Tag: TDS
CBDT issues Guidelines / FAQs on TDS u/s 194S on transfer of a virtual digital asset (VDA) applicable from 1st July 2022 Circular No. 13 of 2022 F. No. 370142/29/2022-TPL (Part-I) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) …
CBDT guidelines / FAQs on TDS u/s 194R for providing any benefit or perquisite to a resident CBDT has issued Circular No. 12/2022 detailing guidelines / FAQs on applicability of TDS u/s 194R for providing any benefit or perquisite to a resident w.e.f 01.07.2022 Finance Act 2022 inserted …
TDS not applicable on payment of bank guarantee commission to bank listed in second schedule to RBI Act as there is no element of agency ABCAUS Case Law CitationABCAUS 3580 (2022) (02) ITAT Important case law relied referred:Kotak Securities Ltd. Vs. DCIT 18 taxmann.com 48 (Mum.) TDS not …
Prosecution for late deposit of TDS after 11 months. Once there was a non-deposit, necessary consequences shall follow including prosecution- Supreme Court ABCAUS Case Law CitationABCAUS 3564 (2021) (12) SC In the instant case, the assessee had wiled a Writ Petition to challenge the sanction letter for prosecution …
TDS/TCS on non filer of Income tax returns at higher rates. New Section 206AB and Section 206CCA inserted by Budget 2021-22 TDS/TCS on non filer of ITRs at higher rates Presently, Section 206AA of the Income Tax Act 1961 provides for higher rate of TDS for non-furnishing of …
TDS on payment of certain sum for purchase of goods-New Section 194Q inserted by Budget 2021-22 TDS u/s 194Q on purchase of goods It is proposed to provide for TDS by person responsible for paying any sum to any resident for purchase of goods. The rate of TDS …
CBDT Guidelines on applicability of TDS u/s 194-O(4) and TCS u/s 206C 1-H from 01.10.2020 F. No.370133/22/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) **** Circular No. 17 of 2020 Dated: 29th September, 2020 Sub.: Guidelines under …
CBDT notifies revised Form 15C-Application by banking company/insurer for certificate u/s 195(3) for receipt of interest and other sums without deduction of tax MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 75/2020-Income Tax New Delhi, the 22nd September, 2020 G.S.R. 574(E).- In exercise of the powers …
Due date for furnishing return of Income (ITR) for AY 2019-20 extended to 30.09.2020 Due date for furnishing return AY 2019-20 extended MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 56/2020 New Delhi, the 29th July, 2020 TAXATION AND OTHER LAWS S.O. 2512(E).–In exercise of …
Chart of extended due dates for filing of TDS / TCS returns etc. due to Covid-19 Pandemic Revised Due dates for TDS / TCS compliances Nature of compliance Original Due Date New due dates Filing of TDS/TCS Statement Form 24Q, 26Q, 27Q and 27EQ of Q4 of FY 2019-20 31-05-2020 …
