The various provisions of TDS are statutorily required to be strictly complied with. Any default in compliance can attract, levy of interest, penalty and in certain cases initiation of prosecution… Read more »
Below letter has been issued to all Banks by RBI in which RBI has directed all Banks to issue TDS certificate to Customers on time. RBI/2013-14/361 DBOD.No.Leg.BC.65/09.07.005/2013-14 November 6, 2013 All… Read more »
Government has made it mandatory w.e.f 01.06.2013 on buyer of property to deduct TDS @ 1% on payment made after 01.06.2013 if Purchase Consideration of the Property exceeds Rs. 50… Read more »
Section 203A of the Act makes it obligatory for all persons responsible for deducting tax at source to obtain and quote the Tax deduction and collection Account No (TAN) in the challans, TDS-certificates, statements and other documents. Detailed… Read more »
TDSCPC has sent a message to all the deductors, in which it has shown concern over wrong filing of TDS return by the deductors and has suggested few tips which… Read more »
As per Income Tax rulings regarding issuing of Form-16 or 16A, deductors are not responsible for non-mention of payees PAN in it. In the other words we can say if… Read more »