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e-TDS/TCS RPU 3.5 & FVU 3.8 (Ver.) for A.Y. 2014-15 applicable w.e.f. 01.07.2013.

TDS Deductors, New RPU 3.5 (Ver.) and New FVU 3.8 (Ver) for submission of TDS Quarterly Statement has been launched by TIN-NSDL for Asstt. Year 2014-15. This RPU and FVU is applicable w.e.f. 01.07.2013 with lot of amendments. In the below Key Features shows all these new amendments to clarify TDS/TCS Deductors difficulties. Therefore, TDS/TCS Deductor read carefully all these amendments features regarding filing of Quarterly Statement for Asstt. Year 2014-15. 


Key features of RPU 3.5
Addition/ deactivation of fields Change in quarterly TDS/TCS statement pertaining to FY 2013-14 onwards as below: Alternate contact details like e-mail and contact no. of the deductor and responsible person may be provided. Quoting of TAN registration no. (if any) as provided by TIN. Minor head code is to be provided in challan details for tax deposited through challan. Late fee is to be provided in challan details applicable from FY 2012-13 onwards. No details to be provided for cheque no. and section code in the challan details. Section code to be provided in deductee/collectee details. Introduction of new section code Form no. 24Q: Section 92C has been added which is applicable in case payment is made to Union Govt. employees. Section 194I has been bifurcated as below: Select value 4IA from the section code drop down where tax has been deducted under section 194I (a) Select value 4IB from the section code drop down where tax has been deducted under section 194I (b) Lower/ No deduction certificate no. to be provided in the deductee details. In the annual salary details (24Q, Q4 – Annexure II) break up to be provided for the salary paid and the tax deducted by the current employer and previous employer during the current Financial Year. Introduction of fields for quoting foreign remittance details in Form no. 27Q as below: Nature of remittance Whether TDS rate of TDS is IT act (a) and DTAA (b) Unique acknowledgement of the corresponding form no 15CA (if available) Country to which remittance is made Introduction of value “Z” in the field Remarks for lower or no deduction. Applicable in case of no deduction on account of payment under section 197A (1F). In the annual salary details (24Q Q4 – Annexure II) records to be highlighted whether the tax has been deducted at higher rate. Quarterly TDS/TCS statement (regular and correction) can be filed only for FY 2007-08 onwards. Discontinuation of “Y” type of correction statement. RPU version 3.5 is applicable w.e.f 01/07/2013.

Free Download New RPU 3.5 Ver. For Asstt. Year. (Click Here)
Key feature of FVU version 3.8
Change in data structure of quarterly TDS/TCS statement pertaining to FY 2013-14 onwards as below: Alternate contact details like e-mail and contact no. of the deductor and responsible person may be provided. Quoting of TAN registration no. (if any) as provided by TIN. Minor head code is to be provided in challan details. Late fee is to be provided in challan details applicable from FY 2012-13 onwards. No details to be provided for cheque no. and section code in the challan details. Section code to be provided in deductee/collectee details. Introduction of new section code Form no. 24Q: Section 92C has been added which is applicable in case payment is made to Union Govt. employees. Section 194I has been bifurcated as below: Select value 4IA from the section code drop down where tax has been deducted under section 194I (a) Select value 4IB from the section code drop down where tax has been deducted under section 194I (b) Lower/ No deduction certificate no. to be provided in the deductee details. In the annual salary details (24Q, Q4 – Annexure II) break up to be provided for the salary paid and the tax deducted by the current employer and previous employer during the current Financial Year. Introduction of fields for quoting foreign remittance details in Form no. 27Q as below Nature of remittance Whether TDS rate of TDS is IT act (a) and DTAA (b) Unique acknowledgement of the corresponding form no 15CA (if available) Country to which remittance is made Introduction of value “Z” in the field Remarks for lower or no deduction. Applicable in case of no deduction on account of payment under section 197A (1F). In the annual salary details (24Q Q4 – Annexure II) records to be highlighted whether the tax has been deducted at higher rate. Discontinuation of “Y” type of correction statement. FVU version 3.8 is applicable w.e.f 01/07/2013.

Free Download FVU 3.8 Ver with Key Features and Extract File

D.A. for Pre-Revised Scale as per 5th CPC 5% w.e.f. 01.01.2013


Payment of Arrears of Dearness Allowance to State Government employees - Pre-revised scale as per 5th cpc from 1.1.2013 to 30.4.2013.
The Maharashtra Government Employee or Pensioners/Family Pensioners those who could not avail revised 6th CPC their Dearness Allowance is increased by 12% from 139% to 151% w.e.f. 01.07.12 and 166% Dearness Allowance is applicable from 01st Jan-2013 as per Government Resolution dated 29th June, 2013. The increased Dearness Allowance of 5% arrears from 01.01.13 to 30.04.13 will be paid in Cash.

The Maharashtra State Government has proposed to pay the Cash arrears amount immediately to the Employees under Unrevised Pay Scale.

The proposed allotment of the arrears in Cash will be applicable to all those employee with the calculated differences. As per the decision of the Government the cash benefit will be availed taking into consideration the norms and the conditions of the concerned employee.

Government Resolution of 166% DA (Click Here)

Exemption of Medical Benefits on Treatment in Hospital to Taxpayer.


77[Exemption of medical benefits from perquisite value in respect of medical treatment of prescribed diseases or ailments in hospitals approved by the Chief Commissioner.
3A. (1) 78[In granting approval to any hospital other than a hospital for Indian system of medicine and homoeopathic treatment for the purposes of sub-clause (b) of clause (ii) of the proviso to sub-clause (vi) of clause (2) of section 17], the Chief Commissioner shall satisfy himself that the hospital is registered with the local authority and fulfils the following requirements, namely :—
   (i)  The building used for the hospital complies with the municipal bye-laws in force.
  (ii)  The rooms are well ventilated, lighted and are kept in clean and hygienic conditions.
 (iii)  At least ten iron spring beds are provided for patients.
 (iv)  At least one properly equipped operation theatre is provided, with minimum floor space of 180 square feet and with a separate sterilisation room.
  (v)  At least one labour room is provided, with minimum floor space of 180 square feet, in case the hospital provides medical service for maternity cases.
 (vi)  Aseptic conditions are maintained in the operation theatre and the labour room.
 (vii) A duty room is provided for the nursing staff on duty.
(viii) Adequate space for storage of medicines, food articles, equipments, etc., is provided.
  (ix) The water used in the hospital or nursing home is fit for drinking.
   (x)  Adequate arrangements are made for isolating septic and infectious patients.
  (xi)  The hospital is provided with and maintains :—
(a)  high pressure sterilizer and instrument sterilizer;
(b)  oxygen cylinders and necessary attachments for giving oxygen;
(c)  adequate surgical equipments, instruments and apparatus including intravenous apparatus;
(d)  a pathological laboratory for testing of blood, urine and stool;
(e)  electro-cardiogram monitoring system;
(f)  stand-by generator for use in case of power failure.
(xii) There is at least one qualified doctor available on duty round the clock for every twenty beds or fraction thereof.
(xiii) In hospitals providing intensive care unit facilities, there are at least two qualified doctors available on duty round the clock exclusively for such intensive care unit.
(xiv) One nurse is on duty round the clock for every five beds or a fraction thereof.
(xv)  In hospitals providing intensive care unit facilities, there are at least four nurses provided exclusively for every four beds or fraction thereof for such intensive care unit.
(xvi) The hospital maintains record of health of every patient containing information about the patient's name, address, occupation, sex, age, date of admission, date of discharge, diagnosis of disease and treatment undertaken.
79[(1A) In granting approval to any hospital for Indian system of medicine and homoeopathic treatment for the purposes of sub-clause (b) of clause (ii) of the proviso to sub-clause (vi) of clause (2) of section 17, the Chief Commissioner shall satisfy himself that the hospital fulfils the conditions specified vide Office Memorandum dated the 6th June, 200280, by the Department of Indian Systems of Medicine and Homoeopathy, Ministry of Health and Family Welfare for approval of private hospitals for Indian system of medicine and homoeopathic treatment to Central Government Health Scheme beneficiaries and Central Government employees.]
(2) For the purpose of sub-clause (b) of clause (ii) of the proviso to 81[sub-clause (vi) of] clause (2) of section 17, the prescribed diseases or ailments shall be the following, namely :—
(a)  cancer;
(b)  tuberculosis;
(c)  acquired immunity deficiency syndrome;
(d) disease or ailment of the heart, blood, lymph glands, bone marrow, respiratory system, central nervous system, urinary system, liver, gall bladder, digestive system, endocrine glands or the skin, requiring surgical operation;
(e)  ailment or disease of the eye, ear, nose or throat, requiring surgical operation;
(f)  fracture in any part of the skeletal system or dislocation of vertebrae requiring surgical operation or orthopaedic treatment;
(g) gynaecological or obstetric ailment or disease requiring surgical operation, caesarean operation or laperoscopic intervention;
(h)  ailment or disease of the organs mentioned at (d), requiring medical treatment in a hospital for at least three continuous days;
(i)  gynaecological or obstetric ailment or disease requiring medical treatment in a hospital for at least three continuous days;
(j)  burn injuries requiring medical treatment in a hospital for at least three continuous days;
(k) mental disorder - neurotic or psychotic - requiring medical treatment in a hospital for at least three continuous days;
(l)  drug addiction requiring medical treatment in a hospital for at least seven continuous days;
(m) anaphylectic shocks including insulin shocks, drug reactions and other allergic manifestations requiring medical treatment in a hospital for at least three continuous days.
Explanation : For the purpose of this rule,—
(a)  "qualified doctor" means a person who holds a degree recognised by the Medical Council of India and is registered by the Medical Council of any State;
(b)  "nurse" means a person who holds a certificate of a recognised Nursing Council and is registered under any law for the registration of nurses;
(c)  "surgical operation" includes treatment by modern methodology such as angioplasty, dialysis, lithotropsy, laser or cryo-surgery.]

Furnishing of authorisation and maintenance of documents etc. for the purposes of section 94A


S.O. 1856(E)   In exercise of the powers conferred by sub-section (3) of section 94A read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1.  (1)   These rules may be called the Income-tax (8th  Amendment) Rules, 2013.
    (2)   They shall come into force on the date of their publication in the Official Gazette.

2.  In the Income-tax Rules, 1962 (hereafter referred to as the principal rules), -
  
(a) after rule 21AB, the following rule shall be inserted, namely:-

“Furnishing of authorisation and maintenance of documents etc. for the purposes of section 94A.
21AC (1) For the purposes of clause (a) of sub-section (3) of section 94A, the authorisation to be submitted by the assessee, shall be in Form No. 10 FC. (2) The assessee shall cause the first  copy of the duly filled Form No.10FC to be eposited with  or transmitted to the financial institution referred to in clause (a) of sub-section (3) of section 94A.

(3)  The second copy of the Form No. 10FC  along with the  evidence of the first copy of said Form having been deposited or transmitted to the financial institution shall be  submitted  by the  assessee to the Assessing Officer having jurisdiction over him.

(4)   For the purpose of ensuring that the authorisation in Form No.10FC is legally enforceable, the assessee shall take all necessary steps as are required under any law for the time being in force in India or outside India.

(5) For the purposes of clause (b) of sub-section (3) of section 94A, the assessee who has entered into a transaction  with a person located in a notified jurisdictional area (hereinafter referred to as the specified person) shall, in addition to information and documents referred to in sub-rule (1) of rule 10D, keep and maintain the following information and documents, namely:—
    (a) a description of the ownership structure of the specified person, including name and address of individuals or other entities, whether located in the notified jurisdictional area or outside, having directly or indirectly more than ten per cent. shareholding or ownership interests;
    (b) a profile of the multinational group of which the specified person is a part along with the name, address, legal status and country of tax residence of each of the enterprises comprised in the group with whom the assessee has entered into a transaction, and ownership linkage among them;
    (c) a broad description of the business of the specified person and the industry it operates in;
    (d) any other information, data or document, which may be relevant for the transaction with the specified person.

(6) The information and documents specified in sub-rule (5) shall be for the period upto the due date of filing of return of income under sub-section (1) of section 139.

(7) The information and documents specified in sub-rule (5) shall be kept and maintained for a period of eight years from the end of the relevant assessment year.”;

Read more about Furnishing of authorisation and maintenance of documents etc. for the purposes of section 94A.

Income Tax reminders on way to 12 lakh assessees for not filing returns


NEW DELHI: Tightening its noose on those who do not pay taxes, the Income Tax Department has started sending letters around 12 lakh assessees who are high spenders but do not file returns, a top finance ministry official said.

"The I-T department has started follow up of around 12 lakh assessees who have not filed their returns despite being high spenders," the official told PTI.

The department had earlier issued letters to 1.75 lakh high priority assessees for not filing tax returns.

Finance Minister P Chidambaram had met top I-T officials yesterday to discuss ways to augment revenue collection and widen the tax base.

The tax department has prepared a list of non-filers based on their information records.

The department has set up a compliance management cell to monitor return filing and tax payment of the target segment.

The 1.75 lakh letters which were sent earlier, contained the summary of the information of financial transaction(s) along with a customised response sheet.

The finance ministry officials had verified the record of annual information return (AIR), Central Information Branch (CIB) and TDS/TCS returns.

Besides, they had also verified data available with the Financial Intelligence Unit (FIU).

These letters were a part of the exercise to augment revenue undertaken by Chidambaram after he assumed charge of the Finance Ministry in August last year.

Many assessees have started filing returns after receiving letters from the tax department.

The government plans to collect over Rs 6.68 lakh crore from direct taxes in the current fiscal, up from Rs 5.65 lakh crore in the previous fiscal.

Source:  The Times of India

Refund Banker & Other Refunds, How to Check with TIN?

Refund Banker

The 'Refund Banker Scheme,' which commenced from 24th Jan 2007, is now operational for Non-corporate taxpayers assessed in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Bhubaneswar, Ahmedabad, Hyderabad, Pune, Patna, Cochin, Trivandrum, Chandigarh, Allahabad, and Kanpur.

In the 'Refund Banker Scheme' the refunds generated on processing of Income tax Returns by the Assessing officers/ CPC-Bangalore are transmitted to State Bank of India, CMP branch, Mumbai (Refund Banker) on the next day of processing for further distribution to taxpayers.
    Refunds are being sent in following two modes:
  1. RTGS / NECS: To enable credit of refund directly to the bank account, Taxpayer.s Bank A/c (at least 10 digits), MICR code of bank branch and correct communication address is mandatory.
  2. Paper Cheque: Bank Account No, Correct address is mandatory.
Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker - by entering 'PAN' and 'Assessment Year' below.

Other Refunds

Status of 'paid' refund, being paid other than through 'Refund Banker,' can also be viewed at www.tin-nsdl.com by entering the 'PAN' and 'Assessment Year' below.

'Refund paid' status is also being reflected in the 'Tax Credit Statements' in Form 26AS.

Easy Steps & Details Required while for Registration Form.


While Registration of PAN or TAN by Tax Payee or TDS Deductor a little details are required for Registration Form.  TAN registration required three easy stemps and PAN registration it requires 2 easy steps with two simple options.  For smooth registration Taxpayee and TDS Deductor must do the following steps.

FOR TAN (TDS Deductors)
Step–1

  • TAN of Deductor

Step–2

  • Token Number of the regular statement corresponding to the Financial Year, Quarter and Form Type displayed on screen.
  • Challan details of one particular CIN which has been mapped to at least three deductee rows. If there is no such challan, please enter details of challan having maximum number of deductee rows

Step–3

  • PAN of Deductor
  • PAN of Authorised Person (person responsible for deduction of tax at source)
  • Date of Birth of Responsible Person as in PAN database
  • Designation of Responsible Person
  • Communication Address
  • Mobile Number
  • Email Id
FOR TAN (Taxpayers)
Step–1

  • PAN of Tax Payer
  • Date of Birth as on PAN Card
  • Name as in PAN database
  • Option 1 – Details from Form 26AS or salary slip (in case of salaried persons). Provide TAN of deductor who has deducted TDS / TCS, month & year of deduction and amount of tax deducted.
  • Option 2 – Details of any tax paid by you. Provide Assessment Year for which payment was made by you, Challan Serial Number of the challan using which payment was made and amount as per the challan

Step–2

  • Communication Address
  • Mobile Number
  • Email Id

Free Download ITR-5 Annual Income Tax Return Utility For Asstt. Year 2013-14

Income tax department has published Income Tax Return Form ITR-5 as Excel Utility for Assessment Year 2013-14. Earlier Income Tax Department has already published ITR-1(SAHAJ), ITR-2, ITR-3, ITR-4 and ITR-4S(SUGAM) Forms as Excel Utility as well as in PDF format for the Assessment Year 2013-14.

These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 

Assessment Year for which this Return Form is applicable
    This Return Form is applicable for assessment year 2013-2014 only, i.e., it relates to income earned in Financial Year 2012-13. 

Who can use this Return Form?
    This Form can be used a person being a firm, LLPs, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) shall not use this form. 

Annexure-less Return Form
   No document (including TDS certificate) should be attached to this Return Form. All such documents enclosed with this Return Form will be detached and returned to the person filing the return. Tax-payers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement (Form 26AS). (Please refer to www.incometaxindia.gov.in) 

Manner of filing this Return Form
   This Return Form can be filed with the Income Tax Department in any of the following ways, -
  • by furnishing the  return in a paper form;
  • by furnishing the return electronically under digital signature;
  • by transmitting the data in the return electronically and thereafter  submitting the verification of the return in Return Form ITR-V;
  • by furnishing a Bar-coded return. 
However, a firm whose accounts are liable to audit under section 44AB shall compulsorily furnish the return in the manner mentioned at (ii) above. Where the Return Form is furnished in the manner mentioned at 4(iii), the assessee should print out two copies of Form ITR-V.  One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bangaluru–560100 (Karnataka). The other copy may be retained by the assessee for his record.

Download ITR-5 For Asstt. Year 2013-14


Download other Income Tax Return Form for Asstt. Year 2013-14 or (Click Here)

Common Mistakes in Filling of Income Tax Return (ITR) Form - Asstt. Year- 2012-13

Reasons for mistakes in calculation of Income.The accurate and complete filling up of the relevant  column or detail in the Income Tax Return (ITR) form is most crucial for correct calculation of income. In case the computation of Income or refund is different than what had been entered or what is  expected, please verify the accuracy of the data entered by you in the ITR.

Except for limited number of complicated tax returns, for most taxpayers, the simple check points are  the following:
  • Salary from all employers, irrespective of whether Form 16 has been issued or not, should be  entered in Item 1 of ITR 1 or details in Schedule Salary in ITR 2.
  • Interest income from fixed deposits, savings bank account etc should be entered in Item 3  viz. Income from other Sources of ITR 1 or Schedule OS-Income from Other Sources in all  other ITR's.
  • House Property Income. Schedule HP should be filled carefully including the address  details. Income from House Property should be entered in Item 1a viz. Annual letable value/  rent received/ receivable. Municipal taxes paid should be entered in Item 1c viz. tax paid to  local authority in Schedule HP-Income from House Property.
  • A flat deduction of 30% of the amount in Item 1e is the only deduction permissible for  repairs and such expenses will be auto-populated in Item 1f of Schedule HP.
  • Deduction for Interest on housing loan should be entered in Item 1g viz. Interest  payable on Borrowed Capital and is restricted to Rs 1,50,000 for 'Self Occupied'  house. Therefore, correctly mention whether the house property is Self-Occupied or  Let Out in Schedule HP.
  • Accordingly, the final value of Income from House Property will auto populate in Item 1i.
  • In case of multiple house properties do not use ITR-1, details of each house property  have to be entered completely as mentioned above. In case of ITR-1 , the House Property loss should be entered as a negative (-) value  in the 'Income from House Property' column.
  • Income from Short Term Capital Gains should be entered in Item A of Schedule CGCapital Gains.
  • Out of value auto-populated in column "Total Short Term Capital Gains", the amount of STCG attributable to STCG from sale of equity share in a company or a unit of an  equity oriented mutual fund, typically, should be entered in column namely, 'Short  term capital gain under section 111A included in 4'.
  • Moreover, the STCG under 111A as entered in column referred above is taxed at a lower flat rate of 10%.
  • The residual value, where the STCG is due to sale of assets other than Equity Shares in a Company or Unit of an Equity Oriented Mutual Fund, if any, will auto populate in  the column named, 'Short term capital gain other than referred to in section 111A'.
  • The STCG due to sale of assets other than equity share in a company or a unit of an equity oriented fund is taxed at the normal slab based rates of tax.
  • Most mistakes in STCG are due to incomplete filling of the Schedule CG, incorrect  apportionment of Total STCG into STCG on which Section 111A is applicable &  STCG on which Section 111A is not applicable.
  • Income from Long Term Capital Gains should be entered in Item B of Schedule CG-Capital  Gains.
          For Long Term Capital Gain (LTCG), the total value of consideration received for assets sold such as house property etc, typically, should be entered in Column 'Other Assets for which option under proviso to section 112(1) not exercised' in case the  benefit of indexation is claimed.  
  • Against this value of consideration received, the indexed cost of acquisition /  improvement and allowable expenditure etc should be entered in appropriate  columns provided thereafter.
  • The appropriate exemptions, if any, shall be entered in Column provided  therein and the amounts will populate automatically wherever necessary.
  • LTCG in case of 'Asset in the case of others where proviso under section 112(1) not exercised' Column of ITR 2 is taxed at a flat rate of 20% and the benefit of indexation is allowed.
          Where the benefit of indexation is NOT claimed then total value of consideration received for assets transferred, should be entered in 'Other Assets for which option under proviso to section 112(1) exercised' column-
  • Against this consideration, the cost of acquisition / improvement and allowable expenditure etc should be entered in relevant columns provided in Schedule CG.
  • The appropriate exemptions, if any, are filled in column provided for the same  & amounts will auto populate automatically wherever necessary.
          LTCG in case of in 'Other Assets for which option under proviso to section 112(1) exercised', where the benefit of indexation is NOT allowed, as being displayed in the named column is taxed at a lower flat rate of 10%.
          The assessee is required to segregate the information date wise in Column D of  Schedule CG, regarding Accrual or Receipt of Capital Gain failing which Interest  under Section 234C will be wrongly calculated.
  • Adjustment of current year and brought forward losses- Schedules CYLA, BFLA and CFL  Most taxpayers have left these Schedules completely blank. These schedules are used for  permissible adjustment of loss of one head of income against another head of income.
The  main checkpoints are:
  • Only positive values need to be entered. No negative value is required to be entered  in CYLA, BFLA & CFL.
  • Carry forward of Current year losses though claimed in return will not be allowed if the return is not filed within due date.
  • No value should be entered in the 'Greyed out' boxes.
  • The Amounts in Schedule CYLA/BFLA will populate automatically, however assessee will be allowed to claim loss in Schedule BFLA only if appropriate columns have been entered in Schedule CFL.
  • It is to be noted that the newly introduced Schedule namely Schedule UD currently is not linked with Schedule BFLA, therefore the assessee is required to mention the Brought Forward Depreciation amount separately in Schedule BFLA for claiming the  loss arising from the same.
  • Income chargeable to Income tax at special rates- Schedule SI Most mistakes have occurred in this Schedule since taxpayers have not correctly filled the  codes, rates or values.
The following points may be considered:
  • Currently the Income Tax forms do not have Individual Columns for segregating DTAA income from Non DTAA income under each head of income therefore, the  taxpayer is advised to give details of DTAA income & Tax thereon in Schedule SI.
  • Also, any special income other than Capital Gains income the figures for which auto  populate from Schedule CG, the assessee is required to mention it in Schedule SI  only & that income shall not be specified separately under any other head.
Deductions from Income under Chapter VIA:         
  • Most mistakes have occurred due to incomplete details or leaving blank the value of deductions under respective schedules. In most cases only the total deduction value is mentioned.
  • The deduction amount claimed should be entered in Items 5a to 5m in ITR 1  and in Items a to o in Schedule VIA in ITR 2.
  • Eligible donation for the purpose of deduction under 80 G for donations to  charitable institutions (other than certain specified institutions or funds such  as Prime Minister's Relief Fund or Rajiv Gandhi Foundation) is restricted to  10 % of total income after excluding income chargeable to special rates of  tax.
  • Likewise, all deductions have specific criteria and limits for claims. In the  present utility a user enterable field for claiming deduction has been mentioned & correspondingly System Value for deduction claimed is also mentioned for the benefit of the assessee.
  • The sum of all deductions also cannot exceed the total income. Deduction cannot be claimed against income chargeable to special rate tax.
  • Reasons for difference in calculation of Tax or Interest under 234A, 234B or 234C  and Interest on Refund.
  • Mistakes in computation of Income as mentioned above leading to an  increase in Income.
  • Mistake in entering data or Income chargeable to tax at special rates such as STCG on sale of shares, LTCG where indexation benefit is claimed, winnings  from lottery.
Incorrectly computing special rates of tax.
  • Mistakes in entering data or leaving blank, important fields relevant for  computation of tax such as date of birth (relevant for senior citizens) or  gender (relevant for female taxpayers), resident or non-resident, status  (relevant in case of HUF).
  • In case of any shortfall of tax payment either due to non-payment or due to  non-matching of the tax payment or TDS, interest may be charged.
  • Typically, interest till the date of processing under 234A is charged if the  return is filed beyond due date, interest under 234B is charged for shortfall in  payment of advance tax and interest under 234C is charged for deferment of  advance tax.
  • Interest under 234C is also charged in case advance tax on account of STCG  under 111A, LTCG or Winnings from lotteries is not paid, beginning from the  next quarter from the quarter in which the income is earned.
  • Details of quarter wise breakup of STCG, LTCG and Winnings from Lottery  as mentioned in Schedule SI after adjustment of Losses and adjustment of  basic exemption threshold, if applicable, are used for calculation of advance  tax liability and interest under 234C.
  • Reasons for mistakes in Credit for tax payments or TDS A major reason for difference in refund amount during processing is that the details of  tax payment or TDS do not match with the data available with the Department. 
 The critical checkpoints are as under:
  • Corresponding deduction of tax (TDS) on salary by all Employers should be  correctly entered in Schedule TDS1 in ITR1 or Schedule TDS 1 for ITR 2.
  • TDS on salary should be entered in Schedule TDS1 ONLY and TDS on other Income should be entered in Schedule TDS 2 ONLY.
  • Tax deduction Account Number (TAN) of the Employer/Deductor is the  unique identifier for matching TDS claims made against TDS reported by  Employer/Deductor.The TAN number is mentioned on the Form 16 given  by the Employer or on the Form 16A given by the Deductor. In case the  TAN of the Employer/Deductor is not correctly mentioned, no matching is  possible and TDS credit will not be given.
  • If the TAN has been correctly entered but the Employer/Deductor does not  report the same TDS details to the Department, especially the taxpayer Permanent Account Number (PAN), then also the TDS cannot be matched.  Therefore it is advised to check Form 26AS for the amount which has already  been deposited by persons deducting tax on behalf of the taxpayer.  Thereafter, the taxpayer should bring this fact in the notice of persons deducting tax so that they can act accordingly.
  • In case of Tax payments of Advance tax or Self Assessment tax, the PAN  used to submit the tax challan to the bank should be the same as the PAN  used to submit the return. Without a valid PAN the tax payment received from  the bank would be in suspense and cannot be matched with tax payment  claim as entered in the return.
  • While making the tax payment at the Bank, NO MISTAKE should be made in  the challan while entering the PAN, Name, Major head (20 or 21),  Assessment Year, Type of tax payment {advance tax (code 100), Self  Assessment tax (code 300)}, tax applicable (Income tax other than  companies).
  • Any tax payment made under code 400 corresponding to 'Tax on regular  Assessment' cannot be used for matching and accordingly credit cannot be  given against advance tax or self assessment tax claims.
  • The Challan Identification Number (CIN) is the combination of BSR code (any bank branch's unique 7 digit identification number issued by RBI), date of deposit of challan (DD-MM-YY), and the running serial number of the challan, and is mentioned by the Bank while accepting tax payment on its seal. In case this is not clearly legible, the Bank can be requested to provide correct  details. This must be entered correctly in the return while claiming credit.
Miscellaneous mistakes:
Mistakes in address etc do not affect processing but cause mis-delivery or nondelivery of communication or in case of Bank Account Number error cause rejection  of refund credit to taxpayer account. 

The following points may be noted:
  • The name in the return should be entered as it appears in the PAN card.
  • Address should be correctly filled with correct city, state and PINCODE for  faster and accurate delivery of communication from the Department.
  • For faster credit of Income Tax refunds, correct bank account number and  MICR code in the return should be mentioned. In case of any mistake in  MICR or Bank Account number, the refund will not be credited. and a  cancelled cheque showing correct particulars would be required to be  submitted to CPC for correction in bank account number or MICR code.
  • Do not Copy/Cut/Paste the data in the utility. It may lead to calculation errors.
  • In case of Refunds below Rs 100, no refund is issued and if Demand is below  Rs 100, it need not be paid.
How to rectify the mistake and to get the correct refund Mistakes in the ITR due to any of the reasons may be corrected by submitting a  rectification form. Some basic information is provided below:
  • The procedure for rectification and correction of mistakes is available in  HELP on the website.
  • In case of any mistake in MICR or Bank Account number , please raise a  request after logging in to e-Filing application under 'My Account' --> 'Refund  Re-issue request'.
  • In case the charging of additional tax and interest is only because of nonmatching of tax payment or TDS, upon correction of the details by taxpayer  or employer / deductor, the additional tax and interest will be automatically  reduced or eliminated
Source: www.tdstaxindia.com

Additional Expected Dearness Allowance will be hikes by 10% confirmed from July-2013.

We have enjoying the dearness allowance from January 2013 increased by 8% i.e. from 72% to 80%  w.e.f. 01.01.2013 and now the time of discussing about the rate of dearness allowance from July 2013.  We can assume that the AICPIN will certainly go up, because of the essential commodities prices are going high with non stop. Anyway we can assume the additional Dearness allowance from July 2013 will be 10%. It is not an authentic source of information, it is our forecast calculation method based on the AICPIN will step up one point from the existing level for coming months. Now the Dearness allowance stands at 80%, perhaps if our calculation could happens then the Dearness allowance may go up to 90% from 1.7.2013.

The All India consumer price Index numbers has published Prince Index Cost which is as bellow:

Month AICPIN-IW
July 2012 212
August 2012 214
September 2012 215
October 2012 217
November 2012 218
December 2012 219
January 2013 221
February 2013 223
March 2013  224
April 2013 226
May 2013 to be published
June 2013 to be published

The AICPIN for the last two months are yet to be published. According to the 10 months average of AICPIN, if the same trend continues up to June 2013, the dearness allowance to be increased from 1st July 2013 will be 10%. So it is estimated from the above AICPIN position that expected increase in dearness allowance will be 10% w.e.f. 01.07.2013.

The Revised Refund Rules will Come into Effect From 1st July 2013

Press Information Bureau
Government of India
Ministry of Railways

25-June-2013 16:09 IST

Indian Railways Undertakes Comprehensive Revision of its Refund Rules
The Revised Refund Rules will Come into Effect From 1st July 2013

Ministry of Railways has revised and amended Refund Rules in a very comprehensive manner and notified them which shall come into force with effect from 1.7.2013. The amendments made in the Refund Rules are aimed at simplification, efficiency in processing and reduction of bogus refund claims.


Railway Passengers (Cancellation of ticket and Refund of fare) Rules, 1998 have not been substantially revised in the last 15 years during which period a large number of changes have taken place in the ticketing system of Indian Railways.  Firstly, Computerised Passenger Reservation System (PRS) as well as Computerised Unreserved Ticketing System (UTS) have proliferated. Reservation through internet has also been introduced through which 45% of the total reserved tickets are issued. Integrated Train Enquiry System -- 139 is functional through which ticket status can be obtained through SMS. The above developments warranted that the refund rules be revised comprehensively.

The major changes in the existing rules and the amendments in refund rules are as under:-

Unused (unreserved) tickets on which no reservation has been made:-
Existing ruleAmended rule
If a ticket on which no reservation of a seat or berth has been made is presented to the station master for cancellation refund of fare shall be made on every such ticket after deducting the clerkage.If a ticket on which no reservation of a seat or berth has been made is presented for cancellation, refund of fare shall be made on every such ticket after deducting the clerkage.
(i) within three hours after the actual departure of the train for which the ticket is issued or(i)The ticket shall be presented for cancellation within three hours of issue of ticket.
(ii) for any ticket valid for the whole day, within three hours after the actual departure of the last train of the day for the destination station(ii) In case of tickets issued in advance the ticket is presented upto 2400 hours of the day preceding the day of journey.

Unused tickets on which reservation has been made :-
(i) if the ticket is presented for cancellation more than forty eight hours instead of the existing 24 hours in advance of the scheduled departure of the train, a minimum per passenger cancellation charge shall be deducted at the flat rate of rupees one hundred and twenty for air-conditioned first class/executive class, rupees one hundred for air-conditioned-II tier/first class, rupees ninety for air-conditioned III-tier/ 3 economy/air-conditioned chair car, rupees sixty for sleeper class and rupees thirty for second class.
(ii) if the ticket is presented for cancellation between forty eight hours and upto six hours instead of existing 24 hours and upto 4 hours before the scheduled departure of the train, cancellation charge shall be twenty five per cent of the fare subject to a minimum of the cancellation charge.  
(iii)  if the ticket is presented for cancellation within six hours instead of existing 4 hours before the scheduled departure of the train and upto two hours irrespective of distance instead of existing 3/6/12 hours for distance 200 kms/200-500 kms/500 Kms and above after the actual departure of the train, the cancellation charge shall be fifty per cent of the fare subject to a minimum of the cancellation charge.
(iv) No refund shall be granted on the reserved ticket if it is surrendered for cancellation after two hours of the actual departure of the train.                      
(v)  In case, on a party ticket or a family ticket issued for travel of more than one person, some persons have confirmed reservation and others are on waiting list, full refund of fare, less clerkage, shall be admissible for confirmed passengers also provided that the entire ticket is surrendered for cancellation within six hours instead of existing 4 hours before the scheduled departure of the train and upto two hours instead of existing 3 hours after actual departure of the train”.
Unused waitlisted or RAC tickets :-
Existing rule Revised rule
If the ticket is presented for cancellation upto 3/6/12 hours for distance 200 kms/200-500 kms/500 Kms and above after the actual departure of the train, except deduction of clerkage; If a Waitlisted/RAC ticket is presented for cancellation, refund of fare shall be admissible after deducting the clerkage.



 Provided that for night trains leaving between 21.00 hours and 06.00 hours (actual departure), refund shall be admissible at the station within the time limits specified above or within first four hours after the opening of reservation office, whichever is later.
(i) The ticket is presented for cancellation upto three hours after the actual departure of the train irrespective of the distance.

(ii) The passenger may get the tickets cancelled from any PRS counters or the designated current counters.

(iii) No refund of fare shall be granted on RAC ticket /Waitlisted ticket after three hours of the actual departure of the train. 

(iv) In case no current counters are available at journey originating station for night trains leaving between 21.00 hours and 06.00 hours(actual departure , refund shall be admissible at the station within first two hours after the opening of reservation office.

(v) In remote and hill areas as identified by the zonal Railways with the prior approval of the General Managers and print in their Time Tables for train leaving between 1900 hours and 0600 hours (actual departure) refund shall be admissible at the station within first two hours after the opening of reservation/booking office, in case there is no reservation counters/booking office/ current counters. Available in that area.
Cancellation of e- tickets :-
  • The e- ticket may be booked and cancelled through internet and the refund of fare shall be credited to the customer’s account after deducting the charges applicable.
  • In case of a confirmed e-ticket, refund of fare shall be granted in accordance with rule for unused tickets on which reservation has been made. In case of RAC e-ticket, refund of fare shall be granted in accordance with rule for unused waitlisted and RAC tickets.
  • In case of  the waitlisted e-ticket on which status of all the passengers is on waiting list even after preparation of reservation charts, names of all such passengers booked on that  Passenger Name Record (PNR) shall  be dropped from the reservation chart and  refund of fare shall be credited to the customer’s account  after deducting the clerkage.
  • In case on a party e-ticket or a family e-ticket issued for travel of more than one person, some persons have confirmed reservation and others are on the list of RAC and waiting list, then in case of passengers on RAC or waitlisted not travelling, a certificate has to be obtained from the ticket checking staff to that effect and refund of fare shall be processed online through TDR, indicating the details of the certificate issued by ticket checking staff.
  • The online TDR shall be filed upto seventy two hours of actual arrival of the train at passenger’s destination and the original certificate issued by the ticket checking staff is to be sent through post to Indian Railway Catering and Tourism Corporation (IRCTC). The fare shall be refunded by Indian Railway Catering and Tourism Corporation (IRCTC) to the customer’s account after due verification.
  • In case of e-tickets (confirmed or RAC), if the reservation charts have been   prepared, online TDR is required to be filed for obtaining refund. No refund of fare shall be admissible on e- ticket having confirmed reservation in case the request for refund is filed online after two hours of the actual departure of the train.
  • No refund of fare shall be admissible on RAC e-tickets in case the request for refund is filed online after three hours of the actual departure of the train.

Refund on Tatkal  tickets:
  • No refund of fare shall be admissible on confirmed Tatkal ticket.
  • In case of Tatkal ticket on waitlist, refund of fare shall be granted in accordance with rule for unused waitlisted or RAC tickets.
  • In case on a party Tatkal ticket or a family Tatkal ticket issued for travel for more than one person, some persons have confirmed reservation and others are on waiting list, full refund of fare, less clerkage, shall be admissible for confirmed passengers also provided that the entire Tatkal ticket is surrendered for cancellation within six hours before the scheduled departure of the train or upto two hours of the actual departure of the train.
Postponement or preponement of journey on a reserved, RAC or waitlisted ticket.
The postponement or preponement of journey on confirmed or RAC or waitlisted ticket shall be allowed in the same class and for the same destination instead of any longer distance or any higher class by the same train or by any other train for any subsequent days,  subject to condition that the ticket is surrendered during the working hours of reservation office and at least forty eight hours instead of existing 24 hours before the scheduled departure of the train in which originally booked.
Non-commencement or missing of journey due to late running of trains :-
  • No cancellation charge or clerkage shall be levied and full fare shall be refunded to all passengers holding reserved, RAC and waitlisted tickets, if the journey is not undertaken due to late running of the train by more than three hours of the scheduled departure of the train from the station commencing the journey subject to condition that the ticket is surrendered upto the actual departure of the train instead of existing 3/6/12 hours for distance 200 kms/200-500 kms/500 Kms and above after the actual departure of the train.
  • In case of e-tickets, the TDR  is filed online before the actual departure of  the train for availing full refund.
  • In case the ticket is cancelled or surrendered or if the request for refund of fare is filed  online after the actual departure of the train, no refund of fare shall be admissible.
Lost, misplaced, torn or mutilated tickets : -
If the reservation status of a lost, misplaced, torn or mutilated ticket, at the time of receipt of the application for issuance of a duplicate ticket for the purpose of undertaking journey, is confirmed or RAC and that the duplicate ticket is sought before preparation of reservation chart of the concerned train, the station master shall issue a duplicate ticket in lieu of the original ticket on payment of  rupees fifty  per passenger in case of second and sleeper class and  rupees one hundred   per passenger for other classes instead of existing clerkage charge.
Application for refund of Passenger Reservation System (PRS) tickets in other circumstances:-              
For refund of fare under circumstances other than those specified in these rules or under circumstances like ‘bandh’ or agitations or floods,  etc., the passengers could not reach the reservation counter or station or current counters for cancellation of tickets, in those cases, a TDR  shall be issued to the passenger and the passenger may apply for refund of fare within ten days instead existing 90 days from the day of commencement of journey to the Chief Commercial Manager (Refunds) of the railway administration under whose jurisdiction the TDR issuing station comes, enclosing the original TDR. The TDR shall be issued only upto three days instead of existing 30 days after the scheduled departure of the train.

How to Deduct TDS, Salaried Employee for Asstt. Year 2014-15 ?

We are already known the Finance Minister declared the Income Tax Slab for Asstt. Year 2013-14  in Union Budget-2013 with all tax liabilities and reliefs.  On the  basis of Union Budget -2013 Income Tax Slab and all liabilities and reliefs to Taxpayee by the Government, the most useful and simple Tax Calculator for salaried employee to  deduct monthly TDS from salary is now available by Gsoftnet.  The  Salaried Employee can calculate Tax Liability for Asstt. Year 2014-15 from March-2013.  For more clarification  current Income Tax Slab is also available.

Calculate your Tax Liability in Financial Year 2013-14



I. In case of individual (other than II and III below) and HUF
*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh

II. In case of individual being a woman resident in India and below the age of 60 years at any time during the previous year:

*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh

III. In case of an individual resident who is of the age of 60 years or more at any time during the previous year:

*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh

IV. In case of an individual resident who is of the age of 80 years or more at any time during the previous year:

*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh
  • Education Cess: 3% of the Income-tax.
  • New Rs 50,000 tax exemption for retail equity investments
  • Sale of residential property exempt from Capital Gains tax if invested in equity or equipment of an SME.
  • Implementation of Direct Tax Code (DTC) deferred. GST to be operational by August 2012.
  • Surcharge of 10% on income more than Rs. 1 crore
  • Tax credit of Rs.2000 for annual income of Rs. 5 lakh
  • Home Loan Income tax Exemption limit increased from Rs.1.5 lakhs to Rs.2.5 lakhs for loan up to Rs.25 lakhs
  • Rajiv Gandhi Equity Savings Scheme extended to mutual funds.
  • Rajiv Gandhi Equity Savings Scheme to be liberlised.
  • Rajiv Gandhi Equity Savings Scheme limit increased.
Download Tax Calculator For. A. Y. 2013-15  (Click Here)
Form 16 Utility Free Download (Click Here)

ITR-V no need to send to CPC Bangalore in near future.

There is a good news for the taxpayers as they needn’t to send the paper documents to CPC Bangalore in the near future. Income tax department is going to introduce a new system in which e-verification of the documents will be possible.

This is in the earlier stage of introducing the e-verification of paper documents as there is a lot to do before implementing as many formalities and approval to be taken. First the department need to develop infrastructure and some amendments to be made and after parliament approval is must before implementing.

According to officials, this new facility of electronic verification may be in operation in September which will save a lot of time and hassle of the taxpayers.

There is same option available in USA and income tax department wants to implement it in India.
 
Presently two options are available in contrast of electronic income tax return filing. Either taxpayer need to digital sign or file the ITR without digital signature.

If the taxpayer signs digitally, there is no need to send ITR-V to the department but in the case of not digitally signature, the taxpayer need to send ITR-V to CPC Bangalore for the physical verification of ITR within 120 days of e-filing of income tax return.

There is a big increase of e-filing of income tax return in 2012-13 compare to the previous year and the figure is 31% higher.

Source: www.taxalertindia.com

Enhancement in the rate of used Medical Allowance from Rs. 1200/- to Rs. 2000/- p.m. w.e.f 01.03.2013

EPFO has enhanced the rate of medical allowance from Rs. 1200/- to Rs. 2000/- Per month w.e.f. 01.03.2013, payable to the serving as well as retired employees of the EPFO for outdoor medical treatment.  The full notification is as follows:

Employees’ Provident Fund Organisation
(Ministry of Labour and Employment, Government of India)

No, HRM-8/V/12/1/2003/FMA/Vol-117/6160
Dated 13 JUN 2013
To,
All Addl. Central P F. Commissioner (Zones)
Director (NATRSS)
All RPFCs-In-Charge of the Region/ZTIs
RPFC (ASDL), Head Office
All Officer-in-charge of SROs

Sub:. Enhancement in the rate of used Medical Allowance from Rs. 1200/- to Rs. 2000/- p.m. w.e.f 01.03.2013, payable to the serving as well as retired employees of the EPFO for outdoor medical treatment - regarding.

Sir,
I am directed to convey the approval of the 76th Executive Committee, CBT, EPF held 25/02/2013 and Hon'ble Labour & Employment Minister, Government of India for enhancement of the Fixed Medical Allowance (FMA) for pensioners and employees of EPFO from Rs. 1200/- p.m. to Rs 2000/- p.m w.e.f. 1st March, 2013, subject to the following conditions :-

(i) The enhancement of fixed medical allowance will be available to serving employees and pensioners (including family pensioners) of the Employees Provident Fund Organization. The serving employees of the Organization who are in the Head Office at New Delhi and Regional/Sub Regional Office at Delhi and at stations which are covered by the Central Government Health Scheme will not be eligible for Fixed Medical Allowance.  As soon as any employee is covered by Central Government Health Scheme, the fixed medical allowance admissible to him/her shall be stopped.

(ii) If two or more members of family are working in the EPF Organization, only one of them will be eligible for the facility of fixed medical allowance.

(iii) In the case of an employee whose wife/husband spouse is an employee of a Government or any other organization (including private firm/office) he/she will be required to give an undertaking that his/her spouse is not availing of medical facilities in case, lf any granted by their respective employers.

(iv) The Fixed Medical Allowance will be in lieu of the medical facility available for outdoor treatment under the Central Services (Medical Attendance) Ruler 1944 as adopted by the FPF Organization for its own employees and pensioners.

(Authority: Ministry of Labour & Employment, Govt. of India letter no.G-25012/2/2011-SS-I dated 07.06.2013)

You faithfully,
sd/-
(V.N. SHARMA)
ADDL. CENTRAL P.F. COMMISSIONER (HR)

Source : www.epfindia.com

Free Download the most useful Income Tax Forms for Taxpayee.

There are many webside provide Income Tax Forms for Taxpayee.  Here is the latest various Income Tax Forms i.e. Tax Deduction and Collection payment, furnishing details of income u/s. 192(2), statement showing particulars of perquisites, application by a person for a certificate u/s. 197 or 206C(9), providing information to be furnished under sub section (6) and many more.  The following form are free to downloads.





Forms
Challan ITNS 281 Bank Payment Challan to be used by TAN (Tax Deduction and Collection Account Number) holders for making TDS / TCS related payment
Form 12B Issued as per Rule 26A, this is the form for furnishing details of income under Section 192(2) of Income Tax Act, 1961
Form 12BA Issued as per Rule 26A(2)(b), this form is the statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof
Form 13 Issued as per Rule 26A(2)(b), this form is the application by a person for a certificate under Sections 197 and / or 206C(9) of Income Tax Act, 1961, for no deduction / collection of tax or deduction / collection of tax at a lower rate
Form 15CA Issued as per Rule 37BB, this is the form for providing information to be furnished under Sub-section (6) of Section 195 of Income Tax Act, 1961 relating to remittance of payments to a non-resident or to a foreign company
Form 15CB Issued as per Rule 37BB, this is the certificate of an accountant to be furnished under Sub-section (6) of Section 195 of Income Tax Act, 1961 relating to remittance of payments to a non-resident or to a foreign company
Form 15D Issued as per Rule 29B, this is the application by a person other than a banking company for a certificate under Section 195(3) of Income Tax Act, 1961 for receipt of sums other than interest and dividends without deduction of tax
Form 15E Issued as per Rule 29B, this is the certificate under Section 195(3) of Income Tax Act, 1961, authorizing receipt of interest and other sums without deduction of tax
Form 15G Issued as per Rule 29C, this is the declaration under Sub-sections (1) and (1A) of Section 197A of Income Tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax
Form 15H Issued as per Rule 29C(1A), this is the declaration under Sub-section (1C) of Section 197A of Income Tax Act, 1961, to be made by an individual who is of the age of sixty-five years or more claiming certain receipts without deduction of tax
Form 16 Certificate under Section 203 of Income Tax Act, 1961 read with Rule 31(1)(a) for tax deducted at source from income chargeable under the head "Salaries". This form is mandatory and can be downloaded from TRACES in future
Form 16A Certificate under Section 203 of Income Tax Act, 1961 read with Rule 31(1)(b) for tax deducted at source in respect of income other than Salary. This form is mandatory and can be downloaded from TRACES in future
Form 24G TDS / TCS Book Adjustment Statement
Form 24Q Quarterly statement of deduction of tax under Sub-section (3) of Section 200 of Income Tax Act, 1961 in respect of Salary
Form 26Q Quarterly statement of deduction of tax under Sub-section (3) of Section 200 of Income Tax Act, 1961 in respect of payments other than Salary
Form 27A Form for furnishing information with the statement of deduction / collection of tax at source filed on computer media for a given period
Form 27C Issued as per Rule 37C, this form is the declaration under Sub-section (1A) of Section 206C of Income Tax Act, 1961 to be made by a buyer for obtaining goods without collection of tax
Form 27D Issued as per Rule 37D, this is the certificate of collection of tax at source under Sub-section (5) of Section 206C of Income Tax Act, 1961
Form 27EQ Quarterly statement of Tax Collection at Source (TCS) under Section 206C of Income Tax Act, 1961
Form 27Q Quarterly statement of deduction of tax under Sub-section (3) of Section 200 of Income Tax Act, 1961 in respect of payments other than Salary made to non-residents
Form 49B Issued under Section 203A and as per Rule 114A, this is the application form for allotment of Tax Deduction and Collection Account Number
Do you submit Income Tax Return?
Download ITR-1, ITR-2, ITR-3, ITR-4, ITR-4S, ITR-5, ITR-6, ITR-7