Income Tax : The continued use of old Form 13 instead of Form 128 reflects system lag. The issue underscores the need for synchronization betwe...
Income Tax : An overview o the Lower Deduction Certificate (LDC) under Section 197. Learn who can apply, the benefits for cash flow, and the on...
Income Tax : Facing tax-related issues? Learn how to resolve grievances effectively as a Deductor on the TRACES website. Step-by-step guide for...
Income Tax : Learn how to file and track tax-related grievances on TRACES website. Find out categories available, steps to raise a request, and...
Income Tax : Learn how to resolve grievances as a deductor on TRACES website. Follow these steps for resolution, tracking, and online correctio...
Income Tax : TDS CPC has been one of the successful projects of the Government for online tracking of the Tax deducted, deposited, corrections...
Income Tax : Advisory for Deductors 1. Deductors deduct tax at lower rate on payment/credit to deductee on production of certificate duly issue...
Income Tax : Attention Deductors: The Online Correction functionality with enhanced features has been enabled “without Digital Signature&...
Income Tax : Attention Deductors: The Online Corrections facility is currently live only with Digital Signatures and the facility without the s...
Income Tax : CPC (TDS) is committed to contribute effectively in the nation building process through efficient tax administration and improved ...
Income Tax : The Delhi High Court directs tax authorities to process TDS credit for AY 2007-08 based on taxpayer-provided details when TRACES d...
Income Tax : It is not disputed that tax was deducted at source by the tenant Union Motors Services Limited and they have issued some Certifica...
Income Tax : Procedure, format and standards for filling an application in Form No. 15C or Form No. 15D for grant of certificate for no-deducti...
Income Tax : CBDT notidfies Procedure for the purposes of furnishing and verification of Form 26A for removing of default of Short Deduction an...
TRACES registration is mandatory for every deductor/taxpayer and PAO who wants to avail facilities provided by TRACES. Please click on this link for know about the facilities provided by traces https://taxguru.in/income-tax/traces-importance.html Before know about how to do registration on TRACES we need to know about that who is the Tax Deductor, Taxpayer and PAO. 1. […]
Traces (TDS Reconciliation Analysis and Correction Enabling System) is an online facility provided by the Income Tax Department at www.tdscpc.gov.in. The main objective of this facility is:- 1. Payers and Deductors both are able to view taxes paid online. 2. Tax Deductor are able to view all deposit challan to government. 3. Tax Deductor are […]
At TDS (CPC), Redressal of Grievance mechanism is called ‘Request for Resolution’. Following are its key points: 1. Request for Resolution Deductor can raise grievances online through ‘Request for Resolution‘ functionality available at TRACES. Grievances can be raised from Financial Year 2007-08 onwards. Key Points: * Deductor can select appropriate category for raising Request for […]
The company distributing dividends to the investors of equity shares should deduct TDS on such dividends. The deductor must deposit the TDS and file the TDS Return on TRACES.
Discover the significance of Form 26A in Income Tax Act, 1961. Learn why and how this form is crucial for avoiding penalties.
Section 203 of the Income-tax Act 1961 read with the Rule 31 of the Income-tax Rules 1962 requires the deductor to issue certificate of tax deduction at source (TDS) to the deductee. The relevant form for such TDS certificate is Form No.16 in case of deduction under section 192 and Form No.16A for deduction under any other provisions of Chapter XVII-B of the Act. TDS certificate in Form No.16 is to be issued annually whereas TDS certificate in Form No.16A is to be issued quarterly.
When you file your TDS/TCS return, first the details regarding deposit of TDS/TCS made by you is compared with the data given by banks. The data is uploaded by banks on the basis of the TDS/TCS challans received by them. For this purpose, the Challan Identification Number (CIN), TAN and TDS amount as given in your TDS/TCS return is compared with the corresponding details given in the challan details provided by the bank that has accepted the tax. (CIN consists of the BSR code of the branch where you deposited the tax, date on which you deposited tax and the challan serial number which have been stamped on the counter foil of the challan given to you.)
The answer is ‘NO’ there is no such provisions in the Income tax Act /rules to adjust the same by assesee himself. If the excess is related to perriod up to 31.03.2010 then Assesssee can claim refund of the same as per the provisions of CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011 . Detailed analysis of the same can be seen on the link given below:-
Form 16A PDF Converter Utility. 1. The Form 16A text file is to be passed through the PDF Converter Utility to convert to generate PAN wise Form 16A in PDF format. 2. The PDF Converter Utility is available to registered TANs at TIN. 3. It is available under the option ‘Form 16A’ post login to TAN account.
As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the deductor. Now if we focus on the word Valid TDS Certificate, it means Form 16/ Form 16A issued by authenticated authority. As on the current date the TRACES have the authorisation […]
