Employees responsibility regarding TDS on Salary

However The Income-Tax Act lay all responsibility on the employer for tax deduction at source at the time of payment of salary to employees whose salary income is above the maximum amount not chargeable to tax. The employer is required to deduct TDS on salary according to the provisions of income tax and deposit the […]

Due date for submission ITR-V for A.Y. 2012-13 and 2013-14 extended to 31.03.2014

Due date for submission ITR-V Notification for Extension of date for receipt of ITR-V in CPC, Bengaluru, for the cases of AY 2012-13 and 2013-14 received/e-filed in FY 2012-13- Reg. There are many taxpayers who have uploaded their Income Tax Returns (without digital signature Certificate) for A.Y. 2012-13 [filed between 1.4.2012 to 31.10.2013] and for […]

Duty of Person deducting TDS If Found Short Payment or Mismatch of Challan

Duty of Person deducting TDS If Found Short Payment or Mismatch of Challan Since a many days CPC (TDS) sending notices to deductors. One of the reason for the same is Short Payment of TDS and other one is wrong Permanent Account Number. In view of the close of the month approaching fast, you are […]

A Bird View on Excise Duty on Job Works

A Bird View on Excise Duty on Job Works Under Provisions of Exemption to Excise Duty on Job Works under Notification No.214/86 assessee engaged in manufacturer on job work basis, he has to pay duty on material cost plus job charged. However, if a product covered under MRP provision is manufactured on job work basis, […]