Category Archives: Income Tax

CBDT Circular on TDS from salaries during FY 2018-19 u/s 192. : CIRCULAR NO 01 /2019

By | January 3, 2019

CBDT Circular on TDS from salaries during FY 2018-19 u/s 192. : CIRCULAR NO 01 /2019 DEDUCTION OF TAX AT SOURCEINCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2018-19 NEW DELHI, the 1 st January, 2019 Download CIRCULAR NO 01 /2019 Click here Read / Download CIRCULAR NO… Read More »

New Income Tax News 31.12.2018

By | December 31, 2018

New Income Tax News 31.12.2018 New Income Tax News GST and Income Tax Compliance Calendar for January 2019 : Due Dates (updated) Why you should file belated Income Tax Return (ITR) before December 31 CBDT Circular for Explanatory Notes to Finance Act 2018 : Circular No 08/2018 Download/Print How to Verify TDS Certificate of Income… Read More »

How to Verify TDS Certificate of Income Tax online टीडीएस सर्टिफिकेट घर बैठे कैसे वेरीफाई करें

By | December 28, 2018

How to Verify TDS Certificate of Income Tax Deductee can verify TDS Certificate (16/16A) with the help of “Verify TDS Certificate” option available at TRACES. • Verification of TDS certificate enables Taxpayer to verify whether the deducted tax has actually been received by the Government or not. • TDS Certificates (16/16A) can be verified from… Read More »

CBDT Circular for Explanatory Notes to Finance Act 2018 : Circular No 08/2018 Download/Print

By | December 27, 2018

Explanatory Notes to the Provisions of Finance Act 2018 CBDT has issued circular on the Explanatory Notes to the Provisions of the Finance Act, 2018. The Finance Act, 2018 as passed by the Parliament, received the assent of the President on the 29th day of March, 2018 and has been enacted as Act No. 13 of 2018. The circular… Read More »

Extension of due date for furnishing report u/s 286 (4) of Income-tax Act 1961 

By | December 27, 2018

Extension of due date for furnishing report u/s 286 (4) of Income-tax Act 1961 Extension of the due date for furnishing of report u/s 286 (4) of the Income-tax Act 1961 by constituent entity. Circular  No. 9/2018 F No 370142/17/2018 -TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New… Read More »

How to Convert Form 26AS Text File to Excel File

By | December 26, 2018

Converting Form 26AS Text File to Excel File •Tax Payer can view/download 26AS from TRACES from A.Y 2009-10 onwards . 26AS is available for download from https://tdscpc.gov.in Zip file will be downloaded Extract the Text file :-Password to open for Form 26AS in PDF/Text Format is “ Date of Birth of Taxpayer“ in DDMMYYYY format. Where… Read More »

Password Formats for Income Tax

By | December 26, 2018

Password Formats for Income Tax Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Conso File download from Traces website Password for Justification Report download from Traces Password for Form 16/16A/27D/TBR download from Traces Password for Intimation received through Email from Traces Password to open Form 16B Password to open… Read More »

Password Format for Registration on TDS CPC Portal – Traces

By | December 26, 2018

Password for Registration on TDS CPC Portal – Traces Following is the password format for registration on https://tdscpc.gov.in Password must contain a minimum of 8 alpha numeric characters with at least one capital letter. It is applicable for all users i.e. Deductor and Taxpayer. Example Special Characters allowed:  space, ‘, &, “, comma, ; It… Read More »

Password for Intimation received through Email from Traces

By | December 25, 2018

Password for Form 16/16A/27D/TBR download from Traces Password Format : First Four Letters of TAN_Date of Filing of Regular Statement ( Date should be in the format of DDMMYYYY) Example : AAAA_01012011 Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Conso File download from Traces website Password for Justification… Read More »

Password for Form 16/16A/27D/TBR download from Traces

By | December 25, 2018

Password for Form 16/16A/27D/TBR download from Traces Password Format : TAN in capital letters Example :AAAA11111A Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Conso File download from Traces website Password for Justification Report download from Traces Password to open Form 16B Password to open Form 26AS Password to open… Read More »

Password for Justification Report download from Traces

By | December 25, 2018

Password for Justification Report download from Traces Format: JR_TAN_FormType_Quarter_FY for a statement processed by TRACES. Example : JR_AAAA11111A_24Q_Q3_2010-11 For the Statements processed prior to Oct’12 , password will be Regular Statement ‘s Token Number. Example : 123456789123564 Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Conso File download from Traces… Read More »

Password to open Conso File download from Traces website

By | December 25, 2018

Password to open Conso File download from Traces website Password Format : TAN_ Download Request number Example :  AAAA11111A_23456 Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Form 16B Password to open Form 26AS Password to open Income Tax Refund Payment Advice Password to open intimation letter/ justification report… Read More »

Password to open Form 26AS

By | December 25, 2018

Password to open Form 26AS Enter your Date of Birth to open Form 26AS of Income Tax downloaded from traces website tdscpc.gov.in Date of Birth  (In DDMMYYYY format) Example 01012011 Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Form 16B Password to open Income Tax Refund Payment Advice Password to… Read More »

Manual Filing of application for Low TDS Certificate u/s 197 & 206C for NRI and Resident Applicants allowed

By | December 25, 2018

Ministry of Finance Exception from Online Filing of Application under Section 197 and 206C (9) in the cases of NRIs and Resident Applicants Posted On: 24 DEC 2018 The Central Board of Direct Taxes (CBDT) has decided to allow exception from online filing of application under Section 197 and 206C (9) in the cases of… Read More »

No reassessment to disallow employee’s PF contribution since disclosure was made in Tax Audit report : HC

By | December 24, 2018

Held Kelvinator of India Ltd. It has held that, after April 1, 1989 the assessing officer invoking the provisions of Section 147 of the Act of 1961 must have tangible material to come to the conclusion that, there was escapement of income from assessment. Reasons must have a live link with the formation of the belief.… Read More »

Everything Wives Should Know About Alimony

By | December 22, 2018

Everything Wives Should Know About Alimony No matter how hard we may try, we often find ourselves facing the reality that there is no one size fits all for successful marriages. Currently in America, about 40% to 50% of marriages end in divorce. With divorce comes plenty of paperwork, emotional hardship, and financial discord. If… Read More »

CBDT allowed to admit belated application in Form No 9A and Form No 10 : Circular 7/2018

By | December 21, 2018

CBDT authorizes CIT u/s 119(2)(b) to admit belated applications in Form No. 9A and Form No.10 in respect of AY 2016-17-Circular 7/2018 Circular No. 7 / 2018 F.No.197/55/2018-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi 20th December  , 2018 Sub:  Condonation of delay under… Read More »

Advance salary received by employee during demonetization is not benami transaction

By | December 20, 2018

APPELLATE TRIBUNAL FOR PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, NEW DELHI T. Raja v. K. Visakh JUSTICE MANMOHAN SINGH, CHAIRMAN FPA/PBPT/30, 31, 53, 55, 59, 60, 63 (CHN) OF 2018 OCTOBER  31, 2018 Anirudh Bakhru and Sudhir Chandra, Advs. for the Appellant. Anish Dhingra, SPP for the Respondent. JUDGMENT   1. By this Order, I propose to decide the above-mentioned seven appeals… Read More »

Section 43B disallowance under Income Tax Act

By | December 20, 2018

Section 43B disallowance under Income Tax Act Section 43B of Income Tax Act : Certain deductions to be only on actual payment. Judgments on Section 43B of Income Tax Act No reassessment to disallow employee’s PF contribution since disclosure was made in Tax Audit report : HC No Deduction for Delayed Payment of employees contribution of… Read More »

Late Fees & Penalty for delay in filing TDS/TCS Statements under Income Tax

By | December 20, 2018

LATE FILING FEES AND PENALTY FOR FAILURE TO FURNISH/DELAY IN FURNISHING THE TDS/TCS STATEMENTS [As amended by Finance Act, 2018] Before understanding the penalty provisions for failure to furnish the statement of Tax Deducted at Source or statement of Tax Collected as Source (i.e. commonly known a TDS/TCS return) we shall first have a look at… Read More »