Statements’, for the Financial Years 2011, 2012 and 2013.
It is not disputed that tax was deducted at source by the tenant Union Motors Services Limited and they have issued some Certificates which has been given credit to by the Department. The present dispute relates to the failure of non issuance of TDS certificates by the tenant.
The Short Payment Defaults are generally due to ‘Insufficient Challans’, which could be due to the following reasons: You have adequate balance available in OLTAS challans, however, some other challans may have been incorrectly used, which are already consumed. You have tried to consume more than the available challan amount for reporting TDS deducted in […]
7 January 2015 Due date for deposit of Tax deducted/collected for the month of December, 2014 7 January 2015 Due date for deposit of TDS for the period October 2014 to December 2014 when Assessing Officer has permitted quarterly deposit of TDS under sections 192, 194A, 194D or 194H.
Himachal Pradesh High Court in the case of CIT vs. State Bank of Patiala held that the exemption notification issued by Central Govt. allowing non-deduction of TDS in case of certain deductees has an automatic effect as soon as the same is issued and there is no such requirement in the act to obliging deductor to specifically apply for availing the benefit under that notification.
1. Step 1: CPC (TDS) will first process Original TDS Statements till the stage of 26AS generation for deductees reported. 2 Step 2: Short Payments and PAN Errors will be identified in the preliminary check of the Original statements.
