Inconsistencies in the TDS / TCS statements
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… Read more »
Category: TCS
TCS Rates for the FY 2011-12
The Tax Collection at Source Rates for the Financial Year 2011-12 is tabulated below: Sl.No. Nature of Goods Rates in % 1. Alcoholic liquor for human Consumption 1 2. Tendu… Read more »
Surcharge on Income-tax
Surcharge on Income-tax is not deductible/collectible at source in case of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.
Acceptance of e-TDS/TCS statements in Pen Drive
Submission of e-TDS/TCS statement has been enabled in Pen Drive in addition to the existing option of CD. Deductors /Collectors are advised to check the feasibility of acceptance of statement… Read more »
Consequences Of Default
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 permits issue of TDS certificate for non-salary (Form 16A) income with digital signature
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 »