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Should TDS under Income Tax be deducted on GST ?

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Some one has raised a query regarding the Income Tax deduction (TDS) as per Income Tax Act, 1961 is to be deducted on GST or not at the time of making a payment. This  confusion of the people has been removed by the CBDT  vide...

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Clarifications in respect of section 269ST

In a bid to promote Mr. PM Modi’s dreams ‘ Digital India ‘, & ‘ Cash-Less Economy’, Tax Policy and Legislation division of Central Board of Direct Taxes issues Circular No. 22/2017 regarding clarifications in respect of section 269ST of the Income Tax Act, 1961...

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No TDs on Passenger Services Fees (PSF)

194-I

Central Board of Direct Taxes notifies vide Circular No. 21/2017 dated 12th June 2017, that section 194-1 of the Act, will not  apply on  Passenger  Services Fees (PFS) by an Airlines to an Air Operators. Circular No. 21/2017 F.No. 279/Misc./140/2015/ITJ Government of India Ministry of Finance...

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New Form 16C for payment of TDS on Rent u/s 194-IB

Central Board of Direct Taxes issues Notification No. 48/2017 dated 08th June, 2017 related to New Form 16C for TDS certificates and Form No. 26QC for payment of TDS on Rent under section 194-IB of Income Tax Act, 1961, MINISTRY OF FINANCE (Department of Revenue)...

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Relief in capital gains tax even if without STT

The CBDT has issued a rule giving relief in capital gains tax, vide notification no. 43/2017 dated 05-06-2017 to FDI,ESOP,Off-Market Transactions recognised by RBI,SEBI,NCLAT,Courts, even if no STT has been paid on them. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION...

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Furnish Form 15G/15H to deductor Every Financial Year

CBDT declared that New Form 15G/15H to be furnished to the Deductor or  Payer for each Financial Year via Notification No. 6/2017, Read below: F.No. Pr. DGIT(S)/CPC(TDS)/NOTIFICATION/2017-18 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of income-tax(Systems) New Delhi Notification No....

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ITR filling and TDS in case both deceased parents of minor

CBDT issues guidelines relating to TDS and Filling of ITR in case both the parents are dead of minor as below: F.No. DGIT(S)/CPC(TDS)/NOTIFICATION/2017-18 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No.5 /2017            ...

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Circular No.14 of 2017 – PMGKY

Due date for making deposit under Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 is extended to 30th April, 2017 and the due date for furnishing declaration in Form No.1 under Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) is extended to 10th May, 2017 provided due...

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