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Income Tax Appellate Tribunal (ITAT) of Amritsar bench, engaged via M.L. Meera (Accountant Member) and Anikesh Banerjee (Judicial Member) kept the decision of the Commissioner of Income Tax (Appeals) National Faceless Appeal Centre (NFAC) for imposing the late fee on the taxpayer on filing Tax Deduction Source (TDS) late. The taxpayer furnished an appeal in […]
Simple Definition of the Form 15CA Form 15CA declares that a tax has been deducted from the payment made to an NRI. Instead of leaving the NRI taxpayers to file and pay income tax papers, this helps the Indian government collect tax efficiently at the time of the remittance. Different Components of Form 15CA Part […]
Simple Definition of File Validation Utility (FVU)? File Validation Utility, also known as the FVU facility, will allow you to validate your e-TDS/TCS return file. NSDL provides this utility as part of its services. The FVU verifies return files generated by deductors in accordance with prescribed formats. Using this utility, you can easily submit an […]
Simple Meaning of TDS Challan TDS challans are used to deposit TDS with the Indian government. There is only one challan that can be utilised for depositing taxes collected under each section of the Income Tax Act. Assessees who want to pay the TDS without a challan must deposit the TDS collected on the same […]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) removed the charge of late fees of Rs 40,000 concerning the period of the tax deduction before 1/06/2015. The two-member bench of Rahul Chaudhary (Judicial Member) and M. Balaganesh (Accountant Member) laid on the decision of Karnataka for the case of Fatehraj Singhvi Vs. Union […]
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 […]
