What if Employer refuses to issue TDS Certificate / Form 16

What if Employer refuses to issue TDS Certificate / Form 16 Posted: 20 Apr 2012 10:55 PM PDT The employee has a right to obtain the TDS certificate in form 16 from his employer. The certificate details should be filled in return of income, since no credit for TDS can be given without it. In case your employer fails to issue the TDS certificate, he shall be liable to a penalty of Rs. 100/-... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Advance Tax Provisions, Payment Challan & e-payment Utility Posted: 20 Apr 2012 10:43 PM PDT It's time to pay the next installment of advance tax for the financial year 2010-11. The deadline for payment of this installment of advance tax is December 15. According to the Income Tax Act, assessees are required to pay tax in advance in a previo [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Bonus stripping – Way to Save tax Posted: 20 Apr 2012 10:36 PM PDT In bonus stripping, investors buy shares of companies which have announced bonus issues, and subsequently, sell the original holding at a loss once the stock becomes ex-bonus. This loss can be adjusted against their capital gains on other holdings. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Consequence of not having PAN Posted: 20 Apr 2012 10:21 PM PDT Consequence of not having PAN - PAN is not restricted to people who are above the age of 18 or citizens of India. Every individual who has a source of income and files income-tax returns or intends to enter financial transactions in India requires PA [[ This is a content summary only. Visit my website for full links, other content, and more! ]] TDS on Bank Interest – Things to Know Posted: 20 Apr 2012 10:15 PM PDT 1. Interest earned on bank deposits is subject to tax deducted at source (TDS) if the total interest amount in a financial year exceeds Rs 10,000. 2. Interest earned on term deposits is subject to TDS. However, interest earned on savings account bal [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Interest & Remuneration to Partners U/s. 40(b) Posted: 20 Apr 2012 10:11 PM PDT Section 40(b) of Income Tax Act places some restrictions and conditions on the deductions of expenses available to an assessee assessable as a partnership firm in relation to the remuneration and interest payable to the partners of such firm. The deductions regarding salary to partners and any... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Deduction U/s. 80U for disabled persons Posted: 20 Apr 2012 09:43 PM PDT The Income Tax Act, 1961 provides deduction u/s. 80 in pursuance of which an individual (Indian citizen and foreign national) who is resident of India, and who suffers from not less than 40 per cent of any disability is eligible for deduction to the [[ This is a content summary only. Visit my website for full links, other content, and more! ]] What's better- Trust, Society or s.25 Company? Posted: 20 Apr 2012 09:31 PM PDT One can set up either a public charitable trust, a registered society, or a Section 25 Company (a trust corporation). Each has its own advantages and constraints. If a person wishes to set apart either property or money for a charitable purpose so that the income may be devoted in perpetuity for... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Know case status pending at HC on Mobile Posted: 20 Apr 2012 09:30 PM PDT How to get the case status? The litigant or the lawyer who sends the SMS should know case number of the case for which the case status to be known and then he/she should follow the steps given below for sending the SMS. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Income Tax Benefits on Various Plans of LIC Posted: 20 Apr 2012 09:29 PM PDT 1) Deduction allowable from Income for payment of Life Insurance Premium (Sec. 80C). (a) Life Insurance premia paid in order to effect or to keep in force an insurance on the life of the assessee or on the life of the spouse or any child of assesse [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Failure to pay advance tax attracts interest Posted: 20 Apr 2012 09:24 PM PDT Advance tax, as the name suggests, is nothing but taxes paid in advance on the estimated annual income. Advance tax, along with tax deducted at source (TDS) and self-assessment tax, constitute the three means by which income taxes are collected by th [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Tax benefits for senior citizens Posted: 20 Apr 2012 09:12 PM PDT 1) The Income Tax Act identifies a senior citizen as a person who is 65 years of age or more at any time during the previous year. It provides for special benefits for such persons. 2) As per the IT Act, senior citizens who have an income up to Rs [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Due date for uploading of MVAT Returns Posted: 19 Apr 2012 09:24 PM PDT The Payment date for Quarter or month ending March 2012, is 21st April, 2012 and for Six-month ending March 2012 is 30th April, 2012. The Return due date for the dealers who are liable to file VAT Audit and the non-audit dealers who have opted for composition (other than works contractors and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]