Timely Issue of TDS Certificate to Customers
RBI/2013-14/361 DBOD.No.Leg.BC.65/09.07.005/2013-14 November 6, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Timely Issue of TDS Certificate to Customers It has been brought to our notice that, some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income-tax returns timely. 2. The matter… Read More
Tags: Banks, Fiscal year, Income tax, New Delhi, Rajesh Verma, Tax, Tax Deducted at Source, TDS Certificate
TDS Credit has to be given despite TDS Certificate entry is not displayed in Form 26AS
CLR Editorial Note: In this case or TDS credit, the assessee claimed credit for TDS which was denied by the Assessing Officer on the ground that the claim did not match the entries shown in Form No. 26AS and that there was a discrepancy. On appeal by the assessee, the CIT(A) held that the assessee… Read More
Tags: Bombay High Court, Commonwealth Law Reports, Delhi High Court, Income tax, India, Order of Australia, Tax, Tax Deducted at Source, TDS
Case Laws :: Sec 192 explains TDS obligation on Medical Reimbursement & LTC components of a CTC of an employee
CLR Editorial Notes: In this case related to TDS and LTC of an employee, it was noticed that the assessee (in this case - Infosys BPO, Bangalore) had recruited employees under a contract of employment which provided the salary as a ˜cost to company™ or ˜CTC™. Once the employee had determined the CTC, he/she was permitted… Read More
Tags: Bangalore, Business, Commissioner of IT, Commonwealth Law Reports, Income tax, IT Act, Leave Travel Allowance, LTC, Payment, Salary, Section 192 of the IT Act, Tax Deducted at Source, TDS
Simplification of Procedure for deposit of tax and furnishing of information relating to TDS
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 39/2013 New Delhi, the 31st May, 2013 S.O.1404(E) - In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of… Read More
Tags: Central Government, Gazette of India, Income Tax Act 1961, New Delhi, Reserve Bank of India, State Bank of India, Tax Deducted at Source, Taxation in India
Issuance of certificate for tax deducted at source in Form No. 16 as per provisions u/s 203
CIRCULAR NO. 04/2013 F.No 275/34/2011-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 17th April, 2013 Sub: Issuance of certificate for tax deducted at source in Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule… Read More
Tags: Comptroller and Auditor General of India, Director-general, Income tax, Income Tax Act 1961, New Delhi, Tax Deducted at Source, Taxation in India, TDS
Delay in filing TDS return through NSDL is a technical breach
CLR Editorial Notes: The Assessing Officer, in this case, had imposed a penalty u/s 272A(2)(k) for delay in filing the TDS return u/s 200(3) by the assessee. In the appeal argument given by the assessee, the delay was due to a shortage of staff. This was rejected on the ground of being an reasonable cause.… Read More
Tags: CIT, Cuttack, Filing (legal), Government, Income tax, NSDL, Tax, Tax Deducted at Source, TDS
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