tds exemption

News

New TDS RPU and FUV utility released


New versions of e TDS TCS Return Preparation Utility RPU and File Validation Utilities FVUs are applicable from February 23 2017 onwards and available at https www tin nsdl com etds etcs eTDS download regular php 1 RPU Version 1 9 Java based For preparing and validating e TDS TCS Statement s and als

New Benefits announced for NPS Subscribers in Union Budget 2017-18


In a bid to provide further impetus to the National Pension System NPS the following provisions have been introduced in the Finance Bill 2017 laid down in the Parliament today Tax exemption to partial withdrawal from National Pension System NPS The existing provision of section 10 12A of the Income

Strengthening of PAN quoting mechanism in the TCS regime


Statuary provisions for deduction of tax at source TDS at higher rate of 20 or the applicable rate whichever is higher in case of non quoting of Permanent Account Number PAN is provided under section 206AA of the Act and it exist since April 2010 PAN acts as a common thread for linking the informati

TDS rates reduced to 2% u/s 194J for call center business


Simplification of the provisions of tax deduction at source in case Fees for professional or technical services under section 194J The existing provisions of sub section 1 of section 194J of the Act inter alia provides that a specified person is required to deduct an amount equal to ten per cent of

Exemption for audit of accounts u/s 44AB increased to Rs 2 crore


The existing provision of section 44AB of the Act inter alia provides that every person carrying on the business is required to get his accounts audited if the total sales turnover or gross receipts in the previous year exceeds one crore rupees The threshold limit for applicability of presumptive ta

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Experts Opinions

TDS intimation u/s 200A


Whether TDS return filed at Incometaxindiaefiling gov in is issuing the intimation u s 200A just like when we filed return to TDS intermidiary and then intimation is being sent by TDS CPC

Long term capital gains exemption 2017


Dear experts Had the below query for which i need your advice My mother has land plot in her name bought in 1996 in Tamil Nadu She plans to transfer the plot as a gift deed to me in Feburary 2017 I plan to sell the same land plot in April May 2017 The income from the sale i plan to invest in any of

Tds on salary


Dear Sir My query is suppose an employee get salary of Rs 65000 per month I just want to know what amount of TDS deduct on his monthly salary What amount should pay the employer to his employee that month

Tds on on interest component of compensation awarded


I was awarded compensation of Rs 13 00 000 lakhs with interest 6 pa Insurance Company challenged the said award and the compensation was upheld by the High Court Rs 13 00 000 plus interest of about Rs 6 lakhs was deposited by the insurance Company in November 2016 However Insurance Company has effec

Interest on tds


If there is short payment of TDS in suppose Q2 then I pay the same in Q3 My question is do I need to show the same in my Q3 return or do I need to revise my Q2 return

Discussion

Tds under 400

I made a payment of interest for late payment of tds on salary on 24 02 2016 I tried to seek the challan status in Traces but this payment is not reflected in traces Please advice if there is a normal time delay and also whether this is the place to check the status of a tds challan

Penalty on late filing of tds return.

Is penalty amount challan details mandatory to be shown while filing return after due date I f no then reason for the same

Refund of unclaimed tds of ay 2013-14

Tds of assesse e g Rs 100 has been deducted twice Rs 100 2 200 for same transaction by one company in AY 2013 14 But assesse has claimed taken credit only once Rs 100 in that AY Balance tds not claimed till date Now my query is how can it be claimed Can we ask refund by filing current years ITR or w

Online reconciliation of tds

I have deposited tds for December 16 on 7th January 2017 through online but by mistake in TDS qtrly return I have showed it on 7th January 2016 in place of 7th January 2017 IT dept raised it as defaulter How can it would be solved to clear the defaulter

Exemption of ca iit programme in cma inter computer programm

CA ITT programme exemption available in CMA inter Computer programme plz suggest me thanks

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File Download

  • For CA/ CS/ CMA_DT Final_Series 2_FinanceBudget2017 Analysis

    The file contains Decoding of Finance Budget 2017 with Key Analysis and Practical Illustration Series 2 by Anuraag Singhaal CA 2005 CPA 2008 For any further clarification you can reach out at anuraagsinghaal outlook com India Finance Budget 2017 Analysis alongwith Examples In Series 2 following sections where amendments are proposed in India Finance Budget 2017 are analyzed The amendments are analyzed alongwith illustrations Capital Gains on sale of unlisted shares by non residents Section 112 Exemption of income of Chief Minister s Relief Fund or the Lieutenant Governor s Relief Fund Section 10 23C Correct reference to FEMA instead of FERA Section 10 4 Tax exemption to partial withdrawal from National Pension System NPS Section 10 12B Rationalisation of deduction for NPS for self employed individual Section 80CCD Restriction on set off of loss from House property Section 71 3A Reason to believe to conduct a search etc not to be disclosed Section 132 132A Power of provisional attachment and to make reference to Valuation Officer to authorised officer Section 132 Rationalisation of the provisions in respect of power to call for information Section 133 Extension of the powers to survey Section 133A
  • GST - Levy of and exemption from tax

    GST Levy of and exemption from tax
  • Tax Deduction from Salaries-192 CBDT Circular for FY 2016-17

    The CBDT has issued Circular No 01 2017 dated 02 01 2017 in which it has explained in a comprehensive manner the obligation of taxpayers with regard to deduction of tax at source from salaries under section 192 of the Income tax Act 1961 for the financial year 2016 17
  • TDS and TCS under revised GST Law

    TDS and TCS under Revised GST law
  • Service Tax Exemption notification as amended till date

    This contains the amended version of Mega Exemption notification with all changes being indicated from the original version

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Articles

Budget 2017 - Amendments in mega exemption notification at a glance


Although the Finance Minister said in its speech while presenting the Union Budget 2017 that I have preferred not to make many changes in current regime of Excise Service Tax because the same are to be replaced by GST soon But still some changes have been made in the Service Tax Law Out of these cha


Mega exemption on construction of single residential unit and its sub contract work


A MEGA EXEMPTION FOR CONSTRUCTION OF SINGLE RESIDENTIAL UNIT Introduction Food clothing and shelter are the basic necessities of human life As a social incentive measure the Government has granted exemption from service tax in respect of services by way construction of a single residential unit if i


TDS controversies - Top 25 rulings pronounced in 2016


Dear All We have another 6days for the wonderful year 2016 and as Sam Levenson say Dont watch the clock do what it does and Keep going Over the years the judicial forums have pronounced immense tax litigation involving issues pertaining to TDS I was just trying to recollect which ruling on TDS I sho


Tax Exemptions - A tool to generate black money & corruption


Dear professional friends In view of tax reforms under process through GST Companies Act 2013 demonetization and Income Tax provisions under review to curb black money and corruption in general I can say that Objective of Govt is good and will prove its worth in due course but some basic change in t


Withdrawal of Service tax exemption on cross border B2C online services


Withdrawal of Service tax exemption on cross border B2C online information and database access or retrieval services w e f December 1 2016 At present the services received in taxable territory from outside the taxable territory by Government a Local Authority a Governmental Authority or an individua


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Updated on : 2/25/2017 3:09:08 AM


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