Income Tax : Article discusses about Meaning/ Structure/ Relevance of TAN, Persons liable to apply for TAN, Consequences of not quoting TAN, Pr...
Income Tax : 1. File Validation Utility (FVU) version 7.1 for quarterly e-TDS/TCS statement pertaining to FY 2010-11 onwards Key Features 1) Ad...
Income Tax : Learn how to pay your taxes under the Income Tax Act, 1961. Discover the options for online and offline payment and ensure complia...
Income Tax : 1. What is e-tax payment? Ans. This is a facility provided to the taxpayers to make income tax payments through internet using net...
Income Tax : eTutorial - Online TAN Registration and Request for Consolidated TDS/TCS file from TIN - Download Step by step guideline on how to...
Income Tax : Online Upload of e-TDS/TCS statement(s) and AIR functionality will be discontinued from May 1, 2016 at NSDL e-Gov end. The users w...
Income Tax : TIN users who have registered on TRACES but not activated their account within 24 hours will have to register as new user. Click o...
Income Tax : NSDL on its website on 21/06/2011 posted a message by which it asked to Quote updated e-mail ID and contact details including mob...
Goods and Services Tax : Government of India has constituted a seven member Technology Advisory Group for Unique Projects (TAGUP) on June 1, 2010, headed b...
Finance : Ministry of Finance has constituted the Technical Advisory Group for Unique Projects (TAGUP). This Committee has been constituted ...
Income Tax : CIRCULAR NO. 02 / 2009 One of the fundamental principles of financial accounting is that if a person claims credit for payment o...
Goods and Services Tax : As the banks shall not be accepting returns or the corresponding tax payments from such dealers and as they shall not be able to g...
Goods and Services Tax : In order to file electronic returns, the dealers are required to enroll themselves for the e services offered by the Department. I...
Goods and Services Tax : After receipt of Eligibility Certificate and the above mentioned information from the Industry Department, the Sales Tax Departmen...
Goods and Services Tax : Vide above referred Trade Circular, the Sales Tax Department ("the S.T.D.") barred the unregistered dealers/ persons/employers fro...
NSDL on its website on 21/06/2011 posted a message by which it asked to Quote updated e-mail ID and contact details including mobile no. in our Quarterly TDS/TCS statement so that it can send updates on developments/ changes at TIN on our email address and via sms on our mobile phone.
CBDT has recently vide Circular No. 3/2011 [F.No. 275/34/2011-IT(B)] (Circular) dated 13 May 2011 permitted issue of certificate for tax deducted at source (TDS certificate) with digital signature for TDS from income other than salary income (non-salary TDS) in Form 16A. The extant rules provide an option to persons withholding tax (deductors) to issue TDS certificate with digital signature only for TDS from salary income (in Form 16). Non-salary TDS certificates in Form 16A are required to be issued in hard copy format with authentication by manual signature. The Circular now extends the option of digital signature to Form 16A also. The deductors exercising this option need to download Form 16A from the Tax Information Network (TIN) website.
Government of India has constituted a seven member Technology Advisory Group for Unique Projects (TAGUP) on June 1, 2010, headed by the Chairman, Unique Identification Authority of India (UIDAI), Shri Nandan Nilekani to address various technological and systemic issues relating to the reliable, secure and efficient functioning of IT intensive systems in Government such as Tax Information Network (TIN),
With effect from financial year 2010-11, the threshold of gross turnover for getting the accounts audited has been enhanced from Rs. 40 lakhs to Rs. 60 lakhs. Further, dealers covered under the Package Scheme of Incentives are required to get their accounts audited irrespective of turnover limit.
Ministry of Finance has constituted the Technical Advisory Group for Unique Projects (TAGUP). This Committee has been constituted in pursuance of the Finance Minister’s Budget Speech 2010-11 wherein he proposed to set up a Technology Advisory Group for Unique Projects under the Chairmanship of Shri Nandan Nilekani for an effective tax administration and financial governance system through creation of IT projects which are reliable, secure and efficient.
While accepting “Application for allotment of PAN (Form 49A)” if both the addresses (residence and office) are mentioned in the application form and office address has been selected as communication address, then POA has to be collected for residence as well as office address.
It has been directed that ITR-1 to ITR-8 shall require the quoting of the relevant UTN for every TDS or TCS claim made by an assessee and that the credit for any TDS/TCS claim will be allowed only if the assessee quotes the relevant UTN and the said UTN matches with that in the database […]
Income Tax Department has introduced a scheme for centralized processing of annual income-tax returns which envisages no interface with the tax payer and processing of returns to be done in an automated jurisdiction-less manner. Implementation of such scheme requires having a robust system for information relating to payment of TDS and TCS so that the credit for TDS and TCS can be granted accurately and the risk of financial fraud is minimized.
CIRCULAR NO. 02 / 2009 One of the fundamental principles of financial accounting is that if a person claims credit for payment of money to a third person, the credit should be allowed only if the payment and the information relating to the transaction have been received from the third person. The advance tax and self assessment tax is paid directly by the assessee by filling a challan whichbears a unique Challan Identification Number (CIN)
As the banks shall not be accepting returns or the corresponding tax payments from such dealers and as they shall not be able to get themselves registered for e-services, their physical returns shall be accepted by the Sales Tax Department.
