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: due date for vat payment :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: cpt :: VAT RATES :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: form 3cd :: VAT Audit :: empanelment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4%
Direct Tax »
  CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 CBDT unveils norms for computing FMV of trust assets
 CBDT starts issuing second round of Certificates of Appreciation to tax payers
 Income Tax Department Launches SMS Alert Service on TDS Deductions
 Salaried taxpayers to get SMS alerts for TDS deductions
 Salaried tax payers to get SMS alerts on TDS deductions
 Mumbai zone direct tax collection flat in H1 FY17
 CBDT issues final rules for taxing share buy back by companies
 CBDT issues final rules for taxing share-buyback
 The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
 IDS is tremendous success: CBDT chief Rani Singh Nair

Telcos under I-T scanner for alleged tax breach: Sources
August, 09th 2011

Faced with a stiff annual direct tax target, the taxman is leaving no stone unturned to rake in the moolah from India Inc.

CNBC-TV18's Ashwin Mohan now learns that revenue authorities have now detected alleged TDS violations by leading telecom operators.

According to the stance taken by the I-T department, the discount earned by the telecom distributors and agents on sale of prepaid SIM cards and recharge coupons is in the nature of commission and hence it attracts 10% TDS. However, the telcos have disagreed saying that TDS should not be deducted.

Sources say, with three High Court judgments in their favour, the I-T department has recently conducted surveys on telecom majors Tata Tele and Vodafone. These surveys are on the basis of non-deduction of TDS on the sale of SIM cards and recharge coupons.

Now, the department is examining company records starting FY10. Sources say the total TDS liability, including the interest, is currently being finalized and a report is likely to be sent to the Finance Ministry.

Remember, there are larger implications to this operation because similar surveys are likely to be conducted on other telcos in other jurisdictions in India.

Now, as far as official comments are concerned, Vodafone has said that the survey was conducted and information was given by them to the I-T department, however, Tata Tele has declined to comment.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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