Tag: TDS Credit

CPC (TDS) Advisory for Tax Credits in 26AS with respect to Tax Deducted on Sale of Immovable Property (26QB Statement)

      1 Comment on CPC (TDS) Advisory for Tax Credits in 26AS with respect to Tax Deducted on Sale of Immovable Property (26QB Statement)

As per section 194IA of the Income Tax Act, buyer is required to deduct tax at source @1% of the amount paid/credited to the seller. Therefore, after processing of 26QB… Read more »

The taxpayer is entitled to TDS credit of its sister concern appearing in its Form 26AS due to an inadvertent error of a deductor

      No Comments on The taxpayer is entitled to TDS credit of its sister concern appearing in its Form 26AS due to an inadvertent error of a deductor

Background Recently, the Delhi High Court (High Court) in the case of Relcom1 (the taxpayer) held that the taxpayer is entitled to the credit of the Tax Deducted at Source… Read more »

Implications of Non/Late filing of TDS Statements

      1 Comment on Implications of Non/Late filing of TDS Statements

Implications of Non/Late filing of TDS Statements has been given below: For Tax payers: Non/ Late etds filing results into the TDS Credit not being available to the deductees (employees… Read more »