TDS Certificate Forms 16 & 16A Changed by CBDT!

UPDATE!

From 1/4/2009 , the rule regarding deposit of tax ,issuing certificate and reporting through returns have been changed .As such the form 16 & 16A have been changed by CBDT vide this notification        and also new Form 17 has been introduced for depositing the tax deducted at source.

The new Form 16 , 16A [...]

Which Tax Return Form Should Be Used In Case Of One Time Counsltancy Fee Receipt!

I have income from pension and interest only. But I have one casual income for the year ending 31-3-2009, a one-time consultation fee for service rendered from a private company. What IT form should I use now? Earlier years, I had used ITR 1.R.V.Ramachandran , Banglore

ITR-4 is used by person receiving income from “business or [...]

What Are The Tax Benefits to Winners of Galantry Awards?

I am an army officer who has been awarded Sena Medal for Gallantry. I am in active service, what kind of tax benefits/exemptions do I get. Please tell me the authority, act etc which I can quote to the relevant authorities. 
Abhishek Singh, Delhi 

Sena Medal is  an Indian Military decoration which is awarded to members of the [...]

CBEC Clarifies What is Export of Service For The Service Tax Purpose By A Circular!

Confusion on the “Service of Exports ” have been tried to be clarified by CBEC through a circular dated the 24th February, 2009 stating that the relevant factor is the location of the service receiver and not the place of performance . Read the circular given below

F.No.137/307/2007-CX.4 (Pt.)

Government of IndiaMinistry of FinanceDepartment of [...]

CBDT Extends Dates For Claiming Higher Depreciation Benefits on Commercial Vehicle Purchase!

It was reported earlier on this blog CBDT Notifies Enhanced Depreciation and Changes Due Date For Filing Quarterly Statements of TDS in Case Of Non Residents .

Now the Central Board of Direct Taxes have issued a notification vide S.O. 989(E) dated 21st April 2009 (NotificationNo.37/2009/F.No.142/01/2009-TPL) to this effect, substituting the words “1st day [...]

How To File TDS Return Without Sufficient Numbers of PAN of Deductees?

As per instructions issued by the Central Board of Direct Taxes (CBDT), it is mandatory for deductors to file TDS/TCS statements with a threshold limit of Permanent Account Number (PAN) of deductees. ReadPAN Percentage FOR TDS/TCS Return Enhanced!
NSDL has put following solution for overcoming problem in filing TDS returns because of insufficiency of PAN [...]

Download Return For Assessment Year 2009-10

The New return Forms ITR-1, ITR-2, ITR-3, ITR-4, ITR-5 ,ITR-6, ITR-7,ITR-8 and Acknwledgment for Assessment year 2009-10 have been notifed and now can be downloaded. For this reason, you should not use the old forms valid for Assessment Year 2008-09 . Download the forms from below:

ITR-1 [...]

How To Verify Tax Payment Status Through SMS?

Now the status of tax payments through challans can be verified through SMS. This facility has been launched by NSDL. The procedure of verifying the tax through SMS is as under

The tax payer can send an SMS to 575758 with a message containing the word CSI followed by a space and CIN provided by the [...]

Can Exemption u/s 54F Be Claimed For Buying Two Adjacent Flats Joined By Breaking Internal Wall?

I plan to buy two adjacent flats in Mumbai. These two flats are already joined by breaking-down the internal wall between these flats. As these two flats are in the name of two different people (spouse of each other) there would be two sale agreements. The source of the funds to buy these two flats [...]

Is Payment To Travel Agent Requires TDS To Be Made?

Will TDS be deducted from the payment to be made to the travel agent for the contract to be made with the travel agent ? CA BHARATKUMAR GOVINDBHAI PATEL , Ahmedabad
TDS us/ 194C required to be made if there is a contract between Specified Person and a contractor for doing a Work where the [...]

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