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 »
Category: TDS Rates
Take penal action against TDS defaulters : govt directs
The Revenue Department has asked its officials to take action against those entities which do not promptly deposit with exchequer the tax they collect at source. “The CBDT has taken… Read more »
TDS on rent 194-i not including service tax
A long awaited clarification regarding tds on payment of service tax on rent u/s 194-I has been Issued by the CBDT. Details about the issue is given here under: Brief… Read more »
TDS on cold storage rent-194c or 194i ?
Clarification regarding applicability of provisions of Section 194-I to payments made by the customers on account of cooling charges to the cold storage owners. Representations have been received from various… Read more »
Income-tax deduction from salaries under section 192 during the financial year 2012-13
Circular no. 8/2012 [F.NO. 275/192/2012-IT(B)], DATED 5-10-2012 Reference is invited to Circular No. 05/2011, dated 16-8-2011 whereby the rates of deduction of income-tax from the payment of income under the… Read more »
TDS rates for financial year 2012 -13
TDS (tax deducted at source) Rate Chart for Financial year 2012-13 is given below. Sl. No. Section Of Act Nature of Payment in brief Cut Off Amount Rate % 01.04.2012… Read more »