Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: form 3cd :: due date for vat payment :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: TDS :: list of goods taxed at 4% :: VAT Audit :: empanelment :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
General »
 While filing tax in India, NRIs do not have to report overseas assets
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
 SH. VISHWA NATH GUPTA Vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL, KANPUR AND ANR.
 No tax scrutiny of big transaction if it matches income
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
  Home loan tax reliefs often missed by taxpayers
 Income tax department launches online facility for linking Aadhaar and PAN
 Home loan tax reliefs often missed by taxpayers
 Tax headache in India is a bonanza for global accounting firms
 Activities To Be Treated As Supply Even If Made Without Consideration Under CGST ACT
  Haryana Goods and Services Tax Bill passed

I-T dept queries
January, 15th 2010

Serious lapses on the part of the accounts department of the Margao Municipal Council (MMC) in maintaining TDS (tax deducted at source) records has landed the chief officer Prasanna Acharya in the dock.

Responding to a summons issued by the income tax department over the matter, Acharya on Wednesday personally appeared before the income tax officials and submitted his explanation.

Acharya, when contacted, confirmed that the IT department had issued a summons to him over irregularities in the TDS records, but sought to downplay the issue.

I personally appeared for the hearing at the income tax office on Wednesday. There is no issue at all. The accounts department had failed to maintain records of TDS receipts in the format prescribed by the IT department and they wanted an explanation, Acharya told TOI, adding that it was not a goof-up by the accounts department. I have inquired with the accounts department.

Though the TDS receipts were being deposited regularly with the income tax department, the issue was about maintaining proper records, Acharya said. Sources in the municipality, however, said that the laxity on the part of the accounts department resulted in the embarrassing situation.

The TDS records are not being maintained properly for the last two and half years. When the IT team came for inspection recently, the accountant failed to give satisfactory replies to their queries.

As the chief officer functions as the drawing and disbursing officer, the income tax department issued summons to him, a MMC source informed. Sources in the IT department, however, said that the matter was a routine inquiry.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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