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 […]
Double Taxation Relief If anybody earns income which suffers tax outside india, the Income Tax Act has the provision of relief from such double taxation. The relevant provision are contained in section 90 and section 91 of the I T Act.
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 […]
Are You Taking TDS Lightly ? In this post I want to discuss some provisions which make it clear that we should not take TDS lightly and we should take extra care about payment of TDS and filing of TDS Returns,because it makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, […]
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 […]
Income tax saving investment options As this financial year is going every person want to minimize his or her tax liability through Income tax saving investment options,but in hurry time most of the person forget all the option available to save the tax ,some the option is available is given here :-
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, […]