Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: due date for vat payment :: form 3cd :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: VAT RATES :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TDS
 
 
News Headlines »
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know
 Filing of GST return
 Why cement companies are going in for M&As
 Govt moves to rework direct tax law after PM’s nudge
 New offer available for filing tax returns online, how to avail
 Draft Goods And Services Tax Return Rules, 20--
 How to file tax return as a representative of someone

Filing lower TDS? Get ready for a call from I-T
October, 04th 2007
Individuals trying to evade taxes by getting a lower tax deducted at source may soon get a call from the tax collector. The finance ministry is planning to crack the whip on those trying to conceal their income and evade taxes through the system of tax deduction at source (TDS).

The Central Board of Direct Taxes (CBDT) has mooted a proposal to strengthen the penal provisions against such people. The ministry is planning to introduce cash penalties as well as initiate legal proceedings and prosecute those it finds guilty of evading taxes through TDS.

In addition, it is also set to permit evoking section 131 of the Income Tax Act, which gives the power to summon the person, investigate and enquire into his income, and impound and retain account books and documents of the person.

Official sources said that the proposal is at present being whetted by the law ministry, and it is likely to be implemented in coming months.

As another part of this initiative, the CBDT has also written to all state finance ministers and state chief secretaries that there should be a quarterly deduction of TDS, instead of the current practice of book adjustments. States are now expected to timely credit their TDS collections to the Centres account.

These steps would be in line with a number of measures the CBDT has already taken this fiscal to strengthen and restructure its TDS machinery. It has created 12 new TDS commissionerates and a director to monitor them in its efforts to strengthen the TDS mechanism.

It has also begun audits of many government departments, such as railways and defence, where TDS collection is low to find out the causes for this.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions