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: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: VAT RATES :: empanelment :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT Audit :: cpt
 
 
Latest Circulars »
 Export Data Processing and Monitoring System (EDPMS) Issuance of Electronic Bank Realisation Certificate (eBRC)
 Auction for Sale (Re-issue) of Government Stock (GS)
 RBI-Auction of Government of India Dated Securities September 18, 2017
 RBI releases Handbook of Statistics on the Indian Economy 2016-17
 Sources of Variation in Foreign Exchange Reserves in India during April-June 2017
 Inclusion of “Emirates NBD Bank (P.J.S.C)” in the Second Schedule to the Reserve Bank of India Act, 1934
  Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission
 Shri Rajiv Kumar, Secretary, Department of Financial Services, nominated on RBI Central Board
 RBI-Monthly Bulletin for September 2017
 DRG Study No. 43: Some Macroeconomic Impacts of Different Types of Public Expenditure in India - Analysis Using a Computable General Equilibrium Model
 Alteration in the name of "National Bank of Abu Dhabi PJSC" to "First Abu Dhabi Bank PJSC" in the Second Schedule to the Reserve Bank of India Act, 1934

Deductors must comply with their obligations to ensure correct credit to persons from whose income tax is deducted at source
July, 11th 2012
                                                                     "15"
                                                                pib.nic.in
                    PRESS INFORMATION BUREAU
                      GOVERNMENT OF INDIA
                               *****

   DEDUCTORS MUST COMPLY WITH THEIR OBLIGATIONS TO
 ENSURE CORRECT CREDIT TO PERSONS FROM WHOSE INCOME
             TAX IS DEDUCTED AT SOURCE

                                            New Delhi: Ashadha 19, 1934
                                                           July 10, 2012

     All deductors other than Government deductors must file their
quarterly TDS statement for the quarter ending 30th June 2012, on or
before 15th July 2012 and Government deductors must file their
statement on or before 30th July 2012. While submitting their
statements, the deductors have to choose correct and relevant form,
quote correct PAN against all entries and ensure that correct CIN/BIN is
quoted in the TDS statement. Non-quoting of PAN or TAN in TDS
statements or delay in filing of TDS statements may lead to levy of
penalty.

      Filing of TDS statement with correct PAN and CIN/BIN is
important because under Rule 37BA of Income Tax Rules, 1962 credit for
tax deducted at source is given to the deductees on the basis of TDS
statement furnished to the Income-tax Department by the deductor.
Filing of TDS statements with incorrect PAN or other details of the
deductee would, therefore, cause inconvenience to the deductees
(taxpayer).

      In case the income on which tax has been deducted at source is
assessable in the hands of a person other than the deductee, the
deductee must file a declaration with the deductor that credit for the TDS
shall be given to the other person and not to the deductee. The
declaration filed by the deductee must contain the name, address,
Permanent Account Number of the person to whom credit is to be given
and reasons for giving credit to such person. The deductor must, in the
TDS statement, report the tax deduction in the name of such other
person and also issue the TDS certificate in the name of the person in
whose name credit is shown in the TDS statement.

      TDS certificates for deductions on income other than salary income
(Form 16A) for the quarter ending 30th June 2012 should be issued on or
before 30th July 2012.


                                    *********
DSM/SS/GN
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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