Taxpayers who have registered to view Form 26AS online can view details of paid refund in their Form 26AS from F.Y. 2009-10 (A.Y. 2010-11) onwards. Refunds received during the selected A.Y. will be displayed in Form 26AS. For instance, refunds pertaining to A.Y. 2005-06 which are received in F.Y. 2009-10 (A.Y. 2010-11) will be displayed [...]
The Central Board of Direct Taxes have further decided that the Notification No. 31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962 shall be kept in abeyance for the time being.
Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or any other [...]
The data structure of quarterly e-TDS / TCS statements has been modified by the Income Tax Department to incorporate certain additional fields and validations to further improve the data quality.
New data structure (File format changes highlighted) version 4.0 [for quarterly e-TDS/TCS statement (Regular and correction)]
Key changes in the data structure of both regular and correction [...]
Tax Information Network (TIN), a repository of nationwide Tax related information, has been established by National Securities Depository Limited (NSDL) on behalf of Income Tax Department of India (ITD). TIN is an initiative by ITD for the modernisation of the current system for collection, processing, monitoring and accounting of direct taxes using information technology.
TIN system:
TIN [...]
The sections 192 to 196 of Income Tax Act, directs “Any person responsible for paying any income chargeable to tax” to deduct income-tax thereon at the rates specified respectively.
Salaries:
While making the payment of Salary, deductor should consider the following and deduct correct TDS from the payment being made.
Calculate the annual Approximate/Actual Salary
Calculate the Exact Taxable [...]
