| Tax deduction from salary to employees not having PAN-Section 206AA Posted: 12 Jul 2010 10:20 AM PDT 
Some of our employees do not have PAN. Under section 206AA, tax is deductible at a minimum rate of 20 per cent. I want your opinion about the quantum of TDS under section 192 in the following cases – In some cases, salary income is just Rs. 10,000 per month (Rs. 1,20,000 per annum). It is less than Rs. 1,60,000. Should we deduct tax at the rate of 20 per cent? In some cases, salary is more than Rs. 1,60,000 but after deductions under Chapter VI-A, the resulting income is below Rs. 1,60,000.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Tax treatment of notice pay in Income Tax Posted: 12 Jul 2010 10:16 AM PDT 
An employee has joined in the marketing department recently. Before joining our company, he was with a consultancy company at Chennai. Our company has paid one month notice pay to him. It is paid by the employee to the old employer. However, the old employer does not want to deduct the notice pay from the salary paid to the employee. Can we deduct notice pay from the salary to be paid by our company during the current financial year in Form No. 16 ? If the old employer and our company do not... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Payment to transport contractors without TDS deduction -Not to report in etds return Posted: 12 Jul 2010 10:13 AM PDT 
We make payment to transport contractors. Most of them have intimated their PANs and, consequently, tax is not deducted under section 194C. Please clarify whether such payments should be shown in quarterly e-TDS returns in Form No. 26Q. Moreover, it is given in the law that information pertaining to non-deduction of tax in the case of transport contractors intimating PAN, should be submitted to the department in the prescribed form. In which Form No. this information should be given to the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Internal Error!!!!!Please try after some time or contact IT Administrator is the problem persists Posted: 12 Jul 2010 09:02 AM PDT 
"Internal Error!!!!!Please try after some time or contact IT Administrator is the problem persists" Do you have a problem of above nature ,while registering your pan at incometaxindiaefiling site .Then you come to right place for the solution .The solution is very simple .Use Internet explorer as browser .This problem is in Google Chrome Browser or Safari browser.Further I have not tried Firfox but Sure about the problem that this error comes when we use Google chrome. so while... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Maximum 6000 penalty for discontinue of Ulip Before 5 years :IRDA Posted: 12 Jul 2010 07:25 AM PDT 
Insurance regulator IRDA today said ULIP holders will have to pay up to Rs 6,000 if they want to discontinue a policy within the first four years. The IRDA (Treatment of Discontinued Linked Insurance Policies) Regulation, 2010, released by the sectoral watchdog today said the charges for discontinuation of ULIPs will range from Rs 1,000-Rs 6000, depending upon the premium paid by the policy holder. When the policy is discontinued during policy years one to four, the holders of the policy... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
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