Posts Tagged ‘TDS’

TDS Reconciliation Analysis and Correction Enabling System

TDS Reconciliation Analysis and Correction Enabling System

Your Income tax has been deducted in excess or yet there is no news of a refund? Now you can view form 26AS Tax credit statement online. Income tax department has launched TRACES – TDS Reconciliation Analysis and Correction Enabling System. TRACES is a web-based application of the Income Tax Department that provides an interface to all stakeholders associated with TDS administration. It enables viewing of challan status, downloading of NSDL Conso File, Justification Report and Form 16 / 16A […]


New Tax twist you must know!

New Tax twist you must know!

2012 is about to end, its time for doing celebration and you might have started preparation of New year party or Christmas.   It is certainly not the time of year when you would pay attention on Tax saving or planning. But typically, organizations ask their employees to submit their investment declaration between December and early-to-mid January. This is because most of the organizations deduct tax from salaries in January, February and March. Based on deadline set by your employer you […]


No need to file income tax returns if ?

No need to file income tax returns if ?

31st July is approaching soon and millions of tax payers are worried about filing income tax returns. However this year not everyone has to go through tax filing procedure. The Central Board of Direct Taxes (CBDT) has exempted salaried employees from the requirement of filing the returns for assessment year 2012-13. The exemption from filing I-T returns is applicable only if “the total income of the employee does not exceed Rs 5 lakh and all following conditions are fulfilled. 1. […]


How To File Your Income Tax Return Online

How To File Your Income Tax Return Online

The Central Board of Direct Taxes (CBDT) has recently issued a notification which has made it mandatory for individuals earning an annual income above INR 10 lakhs to file their Income Tax Returns online, from the current Financial Year 2011-12 (Assessment Year 2012-13) onwards. Filing income tax returns is something everyone fears & now filing it online many people may be wondering how to do that?  So we are herewith guide to help you for filing your I-T returns online, […]


TDS on Real Estate to check unaccounted money

TDS on Real Estate to check unaccounted money

In order to find source of unaccounted money entering in to real estate, government has proposed one percent TDS (tax deduction at source) on transfer of immovable property. 1 % TDS to be deducted if sale value of property exceeds Rs. 50 Lakh in urban area (City) and Rs.20 Lakh in Rural area. All immovable properties, other than agriculture land would be covered under this provision. This rule shall be applicable from October 1st, 2012. So in urban area on […]