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Cabinet approves Implementation of the recommendations of 7th Central Pay Commission

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the implementation of the recommendations of 7thCentral Pay Commission CPC on pay and pensionary benefits It will come into effect from 01 01 2016 In the past the employees had to wait for 19 months for the implementatio

New TDS/TCS RPU and FVU versions released

Due date for filingQuarterly TDS TCS statement for Q1 April to June of FY 2016 17 isJuly 31 2016for all the categories of Deductors Collectors Do submit quarterly TDS TCS statement on or before due date to avoid late filing fee under section 234E of Income Tax Act In order to locate the nearest TIN

Simplification of procedure for Form 15G and 15H

F No DGIT S CPC TDS DCIT 15GH 2016 174539 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income tax Systems New Delhi Notification No 1 2016 Dated 09th June 2016 Subject Simplification of procedure for Form No 15G 15H Clarifications rag The existing provisions o

CBDT will pay interest on refund for excess TDS deposited

Payment of interest on refund under section 244A of excess TDS deposited under section 195 of the Income tax Act 1961

Advisory for TDS on purchase of immovable property

CPC TDS Advisory for Deposit of Tax deducted and Demand for TDS Defaults with respect to Purchase of Immovable Property 26QB Statement cum challan The Centralized Processing Cell TDS provides important tips for the convenience of Taxpayers who have executed any transaction for Purchase of Immovable

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Experts Opinions


hello dear friends and experts Our partnership firm may cross its turnover of One Crore in F Y 2016 17 In F Y 15 16 our turnover was 80 00 000 What my question is When I should deduct TDS Can we apply for the TAN in this financial year itself or can we go for next year


what is TDS How it is different from tax calculated at end of GTI Basic exemption wala

Refund of tds

if return of the F Y 15 16 submitted online on 31st mar 2016 itself and refund of lesser amount of tds claimed while the actual amount of tds refundable is more and the amount claimed for in the return has been received what is the remedy to claim the remaining amount of tds kindly assisst


Respected Sir Madam My company have been paying Amount to Phonographic Performance Ltd Rs 100000 Service Tax 14500 My question is whether TDs is to be deducted or not from such payment


Dear sirs I would like to work as a tds consultant For that any procedure or permission to be got from income tax authorities and I would like to know how some Enterprises like Integrated or NSDL persons upload TDS returns without obtaining digital signature from the owner whereas a staff of a organ


Tds on property sale for nris

Hi I am an NRI and recently sold an apartment in India for 95lakhs It was in my and my wifes name Buyer had taken a loan of 90lakhsfrom Bank Bank paid me 45 lakhs and now I am supposed to pay a TDS of Rs19 57 000 on sale price of 95L before they release another 45 lakhs I am supposed to reclaim as r


I have received provident fund from my company in July 2016 but they have cut TDS this is not reflecting in the view tax credit if this is not reflecting in the view credit can i still claim this TDS deducted when i am filling returns next year even if it not reflecting Please Advise t


Accouunting Charges paid to Mr A 15000pm is TDS deductible in this transaction

Salary tds calculation with deduction limit ay 2017-18

Dear Friends how to calculate the salary TDS for the FY 2016 17 with all the deduction limit 80 C to 80 U kindly share me the excel file to me it will be most help me to calculate the Salary TDS from my employees

Tds deducted

when I pay my emi on Bajaj Fin Crop will I deduct TDS or not

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Transporters: Whether liable to TDS u/s 194C on Furnishing of PAN?

There were certain amendments which were made in Section 194C 6 by Finance Bill 2009 Amendment made at that time was as follows The Small Transport Operators as defined in Section 44AE of Income Tax Act 1961 not owing more than 10 goods carriages at any time during the year were not liable to TDS u

Farmers free to "sale" Commission agent / Traders in TDS "trail"

Arjuna Fictional Character Maharashtra Government has changed the working system of farmers Commission agents as well as traders What are the consequences of this in relation to income tax Krishna Fictional Character Arjuna India is agriculture oriented country For getting fair market prices and cus

Complexibility of TDS on Employees

Dear friends I want to share some problems being faced by accountants in the industry who administer TDS on employees of their employers organization U s 192 of Income Tax Act specified employer is required to deduct tax on salaries allowances paid to its employees on average rate of tax payable the

TDS on sale of property @1% under Section 194IA

TDS on sale of property The buyer of an immovable property land flat apartment shop or a bungalow which is valued at Rs 50 lakh or more is required to pay a withholding tax to the government The prevailing withholding tax is deducted at source and is 1 of the consideration payable to the seller It i

An analysis on TDS

For a layman TDS or TAX is very cumbersome to handle and the afraid of various procedures regarding it So in this article I have tried to point out in a very simple and lucid manner to understand it TDS was deducted on Bank Fixed Deposit interest if such interest exceeds Rs 10000 per year But the me

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Updated on : 9/24/2016 3:30:15 PM




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