The Rate Chart for the Financial Year 2011-12 i.e. Assessment Year 2012-13 is tabulated below. TDS Rates for the Financial Year 2010-11 is also same. TDS RATE CHART FINANCIAL… Read more »
A recent circular issued by the Central Board of Direct Taxes (CBDT), Circular No. 2/[ F. No. 385/25/2010-IT(B)] (new Circular) dated 27 April 2011, outlined the procedure for refund of… Read more »
Failure to deduct or remit TDS/TCS (fully or partially) Interest: Interest at the rates in force (12% p.a.) from the date on which tax was deductible /collectible to the date… Read more »
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… Read more »
As directed by DIT (Systems), deductor/ collector are advised to prepare correction TDS/TCS statements using consolidated TDS/TCS file only, provided by TIN. Consolidated TDS/TCS file is provided to registered TANs…. Read more »
An Individual or a Hindu Undivided Family whose total sales, gross receipts or turnover from business or profession carried on by him does not exceeds the monetary limits(Rs.60,00,000 in case… Read more »