Form 16B

Form 16B

Form 16B is a TDS Certificate which reflects that the amount deducted as TDS on Property by the Buyer has been deposited with the Income Tax Department. At the time of sale of immovable property, the buyer is required to deduct TDS on Property @ 1% from the amount he has to pay to the seller. This amount is then […]

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How to file Revised TDS Return?

How to file Revised TDS Return?

TDS Return is required to be filed with NSDL by the person deducting the TDS at regular intervals. After submission of the form, if the deductor realises that there is some error or some new details are required to be added, he can file a Revised TDS Return for updating the existing return We have earlier explained the procedure for […]

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TDS on Property Sale @ 1% under Section 194IA

TDS on Property Sale @ 1% under Section 194IA

The Indian Finance Minister P. Chidambaram while announcing the Budget 2013-14 introduced TDS on Property @ 1% on all Immovable Property Transactions over Rs. 50 Lakhs under Section 194IA. Reason for Introduction of TDS on Property P. Chidambaram while introducing TDS on Property said that Transactions of Immovable Property are usually undervalued and under-reported. Almost half of the Transactions don’t even […]

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TDS Return Filing Online: Due Date and Procedure for Filing

TDS Return Filing Online: Due Date and Procedure for Filing

TDS Return is required to be filed by the assessee who has deducted the TDS. TDS Returns are required to be filed after specified intervals and details to be furnished in these returns include fields like TAN No., TDS Payment, amount deducted, type of payment, PAN No. etc. Recommended Read: Procedure for deposit of TDS Payment online TDS Return Form […]

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ICAI CPE Hours Credit for CA’s from 2014 to 2016

ICAI CPE Hours Credit for CA’s from 2014 to 2016

Chartered Accountancy is a profession wherein you have to continuously keep updating your knowledge so as to stay abreast with the latest changes. To ensure that CA’s continuously keep updating their knowledge, ICAI has made Continuing Professional Education (CPE) mandatory for all CA’s. All CA’s are required to their keep updating their knowledge and complete a specified number of CPE […]

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