I-T dept to step up prosecution against TDS defaulters

Last Updated: Tuesday, February 3, 2015, 16:27

Concerned over latest shortfall in TDS revenue collections, the Income Tax department has decided to enhance prosecution action against large defaulters with the help of its specialised electronic database and processing centre created for this exclusive task.

Shortfall in TDS collections: CBDT asks I-T dept to act

Last Updated: Sunday, February 1, 2015, 10:06

The board, according to sources, asked I-T officials to bolster their efforts and give special emphasis on tax collections under the Tax Deducted at Source (TDS) and Advance Tax categories.

Issue TDS certificates on time to customers: RBI to banks

Last Updated: Wednesday, November 6, 2013, 22:24

The RBI Wednesday asked banks to put in place systems to enable timely issuance of TDS certificates to their customers.

IT industry raises service tax, TDS issues with Shome panel

Last Updated: Thursday, August 8, 2013, 15:31

Amidst its tax woes, the IT industry raised issue of service tax refunds and interpretation on tax deducted at source (TDS) on softwares with Finance Ministry's high-level committee.

Failure to deposit TDS on time will attract penalty

Last Updated: Wednesday, June 5, 2013, 18:18

Failure to deposit timely and correct TDS or TCS will now attract a penalty ranging from Rs 200 to Rs one lakh by the Income Tax department.

Nokia tax appeal dismissed, co says disappointed with decision

Last Updated: Friday, May 31, 2013, 18:46

The company said it is examining all options, including going to Delhi High Court.

Chidambaram to launch CPC (TDS) on Saturday

Last Updated: Friday, February 22, 2013, 19:31

Finance Minister P Chidambaram will launch the Centralised Processing Cell for Tax Deducted at Source (CPC-TDS) tomorrow, a move likely to ease the compliance procedure for taxpayers.

Kingfisher moves SC on payment of TDS to IT department

Last Updated: Wednesday, January 16, 2013, 18:02

A bench headed by Chief Justice Altamas Kabir agreed to hear the case on Monday as senior advocate Mukul Rohatgi mentioned the matter before it.

I-T finds 'prima facie defaults' by Nokia in TDS deductions

Last Updated: Wednesday, January 9, 2013, 21:53

"Some more clarifications have been sought from the executives of the company," an I-T release said.

Bankers seek slew of tax incentives in next Budget

Last Updated: Tuesday, January 8, 2013, 23:01

Bankers have demanded tax sops like increasing the TDS limit on fixed deposit to Rs 25,000, incentives for investment in infrastructure bonds and a reduction in the lock-in period for tax saving deposits to three years.

TDS exempted on certain payments to reduce compliance burden

Last Updated: Friday, January 4, 2013, 23:12

The Revenue Department has exempted tax deduction at source (TDS) on certain payments like, bank guarantee commission and charges for warehousing services for commodities, to reduce compliance burden on businesses.

I-T dept asks private sector employers to file TDS by July 15

Last Updated: Tuesday, July 10, 2012, 19:25

The Income Tax department on Tuesday asked private sector employers to file their tax deducted at source (TDS) statement for the quarter ending June 30, on or before July 15.