It has been brought to the notice of CBDT that in cases of minors whose both the parents have deceased, TDS deductors/ Banks are clubbing the interest income accrued to the minor in the hand of grandparents and issuing TDS certificates to the grandparents, which is not in accordance with the law as the Income-tax […]
Day: May 30, 2017
The Central Board of Direct Taxes (CBDT) had earlier issued Circular No. 4/2002 and Circular No. 7/2015 having details of entities whose income is unconditionally exempted under section 10 of Income Tax Act and who are also statutorily not required to file return of income as per section 139 of the act, there would be […]
In case of excess deduction of tax at source, claim of refund of such excess TDS can be made by the deductor. The excess amount is refundable as per procedure laid down for refund of TDS. The difference between the actual payment made by the deductor and the tax deducted at source or deductible, whichever […]