CA CS ICWA TAX PROFESSIONALS PORTAL - Circular No. 01 /2014 – Income Tax -CLARIFICTION REGARDING TDS ON SERVICE TAX COMPRISED IN THE PAYMENTS MADE TO RESIDENTS

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CHAPTER XVII-B OF THE INCOME-TAX ACT, 1961 - COLLECTION AND RECOVERY
OF TAX - DEDUCTION AT SOURCE - CLARIFICATION REGARDING TDS UNDER CHAPTER XVII-B ON SERVICE TAX COMPONENT COMPRISED OF PAYMENTS
MADE TO RESIDENTS

CIRCULAR NO. 1/2014 [F.NO.275/59/2012-IT(B)] DATED 13-1-2014

1.The Board had issued a Circular No.4/2008 dated 28-04-2008 wherein it was clarified that tax
is to be deducted at source under section 194-I of the Income-tax Act, 1961 (hereafter referred
to as 'the Act'), on the amount of rent paid/payable without including the service tax component.

Representations/letters has been received seeking clarification whether such principle can be
extended to other provisions of the Act also.

2.Attention of CBDT has also been drawn to the judgement of the Hon'ble Rajasthan High Court
dated 1-7-2013, in the case of CIT (TDS) Jaipur v. Rajasthan Urban Infrastructure(Income-tax
Appeal No.235, 222, 238 and 239/2011), holding that if as per the terms of the agreement
between the payer and the payee, the amount of service tax is to be paid separately and was
not included in the fees for professional services or technical services, no TDS is required to
be made on the service tax component u/s 194J of the Act.

3. The matter has been examined afresh. In exercise of the powers conferred under section 119
of the Act, the Board has decided that wherever in terms of the agreement/contract between the
payer and the payee, the service tax component comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XVII-B of the Act on the
amount paid/payable without including such service tax component.

4. This circular may be brought to the notice of all officer for compliance.

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	File	Size	Date
	FORM 16 PART B AY 2014-15 EXCEL WITH FORMULAES NEW.rar	24.26 KB	07/12/2013	Download

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Kindly use NSDL e-Gov Return Preparation Utility (RPU) version 1.2 (JAVA based) for preparation of your e-TDS/TCS Statements. VB based NSDL e-Gov Return Preparation Utility (RPU) will be discontinued from TIN website with effect from September 24th, 2015

With effect from February 1, 2014, it is mandatory to submit Form 27A generated by TDS/TCS FVU (File Validation Utility) duly signed, along with the TDS/TCS statement(s). Any other Form 27A submitted will be treated as invalid submission and the same will be rejected by TIN-FC branches. (27/01/2014)

W. e. f. June 1, 2015, the PAN and TAN application fees have been revised as under

- For dispatch of PAN card in India:- 106 (inclusive of service tax)

- For dispatch of PAN card outside India:- 985 (inclusive of service tax)

- For TAN applications:- 63 (inclusive of service tax)

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NOTIFICATION NO. 4 / 2014 - INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - Orissa State AIDS Control Society

NOTIFICATION NO. 95 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - KERALA STATE AIDS PREVENTION SOCIETY

NOTIFICATION NO. 97 INCOME TAX - SECTION 35(1)(iii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS -Salim Ali Centre for Ornithology and Natural History , Coimbatore

MCA UPDATE

Verify Payment” facility has also been enabled for payments made through HDFC bank.

Payment of Stamp Duty on Articles of Association for increase in authorized capital of company having registered office in National Capital Territory of Delhi has become mandatory w.e.f. 01/08/2012 vide notification of The Indian Stamp (Delhi Amendment) Act, 2012 on 31/07/2012.

TDS CPC UPDATE

Online verification of Tds certificate has been enabled on Traces.

Users can verify the TDS Certificate on click of 'Verify TDS Certificate' link on

View TDS / TCS Credit page
'View Form 26AS page'

NOTIFICATION NO. 92 INCOME TAX - SECTION 43(5), CLAUSE (iii) OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 - SPECULATIVE TRANSACTION - RECOGNIZED STOCK EXCHANGE - Multi Commodity Exchange of India Limited, Mumbai

NOTIFICATION NO. 91 INCOME TAX - SECTION 43(5), CLAUSE (iii) OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 - SPECULATIVE TRANSACTION - RECOGNIZED STOCK EXCHANGE - Universal Commodity Exchange Limited, Mumbai

NOTIFICATION NO. 90 INCOME TAX - SECTION 43(5), CLAUSE (iii) OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 - SPECULATIVE TRANSACTION - RECOGNIZED STOCK EXCHANGE - National Commodity and Derivatives Exchange Limited, Mumbai

TDS- CPC UPDATE

Online Correction

Online Correction has been enabled on TRACES for FY 2013–14 for Deductors with valid Digital Signature

Deductors can file correction for PAN Errors Correction and Challan Correction

Deductors can navigate to 'Defaults' -> 'Request for correction'

Refer E-Tutorial for Instruction

Refunds of challans has been enabled on TRACES. Deductors can navigate to 'Statement / Payments' -> 'Request for Refund'

Registration of Digital Signature has been enabled on

TRACES for deductors. Refer e-Tutorial for detailed instruction.

Deductors can register their Digital Signature in PROFILE after registration.

PAO

PAO registration has been enabled on TRACES.

Refer e-Tutorial for detailed instruction.

PAO can view their Dashboard, Profile and Statement Status after registration.

NOTIFICATION NO. 80 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - INDIAN PLYWOOD INDUSTRIES RESEARCH & TRAINING INSTITUTE, BANGALORE

NOTIFICATION NO. 88 INCOME TAX - SECTION 80G(2)(c) OF THE INCOME-TAX ACT, 1961 - DEDUCTIONS - DONATIONS TO CERTAIN FUNDS, CHARITABLE INSTITUTIONS, ETC. - NOTIFIED SPORTS ASSOCIATION OR INSTITUTION - ARCHERY ASSOCIATION OF INDIA

NOTIFICATION NO. 87 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - TRIPURA STATE AIDS CONTROL SOCIETY

NOTIFICATION NO. 81 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - HAFFKINE INSTITUTE FOR TRAINING RESEARCH & TESTING, MUMBAI

NOTIFICATION NO. 78 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - MEGHALAYA STATE AIDS CONTROL SOCIETY

NOTIFICATION NO. 77 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - CHANDIGARH STATE AIDS CONTROL SOCIETY

NOTIFICATION NO. 69 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - RAJASTHAN ELECTRICITY REGULATORY COMMISSION

INCOME TAX EFILING UPDATE

Updated version of ITR 7 and Offline Forms (other than ITR) are available in the portal.Assessee may download and use the same.

The value 'M' in the field "Status of matching with OLTAS" of FORM 16 / 16A indicates that the details of the

challans reported by the deductor are yet to be verified.

While generating Form16 / 16A, if you are getting a message as "0 PDF files generated successfully", please

download the updated version of the PDF converter utility 1.3L

NOTIFICATION NO. 66 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - Karnataka State AIDS Prevention Society

Remuneration payable to the Statutory Auditors of Regional Rural Banks from the year 2012-13

Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2012-13

Circular No.06 /2013 Income Tax (amending Circular No.03/2013 dated 26th March,2013)

NOTIFICATION NO. 65 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - THE INDIAN INSTITUTE OF TECHNOLOGY GANDHI NAGAR

NOTIFICATION NO. 62 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT), NEW DELHI

NOTIFICATION NO. 55 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - UTTRAKHAND STATE AIDS CONTROL SOCIETY

NOTIFICATION NO. 60 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 - SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - NATIONAL INSTITUTE OF MENTAL HEALTH AND NEURO SCIENCE (NIMHANS) BANGALORE

Assesses who have not filed their ST-3 returns for the period October,12 to March,13

by the due date are requested to file it along with late fee liable to be paid under

Rule 7C of Service Tax Rules, 1994.

Buyer of immovable property can download

Form 16B after registering on TRACES as Tax Payer

NOTIFICATION NO. 48 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - ODISHA ELECTRICITY REGULATORY COMMISSION

NOTIFICATION NO. 49 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - HIMACHAL PRADESH ELECTRICITY REGULATORY COMMISSION

NOTIFICATION NO. 52 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - GUJRAT STATE CONTROL AIDS SOCIETY

RBI discloses the names of applicants for new bank licences in the private sector

TDS-CPC HEADLINES

Justification Report:

Justification Report has been enabled now for FY 2012-13 and Form Type 24Q

Deductors facing issues with justification report conversion are requested to download the latest justification report utility and submit the request again

Deductors can submit request for downloading Justification Request from FY 2007-08 onwards

TDS certificate in Part A of Form 16 shall be generated for only those pans that have been reported in Annexure II of 24Q statement for 4th.quarter.The deductors are therefore advi- -sed to ensure that they provide salary details of their employees employed for whole or part of year Annexure –II of Quarterly TDS statment of 4th quarter

The tax deducted and paid under section 194IA of I T Act can be viewed online by the seller of the immovable property in their Form 26AS (Tax credit statement) from 22nd July, 2013 onwards

Deductors are advised that the demand raised in the intimation u/s 200A can be closed by making payment and filing the corresponding correction statement

For any type of correction in challan, contact your respective Jurisdictional Assessing Officer

Intimations u/s 200A of the Income Tax Act, 1961 for the statements filed during the Financial Year 2012-13 are being sent from TDS CPC

Levy u/s 234E of the Income Tax Act, 1961 is a statutory levy and cannot be waived

E-TUTORIAL NSDL CONSO FILE DOWNLOAD

To receive Email intimations from TRACES,

please add intimations@tdscpc.gov.in to the

address book / contact list of your registered

Email Id

NEW @ TIN

Facility for payment of PAN application fee in Indian Rupees & foreign currency by foreign citizens/NRIs using 'Credit Card/Debit Card' is now available for those applicants who apply PAN online. (03 August, 2013)

As advised by Income Tax Department:

TIN will accept TDS/TCS statements only pertaining to Financial Year 2007-08 and onwards.

Statements for Financial Years upto 2006-07 will not be accepted at TIN.

Acceptance of 'Y' type of correction TDS/TCS statements have been discontinued at TIN

The above is with effect from July 1, 2013.

TARRIF NOTIFICATIONS OF CUSTOMS IN YEAR 2015

Tariff Notifications of Central Excise in year 2015

CBDT INSTRUCTION No. 5/2013 dated 08.07.2013 - (10/07-2013)

CBDT (INSTRUCTION NO. 7/2013) Payment of Interest u/s 244A of Income Tax Act 1961 when assessee is not at fault

ICAI President meets President of India ||

ICAI International Conference - November, 2013

ICAI e-Journal in Indexed Mode - (16-07-2013)