Penalty Chart under the Income Tax Act, 1961
Given below is the chart which shows section under which penalty can be imposed, nature of default and quantum of penalty. PENALTIES UNDER INCOME TAX ACT Section Nature of Default… Read more »
Tag: TAN
TDS on transfer of immovable properties w.e.f 01.06.2013
From June 1st 2013, transfer by a resident of immovable property (other than agricultural land) where consideration exceeds Rs 50 lakhs would attract TDS @ 1% u/s 194 IA. The… Read more »
Reasons for mistakes in credit for tax payments or TDS
A major reason for difference in refund amount during processing is that the details of tax payment or TDS do not match with the data available with the Department. The… Read more »
No requirement to obtain TAN by transferee of immovable properties
No requirement to obtain TAN by transferee deducting tax under section 194-IA Section 194-IA was proposed to be inserted by the Finance Bill, 2013 to provide for deduction of tax… Read more »
Ten Tax Saving Options for Salaried Employees
1. Leave allowance: An employee can use such an allowance to cover his domestic travel and can be used for air, rail, and road transport. 2.Gratuity paid to an employee also… Read more »
Password to open Consolidated Statement file downloaded from tdscpc.gov.in
As you know that to revised eTDS return Consolidated Statement file is required and for that also now you have to go to the new website tdscpc.gov.in to download consolidated… Read more »