TDS Rates for FY 2013-14 / AY 2014-15
Applicable TDS Rates are same as were in force for F.Y. 2013-13 except the changes specified below. I.Rates for deduction of income-tax at source during the financial year 2013-14 from… Read more »
Category: TDS Rates
Credit is to be allowed in respect of TDS made on higher amount of reimbursement than actually offered to tax
Undisputedly, the assessee company earned income of Rs. 4,65,00,000/- only by way of Engineering fees. Another amount of Rs 4,65,00,000/- had been received as tooling advance. This latter amount was… Read more »
How to register your TAN at TRACES: FAQ
TRACES stands for TDS Reconciliation Analysis and Correction Enabling System and has been set up by TDS Centralised Processing Cell of the income-tax department. TRACES will integrate the following components:… Read more »
TRACES: new website to replace TIN-NSDL for TDS return Filing, Matching, correction, Form 16/16A, FVU files
TRACES stands for TDS Reconciliation Analysis and Correction Enabling System and has been set up by TDS Centralised Processing Cell of the income-tax department. TRACES will integrate the following components:… Read more »
No deduction in certain cases – specified payment under section 197A(1F)
SECTION 197A OF THE INCOME-TAX ACT, 1961 – DEDUCTION OF TAX AT SOURCE – NO DEDUCTION IN CERTAIN CASES – SPECIFIED PAYMENT UNDER SECTION 197A(1F) NOTIFICATION NO. 56/2012 [F. NO…. Read more »
Grossing up in absence of PAN should be at rates in force and not at 20%
As regards the grossing up u/s 195A of the Income-tax Act is concerned, we find that the provision reads as under: [In a case other than that referred to in… Read more »