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The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) ruled that late fees under section 234E of the Income Tax Act,1961 for late TDS return filing shall not get levied before 01.06.2015. Mr. Hardik Chordia, CA appeared for the appellant and Dr. K Shankar Prasad appeared for the respondent. Karnataka Grameen Bank, the taxpayer […]
It is your problem if you forgot to file your tax within the due date i.e July 31, also CA would not be liable for that, pay attention to it along with the Form 16 bills and various other documents. Choosing a revision, these professionals who work more and are busy with the numbers and […]
Form 16 would be an essential document for the salaried class people. They assist the employees to find out the total taxes that would get deducted from their salary income, the gross salary which would be furnished in the fiscal year, tax-exempt allowances, and others. According to the income tax laws, a person should obtain […]
If a taxpayer has made an unintentional mistake while paying tax, there is a way to fix the challan details which have already been generated with the inaccurate data. It is very important because, In the presence of such errors, the taxpayers will not be able to get the tax credit. Before knowing the process […]
Throughout this post, we have discussed how you can quickly rectify errors using Gen TDS/TCS software. After furnishing the TDS return with NSDL one may see that there seems an error in the returns. The same error would be due to distinct causes such as wrong deductions wrong challan information or incorrect PAN details of […]
The assessee is provided with the lower tax refunds with respect to their claimed figures towards furnishing the ITR of FY 2020-21. The reason behind that is the latest income tax portal does not acknowledge the full tax credit available in Form 26AS towards these tax return filers. In this situation, the assessee would furnish […]
The income tax IT department secures the latest Annual Information Statement (AIS) on the compliance portal that furnishes a complete object of the details to the assessee with the facility to take online feedback. AIS is much more described in detail with respect to the previous Form 26AS that consists of effective details towards the […]
In this article, we have listed the best TDS software in India according to the reviews and ratings by professionals. This software can reduce the tax burden of Indian CAs (Chartered Accountants) and professionals along with error-less preparation of TDS compliance. List of Top TDS Return Software for CA and Professionals As mentioned in the […]
Let’s discuss more the form 16C and challan 26QC for deducting the TDS on rent. So as to draw a higher rental income group under the tax, the government in budget 2017 has incorporated a new section 194IB. Provision, the person and HUFs who file the rent of INR 50k or more shall need to […]
