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TDS SHORTFALL
Water supply problems continue in Delhi; Yamuna's level at Wazirabad lower than required normalDelhi is experiencing water shortages across several areas. The Delhi Jal Board's water production is significantly below its summer target...- Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demandsWith the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are ...
- How to reduce TDS using Form 12BAA?Salaried taxpayers often face higher tax deductions at source (TDS) on their salaries despite having paid TDS or tax collected at source (T...
- For Budget 2025, AMFI proposes uniform rate for surcharge on TDS for NRIsAMFI has proposed a uniform 10% surcharge rate on TDS for NRIs on dividend payments and capital gains from mutual funds. This aims to addre...
- Made false deduction claim in ITR? Income tax dept wants employees to rectify this and pay the due tax or be ready for penal actionIncome tax deduction: Incase you have mistakenly claimed a incorrect or wrong tax deduction or exemption and thus as a result your tax liab...
- Property buyer may end up paying 19% TDS out of his own pocket for this PAN related issueTax deducted at source (TDS): If you are buying any property above Rs 50 lakh value then make sure to deduct 1% TDS before making the payme...
- Budget 2022: Consequences for TDS shortfall are borne by the employee who has switched jobsThe Bombay Chartered Accountants’ Society (BCAS), in its pre-budget memorandum, has submitted: “Because of short deduction by the employer ...
- Penal interest applies on late payment of advance tax: Here's how to calculate itTaxpayer is liable to pay penal interest on advance tax if he has failed to pay any advance tax or the advance tax paid is less than 90& of...
- Changing jobs? Here's how to minimise tax impactFrom correct deduction of TDS to payment of advance tax, here’s how to deal with various taxation issues that may arise when you switch job...
- Direct Tax collections marginally short of target in 2014-15Officials said the Income Tax department, which collects a variety of taxes including personal and corporate taxes, mopped up approximately...
- Tax shortfall: Finance Ministry asks banks to deposit March TDS by month endAccording to official data updated till March first week, TDS collections stood at 7.49 per cent as against 16.69 per cent in the same peri...
- Pay TDS by March 31, Income Tax department requests companiesSeveral firms have received letters from the I-T department, “requesting” them to deposit the amount from tax deductions before the financi...
- CBDT calls meeting for review of tax, TDS collection this weekIn the 2013-14 financial year the growth under this head was 16.73 per cent while in the current fiscal of 2014-15 the growth percentage is...
- I-T dept to step up prosecution against TDS defaultersAccording to latest data, the growth in TDS collections is less by 50 per cent this time as compared to the last period.
- Shortfall in TDS collections: CBDT asks I-T department to actCBDT has asked the Income Tax department to pull up its socks and initiate special measures to achieve the direct taxes collection target f...
- Mumbai fails to meet TDS collection by 3-4 per cent in FY13The Income Tax Department in the city said the TDS collection in 2012-13 rose by 10% to Rs 63,000 cr, which is 3-4% lower than the projecte...
- TDS shortfall due to an error is no reason to disallow it: HCThe division bench that made the ruling comprised Justice Girish Chandra Gupta and Justice Mrinal Kanti Sinha.
- Mumbai may miss revised tax collection targetCity's contribution grew 6.7% till mar 12 against an avg rise of over 25% in Delhi, Hyderabad & Kolkata
- Tax hounds chase defaulters as TDS target set to fall short by 10%The income-tax department is expected to fall short of its targeted collections from tax deduction at source (TDS) by 10% in 2008-09.
- SC issues notice to PriceWaterhouseCoopersSC on Monday sought reply from PriceWaterhouseCoopers as to why the non-resident company should not pay advance tax on fee charged by it fo...
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