Tag Archives: TDS

Online TDS / TCS Challan Correction : e- Tutorial

By | May 22, 2019

e-Tutorial Online Challan Correction Important Information on Online Correction All type of corrections like “Personal information , Deductee details and Challan correction” can be made using Online correction functionality available from FY.2007-08 onwards depending upon the type of correction This feature is extremely useful as it is : Free of Cost :TRACES does not charge… Read More »

No TDS u/s 195 on Commission paid to NR agents for export : ITAT

By | May 13, 2019

The assessing officer has disallowed the commission paid to foreign agents by holding that the income arising on account of commission paid to overseas agents was deemed to accrue or arise in India and was accordingly taxable under the provision of section 5(2)(b) r.w.s. 9(1)(i) of the act and the assessee has failed to make… Read More »

Form 24Q (Annexure II) :Revised Salary TDS Return : Tutorial

By | May 9, 2019

As per CBDTs Notification 36/2019, dated 12th Apr 2019 the format of TDS statement in Form No. 24Q, Annexure – II has been revised. The notification shall come into force w.e.f. 12th May 2019. The revised Form 24Q, Annexure – II has brought certain changes with regard to the reporting of transactions while filing the TDS statements.… Read More »

CIT(A) has no power to declare TDS return filed by assessee as not Valid: ITAT

By | May 8, 2019

CIT(Appeals) cannot travel beyond the subject matter of the appeal, which in the present case is as to, whether fee u/s. 234E of the Act can be levied or not; and not the question, whether the return of TDS filed by the assessee is non est in law? We are, therefore, of the view that the… Read More »

No Disallowance of Expenses for non deduction of TDS just because PAN of transporter not given to Income Tax dept. : ITAT

By | May 8, 2019

 In the instant case, once the assessee is in receipt of PAN and has not deducted TDS, it has complied with the first statutory obligation cast upon him and the assessee cannot be penalized for non-deduction of TDS. The provisions of section 40(a)(ia) which are deeming fiction relating to non-deduction of TDS have to be… Read More »

No TCS if Buyer declaration obtained for goods to be used for manufacturing : ITAT

By | May 8, 2019

” …………. if the buyer furnishes to the person responsible for the tax a declaration in writing in prescribed form declaring that the goods in question are to b e utilized for the purposes of manufacturing processor producing articles or things or for the purpose of generation of power and not for trading purposes. The… Read More »

Salary TDS certificate part B to be issued from TRACES portal: CBDT Notification No 9/2019

By | May 7, 2019

The Central Board of Direct Taxes (CBDT) has made it mandatory all deductors to issue the TDS certificate in Part B of Form no. 16 by downloading it through TRACES Portal. This will be applicable in respect of all sums deducted on or after April 1, 2018 under the provision of Section 192. CBDT Notification… Read More »

No TDS U/s. 195 on commission paid to USA based payee for services rendered outside India : ITAT

By | April 18, 2019

Non-resident company which did not have any permanent establishment India and the services by the said company was rendered outside India and such no services was rendered or no activity was performed in India   section 195 of the Act comes into play only if the concerned recipient’s income is chargeable to tax in India.… Read More »

TDS on Year End Provisions

By | March 22, 2019

TDS on Year End Provisions Here are the Relevant Judgments on TDS on year end Provisions under Income tax Apply TDS u/s 194J on provision for Audit Fees :ITAT Chennai No TDS liability on Provisions at year end if payee not identifiable : ITAT No TDS on GST Paid / Payable on Services if Shown Seprarately… Read More »