Following are some important facts to be adhered to, while submitting TDS statements, to avoid each type of Default: Late Payment Defaults: The taxes deducted must be deposited within the… Read more »
The income tax department is in the process of upgrading software applications. It is for information of PAN applicants that PAN allotment by Income Tax Department will remain suspended between… Read more »
Please refer to the following guidelines for correct reporting of 197 Certificates: The Certificate Number should be of 10 digits with Alpha-numeric structure. Please refer to the following examples: Correct… Read more »
TDS on recurring deposits makes investors either submit the exemption forms if there is no taxable income. In case of TDS on RD, they may have to revisit their tax… Read more »
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) reminder communication to banks regarding closure of defaults in Quarterly TDS Statements from Financial Year 2007-08 onwards. The issued communication has been given below: The Principal Officer Name: XXXXXXX… Read more »