Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted
If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax… Read more »
I-T department warns taxpayers against fraudulent emails
The Income Tax Department warned tax payers against phishing/fraudulent refund emails saying it does not seek details of personal information like PIN through e-mail. “The Income Tax Department does not… Read more »
Expedite Tax Refunds Below Rs. 50,000: CBDT
In an effort to reduce taxpayers grievances, the Central Board of Direct Taxes on Monday directed the Income Tax department to expedite issuance of pending refunds which are below Rs…. Read more »
Consequences for a deductor if he fails to deduct TDS or fails to deposit it to the Government’s account
A deductor would face the following consequences if he fails to deduct TDS or after deducting the same fails to deposit it to the credit of Central Governments account:- a)… Read more »
Stringent authentication mechanism for filing of correction statements & download of TDS certificates, consolidated files etc. by Banks / Corporates
The Direct Taxes Directorate of Income-tax (Systems), CBDT vide Notification No. 3 /2015 dt. 1st of December 2015 has notified Stringent Authentication Mechanism through Corporate Head Quarter Server for filing… Read more »
CBDT notifies emails as new communication mode with taxpayers
The Central Board of Direct Taxes has notified use of emails as the new mode of communication between the taxman and taxpayers, as part of the government’s e-initiative to reduce… Read more »