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Income tax department has said no action will be taken for a short deduction of TDS in case the assessee links his/her PAN with Aadhaar by May 31; Know how to link your PAN with Aadhaar
Tax deducted at source (TDS): While it is important to deduct a correct amount of TDS in certain transactions, it is also important to check the status of the deductee's PAN. If the TDS deductor does not check the status of PAN of the deductee on the date of TDS deduction then all the penalty and other legal repercussions would be applied to him and nobody else.
On finding that CIT(A) has failed to consider all submission of assessee and evidences placed on record, the New Delhi ITAT restored the matter back to file of AO for fresh adjudication regarding the...
As the fiscal year concludes, taxpayers are required to furnish evidence of their investments; the absence of such proof empowers the employer to levy a higher TDS in the closing months of the financial year.
The tax treatment of interest remains consistent regardless of whether the securities are listed on the stock market