TDS RULES

News

Condonation of delay in submission of Forms related to Chartered Accountants Regulations, 1988


The rules regarding Condonation of delay in submission of Forms related to various regulations of the Chartered Accountants Regulations 1988 Documents to be submitted in case of delay in submission of following Forms

Bank to obtain PAN or Form 60 for all Bank accounts


Income tax Rules amended to provide that bank shall obtain and link PAN or Form No 60 where PAN is not available in all existing bank accounts other than BSBDA by 28 02 2017 Income tax Rules have been amended to provide that bank shall obtain and link PAN or Form No 60 where PAN is not available in

Next Level of TDS Compliance in Year 2017


Dear Deductor Centralized Processing Cell TDS wishes you Seasons Greetings and a Very Happy New Year 2017 The past year witnessed a fantastic journey for CPC TDS in many ways with your valued partnership as our key stakeholders While we observed all round healthy improvement in TDS Compliance throug

Reporting Cash Transactions under Rule 114E of IT Rules, 1962


Rule 114E of Income Tax Rules 1962 for furnishing Statement of Financial Transactions SFT came into force with effect from 1st April 2016 Any person who is liable for audit under section 44AB of the Income Tax Act 1961 is required to furnish a statement in respect of transaction at serial no 11 of R

PMGKY 2016 scheme launched to remain open till 31st March


Taxation Laws Second Amendment Act 2016 came into force yesterday i e 15th December 2016 and rules notified today and placed in public domain The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 introduced under the said Act to commence from tomorrow i e 17th December 2016

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Experts Opinions

Minor income tds related


Minor Income from rent and having PAN now service receiver asking PAN no for TDS deduction should i need to provide my father PAN No or minor If Minor PAN then how to claim TDS

Tds on immovable property


TDS on immovable property is deductible only when there is transfer of property When the property is purchased directly from builder there are two documents executed between builder and purchaser One for transfer of land and other construction agreement to save the stamp duty I want to know on which

Tds


One Bill u s 194C of Rs 30000 dated 30 06 2016 of XYZ Ltd TDS not deducted and paid as bill not exceeds Rs 30000 Another Bill u s 194C of Rs 50000 dated 20 01 2017 of XYZ Ltd Query On which amount TDS should be deducted Whether it is on Only Rs 50000 or Rs 80000

Tds applicability for quality inspection @ outside india


TDS applicability for Quality Inspection Outside India

Tds


please help me initially i am paying rent to my tenant rs 15000 per month so limit us 194i i e 180000 will not exceed during the year But during i extended area of my place under the same tenancy correspondingly rent increases to rs 33000 per month from december now limit of rs 180000 will be crosse

Discussion

Minor tds claim

Minor having rent income and having his own PAN No Now service receiver asking to provide PAN no for TDS deduction So should I provide my PAN Father or minor If minor then how can i claim the TDS amount

Tds

One 194C bills of XYZ Ltdof Rs 30000 dated 30 06 2016 TDS not deducted and paid Second 194C bill of XYZ Ltd of Rs 50000 dated 20 01 2017 On what amount TDS should be deducted 50000 or 80000

Tds on director's remuneration

In a private limited company if there is a director whose remuneration is below the basic exemption limit of 250000 but income from other sources are above that limit then whether TDS needs to be deducted on the remuneration and how If the companytakes a stand that since the remuneration is below 25

Tds on finance charges (non bank)

Sir Finance charges on vehicle loan from non banks is liable to deduct TDS

Tds on transporter

Please tell me if I am paying to a transporter an amount exceeding threshold limit and I have received the declaration regarding less than 10 trucks then do I need to show that entry in the TDS return along with the tag TDS is not deducted due to declaration received Or alternatively I have to skip

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File Download

  • Removal of Name of the Company from Register of Companies

    Procedure under newly notified Companies Removal of Names of Companies from the Register of Companies Rules 2016
  • Income tax (1st Amendment) Rules, 2017

    Furnishing of Permanent Account Number or Form 60 as the case may be on or before 28th February 2017 is made mandatory for persons having an account with banking company or a cooperative bank to which Banking Regulation Act 1949 applies 15th January 2017 is the due date for submitting Form 61 where the aggregate of cash deposits between 9th November 2016 to 30th December 2016 is more than two lakh fifty thousand Government has mandated the specified class of persons under Rule 114E to report cash deposits made during the period 01 04 2016 to 09 11 2016 aggregating to an amount exceeding the limits as specified in Sl No 12 of Rule 114E Please find the attached PDF file for details
  • 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
  • Direct Tax Dispute Resolution Scheme 2016

    Rar Contains 1 Chapter X of Finance Act 2016 2 Rules Forms and 3 Circular 33 of 2016

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Articles

Place of Provision of Services Rules


Background The charging section 66B of finance Act provides for levy of service tax on value of all services provided or agreed to be provided in the taxable territory by one person to another unless they are covered in negative list Services being intangible practically it would have been difficult


Rules for interpretation of statutes


What is Interpretation of Statute The process of understanding expressions of the statute is called Interpretation of Statute The object of interpretation of statutes is to determine the intention of the legislature conveyed expressly or impliedly in the language used For thisrules which help to get


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


GST- Registration Form, Return, Payment, Invoice, Refund Forms as per GST Draft Rules


The filling and submission of Return is the most important requirements from the statutory angle This will play the vital role in between the Tax payer and Tax dept under GST The below are the summary of Forms Return Payment Forms Refund Forms Invoice Forms as per Draft Good and Service Tax Rules DR


Draft GST Rules and Forms - Key Takeaways


With enactment of 101st Constitutional Amendment Act the road to GST is clear On 26th September 2016 CBEC released draft rules and forms under GST on Registration Invoice and Payment GST Council has also approved of draft rules in its meeting held on 30th September 2016 Key takeaways of draft rules


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Updated on : 1/20/2017 3:57:12 PM


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