Income Tax Department has declared good news for Taxpayee who are payable tax
and those who have not own PAN till filing TDS or Income Tax Return i.e. penalty
is deleted. In this regard Income Tax Department has decided that
Non-availability of PAN of payee-customer was a reasonable cause for belated
filing of TDS return; penalty deleted. Before this on non-submission of PAN, Tax
is to be deducted @ higher of prescribed rate or 20%. as per the recent
amendments W.e.f 01/04/2010.
Subscribe to:
Post Comments (Atom)
India-Mauritius DTAA Protocol Notified: Key Tax Implications
The Government of India has notified the amendment to the Protocol of the India-Mauritius Double Tax Avoidance Agreement (DTAA) on 13 Oct...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
Key features of File Validation Utility (FVU) version 3.3 FVU 3.3 will be applicable for quarterly TDS/ TCS statements pertaining to...
-
CIT vs. The Instalment Supply Ltd (Delhi High Court) The assessee bought 1614 items of computer systems for Rs.40 lacs from HCL Hewlett ...
-
01. TDS u/s 194J is required to be done for Royalty also w.e.f 13-7-2006. 02. Royalty had been defined under explanation 2 of se...
-
Facts The applicant („A‟) is a closely held Public Limited company incorporated in India in the year 1953. A‟s shareholder included A (...
-
In a recent informal guidance letter, SEBI clarified whether a cousin of a Promoter Group member qualifies as a person ‘related to promote...
-
Until now, 'Samaritans' is not how the Independent Directors are purported by Clause 49 in the Listing agreement. An Independ...
-
SREI Infrastructure Finance Ltd vs. ITSC (Delhi High Court) The assessee entered into a scheme of arrangement u/s 391-394 of the Compani...
-
Facts Centrica India Offshore Private Limited (CIO), an Indian Company, is a wholly owned subsidiary of Centrica Plc, UK Centrica Plc a...
No comments:
Post a Comment