TIN revises rates for e-TDS/e-TCS, AIR, Form 24G returns
TIN with effect from May 4, 2013, revised rates for acceptance of e-TDS/TCS, Form 24G Statements and AIR at TIN Facilitation Centres (TIN-FCs). They are as under: Basis of charges… Read more »
Tag: TDS rates
TDS Rates for FY 2013-14 / AY 2014-15
Applicable TDS Rates are same as were in force for F.Y. 2013-13 except the changes specified below. I.Rates for deduction of income-tax at source during the financial year 2013-14 from… Read more »
Credit is to be allowed in respect of TDS made on higher amount of reimbursement than actually offered to tax
Undisputedly, the assessee company earned income of Rs. 4,65,00,000/- only by way of Engineering fees. Another amount of Rs 4,65,00,000/- had been received as tooling advance. This latter amount was… Read more »
How to register your TAN at TRACES: FAQ
TRACES stands for TDS Reconciliation Analysis and Correction Enabling System and has been set up by TDS Centralised Processing Cell of the income-tax department. TRACES will integrate the following components:… Read more »
No deduction in certain cases – specified payment under section 197A(1F)
SECTION 197A OF THE INCOME-TAX ACT, 1961 – DEDUCTION OF TAX AT SOURCE – NO DEDUCTION IN CERTAIN CASES – SPECIFIED PAYMENT UNDER SECTION 197A(1F) NOTIFICATION NO. 56/2012 [F. NO…. Read more »
Take penal action against TDS defaulters : govt directs
The Revenue Department has asked its officials to take action against those entities which do not promptly deposit with exchequer the tax they collect at source. “The CBDT has taken… Read more »