CBDT Circular on Using Challan for more than one Sections

For Deductor’s convenience, CPC (TDS) has established processing logic in the system that can accept a Single Challan for reporting of Tax Deposited in following circumstances : 1. Payment of Tax Deducted under different sections […]

Online filling of Form 15G and 15H

Considering ease of use and as a part of Digital India, CBDT has simplified the procedure for filing of Form 15G & 15H, by putting it online. Form15G and 15H are self-declaration forms required to be […]

Circular No 723 dated 19/9/1995 – TDS on Foreign Transporters

SECTION 172  SHIPPING BUSINESS OF NON-RESIDENTS Tax deduction at source from payment made to foreign shipping companies Representations have been received regarding the scope of sections 172, 194C and 195 of the  Income-tax Act, 1961, […]

Notification No. 02/2016 – Refund of the Swachh Bharat Cess paid

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 02/2016-Service Tax  New Delhi, the 3rd February, 2016  G.S.R.….(E).– In exercise of the powers conferred by sub-section (1) of section 93 of the Finance […]

Know your VAT Dealer TIN

Verify VAT TIN Number of your Dealer. Just paste TIN number of your VAT Dealer and get registration details. While filling VAT Return, it is very essential to verify TIN number of all the party […]

How to Claim TDS if not reflecting in Form 26AS

At the current time, many of the Individual Assesses are in hurry to file their income tax return with Income tax department to avoid any consequences for non compliance regarding filling timely ROI. However, while […]

Service tax on Ocean Freight

As we discussed TDS liability on Ocean Freight in previous article, it is obvious question of service tax liability on Ocean Freight. However, there are no much dispute on applicability of Service tax on Ocean […]

TDS on Ocean Freight

Applicability of TDS Provisions for Ocean Freight basically depends upon Status of Transporter, weather Resident or Non Resident. As in case of Resident, Provisions of Section 194C of the Income tax Act, 1961 will apply […]

Notification No. 2/2016 regarding Electronic Assessment

Yes, Days are not far where Income tax Assessment will be done on Electronic Media and will not have any manual or department’s personnel’s interference. Link to Download Notification from Official Website of Income tax, […]

Time Limit under Various Sections under Income tax Act

Due Date is having very much importance to adhere with adequate statutory compliance in timely manner. Time Limit under Various Section under Income tax Act is as given below in tabulated format. Section Compliance Time […]