What is TDS, Responsibilities of the Deductor and Procedure to pay TDS

Dos and Dont's for Depositing TDS / TCS Posted: 05 Dec 2011 07:57 PM PST Dos Use challan type 281 for deposit of TDS/TCS amount. Deductor should quote correct TAN, full name, address and current A.Y. on each challan. Deductor should use separate challan for different nature of payments quoting correct... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] What is TAN and Procedure for getting TAN Posted: 05 Dec 2011 07:36 PM PST Procedure for getting TAN : It can be obtained by filing an application in form no. 49B to any of the TIN facilitation Centres (TIN-FC) namely NSDL. Addresses of the TIN-FC as well as the forms can be downloaded from the website... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] What is TDS, Responsibilities of the Deductor and Procedure to pay TDS Posted: 05 Dec 2011 07:12 PM PST TDS is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a person at the time of making/crediting certain specific nature of payment to the other person and deducted amount is remitted to the... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] TDS defaults and Consequences (Penalties) Posted: 05 Dec 2011 07:00 PM PST Failure to deduct the whole or part of the Tax at source (non-deduction, short deduction or delay in deduction) 1. Failure to deposit whole or part of the TDS (non-deposit, short deposit or late deposit) 2. Failure to apply for TAN within the... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Banks, hospitals and other commercial activities cannot be carried out from plots developed for residential purpose – SC Posted: 05 Dec 2011 05:57 PM PST The Supreme Court today ruled that banks, hospitals and other commercial activities cannot be carried out from plots in Noida developed for residential purpose and ordered 21 banks and nursing homes in Sector 19 to immediately close their operations. [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Govt hopes to achieve indirect tax collection target of over 4 lakh crore for 2011-12 Posted: 05 Dec 2011 05:20 PM PST The government on Monday said it is confident of achieving indirect tax collection target of over 4 lakh crore for the current fiscal despite the slowdown in industrial activities. Chairman Central Board of Excise and Customs (CBEC) S K Goel told... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] IRS officer and CA wife on trial for 'disproportionate assets' Posted: 05 Dec 2011 06:13 AM PST A Delhi court has decided to put an IRS officer on trial along with his chartered accountant wife for allegedly owning assets exceeding his legal income, rejecting the woman's plea that the CBI has clubbed her income with that of her husband to... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Expected Future Revolution in Income Tax Posted: 05 Dec 2011 06:03 AM PST If we talk about 1970s ,80s or even 90s, than people at that time could not even have imagined about e-filing of their income tax return. With revolutionary changes in computer technology now efiling of various returns is very easy. In efiling... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] India to Host Fourth International Tax Dialogue Conference Posted: 05 Dec 2011 02:41 AM PST India is hosting the 4th International Tax Dialogue Conference (ITD) Global Conference on Tax and Inequality. More than 250 foreign delegates are expected to take part in this three day conference being held at Vigyan Bhawan from 7th to 9th... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] CBDt not to share data received under the DTAA with Germany with any other Agency Posted: 04 Dec 2011 10:43 PM PST it is clarified that the CBDT has not shared any information received under the DTAA with Germany regarding Indians having accounts in the LGT bank, Liechtenstein, with any other agency. The CBDT has also not authorised the use of the information... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Service tax on Port Services by Other Ports (Minor Ports) Posted: 04 Dec 2011 10:10 PM PST Port service means any service rendered within a port or other port, in any manner. Taxable service means any service provided or to be provided to any person, by any other person, in relation to port services in other port, in any manner. [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Service tax on Technical Inspection and Certification Services Posted: 04 Dec 2011 10:05 PM PST Technical Inspection and Certification Services means any service provided or to be provided to any person, by a technical inspection and certification agency, in relation to technical inspection and certification. "Technical Inspection and... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Service Tax on Internet Telecommunication Services Posted: 04 Dec 2011 10:00 PM PST Internet Telecommunication Services means any service provided or to be provided to any person, by any other person, in relation to internet telecommunication service; Internet means a global information system which is logically linked together by... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Service tax on Manpower Recruitment or Supply Agency's Services Posted: 04 Dec 2011 09:58 PM PST Manpower Recruitment or Supply Agency's Services means any service provided or to be provided to any person, by a manpower recruitment or supply agency in relation to the recruitment or supply of manpower, temporarily or otherwise, in any manner;... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Service tax on Internet Cafe Services Posted: 04 Dec 2011 09:52 PM PST Internet Cafe Services means any service provided or to be provided to any person, by an internet cafe in relation to access of internet; "Internet Cafe" means a commercial establishment providing facility for assessing internet; [[ This is a content summary only. Visit www.taxguru.in for full article. ]] An assessment of recent macroeconomic developments Posted: 04 Dec 2011 09:13 PM PST Thank you for inviting me to share my thoughts at the Annual CII CFO Summit. In recent weeks, the macroeconomic environment has become particularly turbulent. Global conditions have contributed to a significant rebalancing of portfolios as a result... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Farmers Support FDI in Retail Delegation of North Indian Farmers Meets Anand Sharma Posted: 04 Dec 2011 08:58 PM PST A large delegation of farmers from North India met the Union Minister of Commerce Industry and Textiles Shri Anand Sharma, here today, to register their support for the Government's decision to allow 51 per cent FDI in retail sector. The farmers... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Fictitious offers of cheap funds from abroad – Awareness Campaign – Registering complaints with Cyber Crime Cell/ Economic Offences Wing Posted: 04 Dec 2011 08:30 PM PST As you are aware, the Reserve Bank has on several occasions in the past, through public awareness campaigns, suitably cautioned the members of public not to fall pray to fictitious offers / lottery winnings/ offers of remittance of cheap funds in... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Exemption of Bhutan from the application of export bans by India on export of Milk Powder, Wheat, Edible Oils, Pulses and Non Basmati Rice Posted: 04 Dec 2011 08:30 PM PST Notification No 87 (RE – 2010)/2009-2014 - In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, as amended from... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Be Courteous to Public and Legislators – Government Directs Babus Posted: 04 Dec 2011 08:28 PM PST The Members of Parliament and State Legislatures as the accredited representatives of the people occupy a very Important place in our democratic set-up. In connection with their duties, they often find it necessary to seek information from the... [[ This is a content summary only. Visit www.taxguru.in for full article. ]]