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: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT Audit :: TDS :: VAT RATES :: cpt :: due date for vat payment :: ACCOUNTING STANDARDS
 
 
News Headlines »
 Directions under section 119 of the Income-tax Act, 1961
 Securities excluded from GST ambit in revised Bill
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful

I-T Dept raps banks, local bodies on TDS
March, 23rd 2007
The Income-Tax Department has set its eyes on banks and local bodies for non-remittance of tax deducted at source (TDS) on interest on deposits (by the former) and on payments made to contractors (by the latter) to the Department.

As many as 50 banks and some panchayats that have failed to make the remittance in this region are under the scanner.

Speaking to newspersons on the annual performance of the Department in the Coimbatore, Erode and Nilgiris districts, the Chief Commissioner of Income-Tax, Mr O.P. Sachan, said that the banks cited shortage of manpower for this slip.

"They have neither deducted nor guided the recipients of interest properly. They have also failed to forward the forms - 15G and 15H - on time in a number of cases. We are sensitising the banks and initiating action against them. We have decided to impose a penalty of Rs 100 a day on the depositor for non-filing of these forms," he added.

Local bodies, especially panchayats, which have failed to remit the tax collected on payments made to contractors over the last couple of years, would also be pulled up. At least 500 panchayats have defaulted in this region, Mr Sachan said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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