Aug 31, 2014

TDS paid but no quarterly statement filed as yet

 As per the records of the Centralized Processing Cell (TDS), you have made payments for Tax Deducted, however, no TDS Statements have bee...

No TDS statement filed despite collecting deduction for FY 2013-14

Centralized Processing Cell (TDS) has observed from its records that you have not filed TDS Statements for Financial Year 2013-14, despite...

TDS statement filed in FY 2012-13 but not in FY 2013-14

As per the records of the Centralized Processing Cell (TDS), you have filed TDS Statements in FY 2012-13, however, no TDS Statements have ...

Aug 27, 2014

EPFO retain 8.75% interest on PF for FY 2015

The Employees' Provident Fund Organisation (EPFO) has decided to retain interest payment on provident fund deposits for 2014-15 at 8.7...

Determination of rate of exchange for service tax

Service tax department issued a notification no. 19/2014 dated 25 August 2014 about determination of rate of exchange for service tax. Ful...

Aug 26, 2014

Points to remember about income tax clubbing provision

The actual rule says one should pay taxes around the income earned. What taxpayers almost never know is that ‘income’ could be expanded to...

Aug 23, 2014

How to close TDS payment defaults using online correction facility

As you may be aware that at the time of filing TDS statements, it is mandatory to quote the challan particulars through which TDS payments...

Aug 21, 2014

Income tax forms 3CA 3CD in java format for AY 2014-15

The income tax department issued audit forms 3CA 3CD in java format for analysis year 2014-15 which will work both online and offline mode...

Income tax forms 3CB-3CD in java based utility AY 2014-15

The Income tax department issued Forms 3CB-3CD in java based utility which will work both offline and online mode. 3CB-3CD Audit rep...

New rules of loan against shares

At present, lending against shares carried out by NBFCs is not subject to specific instructions apart from the general prudential regulati...

Aug 20, 2014

Last date for furnishing audit report u/s 44AB has extended to 30 November 2014

Income tax department has extended the last date of furnishing audit report from 30 September 2014 to 30 November 2014 for assessment year...

Aug 19, 2014

Raising flag B in TDS statements against Form 15G/H for FY 2013-14

 As you may be aware that the depositors submit form 15G/H to the bank for no deduction of tax to be made on the interest payments made to...

Quoting AIN details in TDS statements

As per the records of the Centralized Processing Cell (TDS), it has been observed that the Accounts Office Identification Number (AIN) has...

Aug 15, 2014

Free ATM transaction of other bank reduced to three in 6 Metros

The number of Automated Teller Machines (ATMs), which stood at a little over 27,000 as at end-March 2007, has increased to over 1.6 lakh a...

Aug 12, 2014

89(1) arrears relief calculator for FY 2000-1 to 2014-15

Section 89(1) of income tax act gives relief in case of salary in arrears or salary received in advance. Sixth pay commission left a high ...

Aug 11, 2014

Online correction facility for TDS closures of short payment defaults

The Centralized Processing Cell (TDS), in its endeavour to enforce TDS Compliance, is shortly mandating closure of “Short Payment defaults...