Please note the following due dates for the month of Apr-15: 7 April 2015 Due date for deposit of Tax deducted under Section 194-IA in the month of March, 2015 7 April 2015 Due date for deposit of Tax collected for the month of March, 2015 (except u/s 194-IA) 22 April 2015 Due date for…
On 20th Apr-2015, NSDL has released new RPU utility for e-TDS/ TCS returns for F.Y. 2007-08 onwards. Key features of this utility are: Quoting of PAN of responsible person for deducting/ collecting tax. Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e., through transfer voucher. Quoting of BIN mandatory only…
CBDT has notified ITR-1, ITR-2, ITR-4S and ITR-V for AY 2015-16. There are several charges in the forms. Important charges are listed below. Individual who has any income from source outside India in AY 2015-16 cannot file ITR-1 & ITR-4S. Super Senior citizen can now file ITR in paper form even if income is more…
CBDT has increased the transport allowance to INR 1600/- per month from 800/- per month as announced in Finance Budget, 2015. Notification no. 39/2015 dt. 13-04-15 has been released by CBDT which is given below and can also be downloaded from here. Google Plus Google CommunityFacebookTwitter
As per Section 234A, interest is chargeable for on late filing of Income Tax Return. This interest is charged on Total Tax Liability as reduced by TDS/ TCS, Advance tax, any relief u/s 90 & 90A, any deduction allowed u/s 91 and tax credit allowed under section 115JAA and 115JD.Since self assessment tax is not…
CBDT (Central Board of Direct Taxes) in its notification no. 38/2015 [F.No.142/15/2013-TPL] / SO 995 dt. 10th Apr-15 has allowed companies to apply for new PAN and TAN in Form no. INC-7. A Company which has not registered under the Companies Act, 2013, can now apply for new PAN & TAN in form no. INC-7 specified…
Govt. of India vide its Notification No. 33/2015 [F.No.142 /14/2014-TPL] / SO 915(E) dt. 1st Apr-2015 has extended the time limit for Roll Back in respect of APA where the application has been filed on or before 31st Mar-15. Form No. 3CEDA in respect of these applications may be filed by 30th Jun-2015 or date…
Individual resident aged below 60 years/ HUF/ AOP/ BOI/ Artificial Judicial Person Income Income Tax Rate Where the taxable income does not exceed INR 2,50,000/-. NIL Where the taxable income exceeds INR 2,50,000/- but does not exceed INR 5,00,000/-. 10% of amount by which the taxable income exceeds INR 2,50,000/-. Where the taxable income exceeds…
In Post Office, any individual with age more than 60 years can invest in Senior Citizen Savings Scheme (SCSS). SCSS gives better returns than other investment options. 80C deduction is also available on this deposit. Silent features of this scheme is as follows: From 1st Apr-2015, interest rates is 9.30% per annum. This is highest interest…
Income Tax Dept. on Tuesday released list of defaulter. These defaulters have not paid crores of taxes to Income Tax Dept. All the defaulters is having tax liability of more than 10 crores individually. Total tax liability of these 18 defaulters comes to more than 500 crores. Following are the name of these entities: S.…