Category: TCS certificates

CPC (TDS) communication: Intimation regarding Outstanding TDS demand on account of Short Payments from FY 2007- 08 onwards – Reg.

To  M/s. __________________ TAN:__________________ Address:_______________ _______________________ _______________________       CPC (TDS) communication: Intimation regarding Outstanding TDS demand on account of Short Payments from FY 2007-08 onwards- Reg. Please refer the subject… Read more »

Budget 2015-16: Relaxing the requirement of obtaining TAN for certain deductors

Under the provisions of section 203A of the Act, every person deducting tax (deductor) or collecting tax (collector) is required to obtain Tax Deduction and Collection Account Number (TAN) and… Read more »

Budget 2015-16: Rationalisation of provisions relating to tax deduction at source (TDS) and tax collection at source (TCS)

Under Chapter XVII-B of the Act, a person is required to deduct tax on certain specified payment at the specified rate if the payment exceeds the specified threshold. The person… Read more »

Late Filing Fee u/s 234E – Judicial Interpretation – Hon’ble High Court of Bombay – February 6, 2015

Dear Deductor, Section 234E of the Income-tax Act, 1961 inserted by the Finance Act, 2012 provides for levy of a fee of Rs. 200/- for each day’s delay in filing… Read more »

CPC (TDS) follow up for closing Short Payment Default due to Insufficient Challans

CPC (TDS) has observed from its records that there are outstanding Short Payment Defaults with respect to TDS Statements filed by deductors.  The Short Payment Defaults are due to “Insufficient… Read more »

Significant change in processing of Quarterly TDS Statements

CPC (TDS) has issued a communication to deductors in which it has stated about a significant change in processing of Quarterly TDS Statements. The central point in the new process… Read more »