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: VAT Audit :: form 3cd :: Central Excise rule to resale the machines to a new company :: TDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: cpt :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India
 
 
Direct Tax »
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBDT seeks suggestions on framing of rules on country-by-country reporting
 Is it the end of the road for tax havens?
 Government Collects Rs 3.86 Lakh Crore as Direct Tax Till September
 TDS IS PART OF SUM PAYABLE TO PAYEE and is trading liability- interest paid for delayed deposit of TDS is allowable expenditure
 Deductions Under Section 10b Of Income Tax Act, 1961 To Export
 CBDT signs 2 more APAs with taxpayers in September
 PM Narendra Modi seeks simpler rules to raise direct tax share from '07 low
  E-filing income tax return: How individuals can upload any ITR using excel utility

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 2017 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