Tag: 1961

Payment of interest on refund under section 244A of excess TDS deposited under section 195 of the Income tax Act, 1961

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The Income Tax (I-T) department will now add interest amount to a delayed refund made on excess tax deducted at source (TDS) cuts and will also not litigate with the… Read more »

Tax is not to be deducted at a higher rate of 20 percent under Section206AA of the Income-tax Act when the benefit of tax treaty is available

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Recently, the Bangalore Bench of the Income-tax Appellate Tribunal (the Tribunal) held that there is no scope for the tax deduction at source (TDS) at a higher rate of 20… Read more »

CPC (TDS) communication: TDS Defaults exist in all Six preceding Quarters, “No Correction TDS Statement filed as yet”

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As per the records of the Centralized Processing Cell (TDS), there exist outstanding Defaults in “all six preceeding Quarters” with respect to the TDS Statements filed by deductors, relevant to… Read more »

CPC (TDS) reminder to Deductors: Statement filed during Q1 FY 2013-14 to Q2 FY 2014-15, TDS certificates not downloaded for any of the Quarters

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CPC (TDS) has issued a reminder communication to deductors in which it has stated about the downloading of TDS certificates. According to CPC (TDS), TDS Statements have been filed by… Read more »

Sec. 234E Fine For Late Filing Of TDS Returns is constitutionally valid: Bombay HC

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Rashmikant Kundalia vs. UOI (Bombay High Court), WRIT PETITION NO.771 OF 2014, Pronounced On : 9th February, 2015 Petitioners have challenged the constitutional validity of section 234E of the Income… Read more »

CPC (TDS) advisory for use of Digital Signatures on TRACES

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CPC (TDS) has issued an advisory communication in which it has stated about the release of a new feature on TRACES where a Digital Signature Certificate (DSC) can be used… Read more »