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Free Handbook covers the following Topics - 1. Introduction 2. Evolution and Growth of Charitable Organisations in India 3. Meaning of Charitable Organisation
4. Laws governing Charitable Organisations in India 5. Formation and Registration of the...

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Amendment Vide Finance Act, 2012. Pre Survey & Search precautions.. Salient features of survey proceedings. Salient features of Search & Seizure Proceedings
Right & Duties of Assessee, Income Tax Department & Chartered Accountant

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1 Meaning of HUF 2. Characteristics of HUF 3. Who can be ‘Karta’ 4 Sole Surviving Coparcener 5 Consequence of Amendment in Hindu Succession Act 6 Mode of Creation of HUF 7 Income Tax Issues

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TYPES OF ASSESSMENT? Inquiry before Assessment Section 142(1) Summary Assessment Section 143(1) Scrutiny Assessment Section 143(3) Best Judgment Assessment Section 144 Reassessment Section 147

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3CA & 3CB COMMON ISSUES 1. Statutory Auditors to separately disclose reliance on Branch Auditor 2. Branches out side India not Audited by Tax auditor

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Section 44AD of the Income Tax Act,1961 Reason for introducing new scheme for presumptive taxation - 1. There has been a substantial increase in small businesses with the growth of transport and communication and general growth of the economy. A large number of businesses and ...

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CA Agarwal Sanjay ‘Voice of CA’,     CA Vijay Kumar Gupta History- This section was introduced long back in 1972 and thereafter amended many times. The scope of the said provision has been explained vide circulars Nos. 86 dated May 29, 1972, 93 dated 26.9.1972, 558 dated 28.3.1990,681 dated...

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Whether the T.D.S. is deductible on the compensation paid to the unfortune parents, whose child dies in an escalator maintained by an Airport Authority

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The assessee has contended that the amount debited by the assessee is as per an independent enquiry carried out by M/s Institute of Oil and Gas Production Technology and therefore, it cannot be held as unascertained liability. The Assessing Officer...

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In the instant case instead of foreign exchange going out of India, there is conservation of foreign exchange in India to the extent of commission earned by the service provider appellant in view of the arrangement made by the service recipient...

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Section 68 of the Act – substantive provisions (post amendment by Finance Act 2012) - Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in...

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So far as the first difference of age and formation is concerned, there is no merit in the contention of the assessee, as the age and formation of the company cannot be the criteria for rejecting the company for comparability analysis. If that is...

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In a major setback to the Sahara Group, the Supreme Court today directed two of its companies to refund around Rs 24,000 crore to their investors within three months with 15 per cent interest per annum. In stinging observations against the companies...

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ompany Law Board while passing an order in the matter of Shri Rupak Gupta & Others v. M/s. Banaras House Pvt. Limited has taken a very serious note of the serious breach of duty by Notaries in the capital while attesting affidavits (like...

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The Special Judge for CBI Cases, Saket, New Delhi has today sentenced Shri O.S.Chauhan, IAS(UT-1967), Former Additional Commissioner of Sales Tax, Government of NCT, Delhi to undergo three years Rigorous Imprisonment with fine of Rs. Five Lakh in a disproportionate assets case.

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Every layman afraid from TDS because of difficult process of deduction, payment, Return, Statement etc. But we will try to make it simple as every layman can play with TDS. In this article we will discuss about What is eTDS return, how to file TDS Return, Where to file it, How to prepare it, software and documents.  If you have any query related to TDS return, ask in the comment form given below. We will try to solve your query as soon as possible. We have covered all amendment by finance act 2012, so you can say that the below article will be applicable for F.Y.2012-13 or A.Y.203-14.

What is e-TDS Return/Statement?

TDS Return/statement is a summary of all the transaction made during Quarter filed in the form of 26Q, 24Q, 27Q by computer readable media on CD ROM/PIN Drive as format described under Income Tax Act.

Who are liable to submit e-TDS Return/Statement?

The person who deducts TDS is liable to furnish eTDS Return. It is mandatory to file TDS Return within time as given below; otherwise they are liable to pay penalty for non-submitting of e-TDS Return. The following persons are required to file e-TDS return quarterly.

• Company
• Persons whose accounts Audited (See limit for Audit of Accounts)
• Govt. Officers

Preparation of e-TDS Statement Step by Step

1) TDS Return Software: First of all you need the software to prepare TDS return as the format given by e-Filing Adminsistrator/Income tax Department. You can find the data format on the official website of Income Tax Department i.e. www.incometaxindia.gov.in and e-TDS Intermediary’s website i.e. http://tin.nsdl.com. There is also software to validate the file which is prepared by TDS software. But you don’t need to download it, if you have purchased the TDS software from valid vendor. The e-tDS Intermediary (NSDL) has also provided the valid vendor of TDS soft wares. You can buy online or offline.

All software has its help file to prepare TDS return/statement. As we have experience, all software required to enter three entries after creation of master of payees/deductee and payers/deductors.

(a)    Credit or Paid Amount

(b)   TDS deducted on that amount

(c)    Challan detail of TDS payment

2) After Preparing and validating the .fvu file (e-TDS file after preparation), it will generate form 27A. You should Printout two copies of 27A.

3) The authorized signatory should sign on it.

4) Copy the .fvu file to Pen Drive or burn the CD. But confirm form your nearest TIN Facilitation centers for facility of Pen drives.

5) Now go to the TIN center with CD/Pen Drive and form 27A.

6) Pay the fee for process of TDS return (Rs.31 up to 100 deductees, Rs. 185 for maximum 1000 and minimum 101 deductees, Rs. 618 for more than 1000 deductees)

7) Now take the provisional receipt from TIN Center and you have done.

You don’t need to attach any document along with form 27A. Only non or lower deduction certificates should be attach in the case of salary TDS return (Form 24Q). Zip of file by Win Rar and Winzip Software is allowed.

We will cover the other aspects for return of TDS like Correction in TDS e-Return, how to use the software, Download online statements and TCS returns.

The period of August and September is normally very busy for the accounting as the finalisation of accounts is done by maximum companies in this period only. As the Finance heads are busy with the finalisations of the books of accounts, they may skip some of the important notifications which may...

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In the instant case, no where the assessee-firm is considered as the tenant. In the partnership deed dated 4-4-1990 also, it is stated that all rights over trade name, goodwill license and permits shall belong to the partners. It is the legal heirs of 'A' and 'V', who have continued to hold the...

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The question that arises for consideration in instant case is, whether the payment made by the assessee of Rs. 1.74 crore against the total amount of Rs. 3.61 crore, which included the interest of Rs. 1.83 crore under Section 220(2) and 234-B, was...

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The learned CIT(A) has tried to give a meaning to the definition as given in the Statute u/s. 194-I vis-à-vis the agreement for wagons investment scheme as has been perused in his order. Having reproduced the agreement and the definition of rent, he has not been to correlate the same for the simple...

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The Standing Committee on Finance has presented its report on Current Economic Situation and Policy Options to Parliament on August 30, 2012. The Committee has inter alia found that the investment climate in the country has suffered serious setback and investors confidence has been hit mainly...

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The Tribunal could not have rejected the cross objections without entering into factual matrix and being satisfied itself that the appellant had not in fact filed cross objections at the time when it could have originally filed them when the appeals had been filed before the Tribunal. This is also...

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ABHYUDAYA CO-OP BANK LTD TREASURY DEPT IFSC & MICR Code with Branch addressReviewed by Admin on Sep 2.Rating: Bank NameABHYUDAYA CO-OP BANK LTD Bank BranchTREASURY DEPT Bank Branch AddressABHYUDAYA BANK BLDG., B.NO.71, NEHRU NAGAR, KURLA (E), MUMBAI-400024 IFSC Code : ABHY0065001 MICR : 400065001

The process of doing business has changed over the last 2 decades across the globe. With the opening up of the gates of free trade and Liberization in the emerging economies married with technological advances in Developed nations the business has become more competitive rather than a challenge.

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