Daily Archives: December 15, 2015

TDS on Income from Pension

TDS on Income from Pension In the case of pensioners who receive their pension (not being family pension paid to a spouse) from a nationalized bank, the instructions contained in this circular shall apply in the same manner as they apply tosalary-income. The deductions from the amount of pension under section 80C on account of… Read More »

Right of Employee to get TDS Certificate

Section 203 of Income Tax Act and TDS Certificate Furnishing of Certificate for Tax Deducted Section 203 requires the DDO to furnish to the employee a certificate in Form 16 detailing the amount of TDS and certain other particulars. Rule 31 prescribes that Form 16 should be furnished to the employee by 31st May after… Read More »

compounding of Offences in case of undisclosed foreign bank accounts /assets c

CENTRAL BOARD OF DIRECT TAXES LETTER [F.NO.285/90/2013 IT(INV.V)/212], DATED 4-9-2015 Doubts have been expressed by the field formation as to whether offences relating to undisclosed foreign bank accounts /assets could be compounded as per the extant guidelines of the Board dated 23-12-2014. The matter has been examined in consultation with the Special Investigation Team (SIT).… Read More »