Issue of TDS Certificate in Form 16A – to be generated from TIN Central System

Income-tax /

The CBDT vide its circular No 03/2011 dtd 13.05.2011 had stipulated that Form 16A in respect of tax deducted at source on or after 01/04/2011 shall be mandatorily downloaded from TIN website (with unique TDS Certificate Number) in case of company including banking company ,banking institution,co operative society engaged in banking business. For other deductors

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Rate of Depreciation on Windmills reduced to 15%

Income-tax /

The Income tax department,vide its Notification No 15/2012 dtd 30/03/2012 has restricted the rate of depreciation on windmills from 80% to 15% w.e.f. 01/04/2012. The relevant Notification is reproduced below :- Income-tax (Fourth Amendment Rules, 2012 – Depreciation restricted to 15% on wind mills installed after 31-3-2012 Notification No. 15/2012 [F.No.149/21/2010-SO(TPL)] S.O.694(E), dated 30-3-2012 In

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All about Tax deduction at Source (TDS) on Immovable Property Transfers

1 Comment / Income-tax /

In the recent Budget presented in the parliament, the finance minister has introduced a new provision in the Income-tax Act,1961 , wherein certain property transfers were brought into the ambit of Tax Deduction at Source. This move by the Government of India is aimed at not only increasing the revenue for the Government but also

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New Income-tax return forms for the year 2011-12 (A.Y.2012-13) notified

2 Comments / Income-tax /

The Central Board of Direct Taxes vide its Notification dtd S.O. 626(E) dtd 28th March 2012 has notified new return forms (manual forms) for the previous year 2011-12 (Assessment Year 2012-13).   Form No Applicable to Download Link ITR-1 SAHAJ Indian Individual [wpdm_file id=8] ITR-2 For Individuals and HUFs not  having Income from Business (or)

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