பணம் பெற்று வழங்கக்கூடிய அதிகாரிகள் தங்களுக்கு பணியாற்றுகின்ற பணியாற்றுகின்ற பணியாளர்களுக்கு TDS செய்து   form 16 தரவில்லை என்றால் 

என்ன நடக்க வாய்ப்பு  ?என்பதை பற்றி தெரிந்து கொள்வோம்.

1.
பணியாளர்கள் தங்களதுவருவாயைப் குறிப்பிட்ட கால நேரத்தில் படிவம்  16 பயன்படுத்தாமல் இன்கம்டாக்ஸ் ரிட்டன் செய்யும்போது அவர்களின்     பணம் வரவில்லை என்று இன்கம்டாக்ஸ் டிபார்ட்மெண்டில் இருந்து நோட்டீஸ் வரும்

2.
சம்பந்தப்பட்ட பணம் வரவில்லை என்பதால் அதற்கான வட்டி வட்டியுடன் சேர்த்து  234b and 234c  வாய்ப்பு

3.
சார்ந்த அரசு ஊழியருக்கு ஏற்படும் மன வருத்தம்

4 தேவையற்ற அலைச்சல்கள் மற்றும்வேலைப்பளு

எனவே இத்தகைய பிரச்சனை குறைப்பதற்காக சம்பளம் பெற்று வழங்கக்கூடிய அதிகாரிகள் யார் யார் என்னென்ன தகவல்கள்   கீழே உள்ளவாறு

சம்பளம் பெற்று வழங்கக்கூடிய உயர்நிலை மற்றும் மேல்நிலைப் பள்ளி தலைமை ஆசிரியர்கள் தங்களுக்கு கீழ் பணியாற்றுகின்ற ஆசிரியர்கள் மற்றும் ஆசிரியரல்லாத பணியாளர்களுக்கு    வரி பிடித்தம் செய்யப்பட்ட தொகையை TDS பதிவேற்றம் செய்து அரசு உயர்நிலை மற்றும் மேல்நிலைப் பள்ளி தலைமை ஆசிரியர்கள் கீழ் உள்ள ஆசிரியர் மற்றும் ஆசிரியரல்லாத பணியாளர்களுக்குஉண்மை FORM 16 வழங்க வேண்டும்


தவறும் பட்சத்தில் இன்கம்டாக்ஸ் விதிகளின்படி அவர்களது தண்டத்தொகை as aper photo மற்றும் சில பிரச்சனைகள் வர வாய்ப்பு உள்ளது என்று தெரியவருகிறது.



இதேபோன்று அரசு தொடக்கப் பள்ளிகள் மற்றும் அரசு உதவி பெறும் தொடக்கப் பள்ளிகளுக்கு சம்பந்தப்பட்ட வட்டார கல்வி அலுவலர்


அரசு உயர்நிலை மற்றும் மேல்நிலை உதவி பெறும் பள்ளிகளுக்கு சார்ந்த மாவட்ட கல்வி அலுவலர் அவர்கள் படிவம் 16 வழங்கப்பட வேண்டும் என்பதும் தெரிய வருகிறது


எனவே இன்கம் டேக்ஸ் டிபார்ட்மென்ட் சென்னைவந்துள்ள ஒரு குறிப்பு மட்டும் இங்கு இணைக்கப்பட்டுள்ளது எனவே அந்த குறிப்பினை டவுன்லோடு செய்து பயன்படுத்தலாம்

Click to download 2019 Income tax notification

income tax e filing செய்து பணம் திரும்ப பெறுபவர்கள் எந்த Bank கொடுத்தோமோ அந்த Bank ல் தங்களுடைய பேன்கார்டு பதிவு செய்ய வேண்டும் அப்படி பதிவு செய்தால் மட்டுமே உங்களுடைய பணம் அந்த வங்கிக்கு வரும் இல்லையென்றால் march முதல்  வராது

வரி பிடித்தம் செய்பவர் சரியாக TDS பதிவு செய்து Form 16 கொடுக்காவிட்டால் என்ன நடக்க வாய்ப்பு ? ஒரு பார்வை

வரி பிடித்தம் செய்பவர் சரியாக டிடிஎஸ் TDS பைல் பண்ண வில்லை என்றால் என்ன நடக்க வாய்ப்பு உள்ளது ? சிறைதண்டனை வாய்பா ?ஒரு பார்வை ! !!!!!!!!

சந்தேகத்திற்கு விளக்கம் மட்டுமே!!!!! 

மற்றும் INCOME TAX அலுவலக முகவரி கீழே முகவரி 

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mayankmohanka
1 year ago
Income Tax Prosecution Provision u/s 276B needs a review
Revenue Authorities must review this existing stringent provision u/s 276B of the Income Tax Act and must consider doing appropriate modifications/changes in it so as to enable an effective action against the willful and habitual tax evaders only and not against the bonafide assessees who create wealth for the Nation.



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Mayank Mohanka

Review of the Existing Prosecution Provision u/s 276B of Income Tax Act, 1961- Need of the Hour to Take Taxpayer Friendly Initiative

Legislature, by the insertion of Chapter XVII-B in the Income Tax Act, 1961, has casted the responsibility of deducting and depositing Tax at Source (TDS) in relation to the income of the recipient, upon the payer of such income and as such the statutory onus and burden of the Exchequer has been shifted to the payer of income who happens to be an assessee. In the FY 2015-16, TDS constituted approximately 42 % of the nett. income tax collections and 36% of the gross income tax collections. Pre-Assessment Tax Collection Measures in the form of TDS, Advance Tax and Self Assessment Tax constituted approximately 85% of the gross income tax collections of Rs 8.64 lakh crores. Interestingly, for discharging this statutory responsibility of the Exchequer, the assessee does not get rewarded in any manner. In-fact to the contrary, a failure or default in discharge of this burden, even an unintentional one, results in some very dire consequences including prosecution also.

Section 276B of the Income Tax Act, 1961, providing for the prosecution provision in case of default in payment of TDS under Chapter XVII-B and Chapter XII-D, was inserted by the Finance Act, 1968, for the first time by the legislature.

The text of section 276B as inserted by the Finance Act, 1968 is reproduced as under:


“276B. If a person, without reasonable cause or excuse, fails to deduct or after deducting fails to pay the tax as required by or under the provisions of sub-section (9) of section 80E or Chapter XVII-B, he shall be punishable with rigorous imprisonment for a term which may extend to six months, and shall also be liable to fine which shall be not less than a sum calculated at the rate of fifteen per cent per annum on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid].”

The provisions of section 276B of the Income Tax Act, have undergone multiple changes since last 5 decades and presently this section as per Finance Act 2017, reads as under:

“276B. If a person fails to pay to the credit of the Central Government, the tax deducted at source by him as required by or under the provisions of Chapter XVII-B, he shall be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to seven years and with fine.”

The journey which this section 276B of the Income Tax Act, 1961 has transcended over the last 5 decades is clearly not in favor of the assessee and is not taxpayer friendly.


A perusal of the afore-stated legal position as enshrined u/s 276B, at two points of time i.e. at the time of its insertion in 1968 and at present in 2017, makes it abundantly clear that this provision has been made more stringent and more harsh with the passage of time.

This is evident as under:

(i) the expression “without reasonable cause or excuse” which was very much an integral part of the section at the time of its insertion in 1968, and is in line with the cardinal principal of equity, justice and good conscience has altogether been omitted at present.

(ii) the maximum tenure of imprisonment has been increased from 6 months to 7 years.

However, there is a non obstante provision as contained in section 278AA of the Income Tax Act, 1961, which clearly provides that no person shall be punishable for any failure referred to in section 276B if he proves that there was a reasonable cause for such failure.

There is a well known maxim which goes as “with great power comes greater responsibility.” The Power to Prosecute must be used judiciously, rationally and with due application of mind to meet the ends of justice.

The prosecution for default in paying TDS to the credit of the Central Government did not automatically follow such default and the provision had, therefore, been made under Section 279 of the Income-tax Act for sanction to be granted for such prosecution by the Chief Commissioner. It had repeatedly been held by the courts that whenever the decision was left to the subjective satisfaction of a statutory authority, it necessarily implied that such authority was required to apply its mind to all relevant factors before arriving at a decision. The grant of sanction for launching prosecution is a very serious & extreme measure having serious consequences which entailed proper exercise of discretion upon consideration of all relevant materials, including mitigating circumstances in favor of the defaulter.

However, unfortunately, the present day tendency has become to put undue pressure for tax collections for meeting out budgetary targets for improving service records, by using the window of prosecution. This was clearly not the Legislative Intent behind insertion of Prosecution Provisions in the Income Tax Act, 1961.

Surprisingly and Shockingly, the Current Legal Provisions and the CBDT guidelines, w.r.t. section 276B of the Income Tax Act, concerning the default in payment of TDS in time, entails very serious and harsh consequences. Presently, there are numerous instances, where even for a delay of 2-3 months in depositing the TDS with the Exchequer, Prosecution Proceedings u/s 276B are being launched. This high handed approach is clearly not justifiable and desirable.

The present framework of law in the context of section 276B of the Income Tax Act, treats every assessee who has defaulted in payment of TDS, on equal footing, irrespective of the severity of default. This is totally unwarranted and uncalled for.

For judicious, equitable and effective implementation of the Prosecution Provision u/s 276B of the Income Tax Act, first and foremost, the defaulters must be categorized into different categories based on the nature and severity of default in terms of quantum, duration and intent parameters and depending upon the severity of the default, the penal consequences must follow.

In making these categorizations, the element of subjectivity within the categorization must be altogether done away with. Instead the entire categorization exercise must be standardized as is being done in Computer Assisted Scrutiny Selection (CASS).

In determining the categorization of defaulters, the status of pendency or otherwise of the regular undisputed income- tax refund of the defaulter assessee deserves to be given a significant and major consideration.

This can be better explained in terms of 2 Hypothetical Scenarios as under:

Scenario 1. An assessee X, defaults in deposition of TDS amounting to Rs 20 Lacs, and even after the lapse of more than 12 months, he has not deposited the principal TDS amount as well as the penal interest. No income tax refund is pending in his PAN.

Scenario 2. An assessee Y, defaults in deposition of TDS amounting to Rs 20 Lacs. He deposits the principal TDS amount as well as the penal interest @ 1.5% per month after a delay of 6 months. However, his regular undisputed income-tax refund of more than Rs. 20 Lacs or much more than Rs. 20.00 Lacs is also pending with the Exchequer, and it remains pending through-out the period of default in payment of TDS by him and thereafter.

In this case, assessee X in scenario 1 is obviously a willful defaulter and appropriate penal actions against him are warranted.

However, the question arises in the case of assessee Y in scenario 2. Whether it will be justifiable or rational to consider assessee Y as an assessee in default u/s 201 and whether it is lawful to launch prosecution proceedings u/s 276B against him. Going by the true legislative intent and the dictum of principle of natural justice, the answer shall be “NO” only.  This is because, in real and effective terms, at no point of time, there is outstanding income-tax demand against assessee Y. The TDS demand of assessee Y can very easily be adjusted against his pending regular income-tax refund and so assessee Y must not be considered as an assessee in default and the question of launching of prosecution proceedings against assessee Y must not arise, more so when he has paid the principal TDS along with the penal interest @ 1.5% per month, whereas he is entitled for a comparatively very less interest on his income-tax refund @ 0.5% per month only.

The afore-stated hypothetical scenario 2, ironically reflects the clearly evident lack of level playing field for the assessee. This is so because, if there is some default in payment of TDS in time by the assessee, he is liable to pay penal interest @ 1.5% per month and also suffers the dis allowance of corresponding expenditure in computation of his taxable income. To add to that, he is also exposed to prosecution u/s 276B of the Income Tax Act and to avoid that the assessee is forced to apply for compounding wherein he is supposed to pay additional interest @ 3% per month along with the applicable compounding charges.

As opposed to this, if there is a delay in granting the income-tax refund by the Exchequer to the assessee, all he can hope for is a compensating interest @ 0.5% per month and that too after a lot of follow-up and litigation. There is no provision in Law for compounding against the Exchequer. No prosecution can be launched against the Exchequer and unlike the assessee, the Exchequer can’t be considered as an Exchequer in default.

There are cases, where the outstanding income-tax refund of the assessee is 3-4 times as that of his TDS liability. In such cases, the delay in granting the due income tax refund to the assessee impacts the business & the financial capability of the assessee very severely & adversely & also results in the credit facilities of the assessee becoming NPAs much to the detriment of the Exchequer as well as the assessee. In such cases, it would not be wrong to contend that the assessee’s inability to deposit the TDS in time, is primarily because the Exchequer has not provided his due income tax refund. In such cases, even if the Exchequer launches prosecution, it is not likely to sustain in the Court of Law & rather it will be difficult for the Exchequer to defend its own delay in granting refund of income tax to the assessee.

In order to restore some balance, atleast in cases where there is default in payment of TDS but simultaneously the regular income-tax refund is also pending in the name of the assessee, then the assessee must be given an option to get its outstanding TDS demand adjusted against its pending income tax refund and this will enable the recipient of income also to obtain his TDS credit in time. Currently, even after penalizing the deductor for his default in deposition of TDS by way of levy of penal interest @ 1.5% per month and dis allowance of the corresponding expenditure and further more by subjecting him to compounding @ 3% per month in lieu of launching prosecution proceedings u/s 276B, no credit of TDS is being made available to the recipient of income. Thus, in true spirit, the whole purpose of subjecting the deductor to all these stringent repercussions gets defeated.

Furthermore, the online Form 26AS in which the credit of TDS being deducted from the income of the recipient, is reflected, instead of serving as a taxpayer friendly initiative, is infact causing undue hardship to the recipient of income. This is because, currently there are numerous instances where due to the inherent processing deficiencies in this online system, the TDS credit does not get reflected even after the same has been deposited by the deductor and the deductee gets deprived of his lawful TDS credit. Unfortunately, currently the non reflection of even the duly deducted and deposited TDS in online Form 26AS, is being used as a blanket excuse for not giving the fully lawful TDS credit. Before the induction of this online system, based on the manual TDS certificates, the deductee was atleast able to claim his otherwise lawful TDS credit. The vigour, aggressiveness and willingness as shown by the Exchequer in penalizing the Tax Deductor must also be reflected in giving hindrance free TDS credit to the deductee.

All what is required is a proper co-ordination between the TDS Wing and the Assessment Wing of the Exchequer and the removal of the procedural bottlenecks and streamlining of the functional capacities of the Exchequer. Currently u/s 245 of the Income Tax Act, the outstanding income tax demand of the assessee is being adjusted against his income tax refund. The same must also apply to the adjustment of the pending TDS demand as reflected in Traces against income tax refund. This will lead to the much needed avoidance of undue hardship to both the payer of income and recipient of income. Also, it will result in substantial reduction in the administrative work-load of the Exchequer and will enable it to direct its time and energy in harnessing tax revenues in a more efficient and productive manner.

An assessee who has deposited the deducted TDS with penal interest and has filed the TDS Returns, must not be considered as a defaulter anymore. He can’t be equated with a Tax Evader.   Thousands of such prosecution notices are being sent by the Exchequer to the Business Community across the country w.e.f. FY 12-13. There are thousands of cases, wherein the  harassment of Law abiding assessees, becomes clearly evident. Even the Exchequer is also being burdened un-necessarily.

Therefore, keeping in view the above, the concerned Revenue Authorities must review this existing stringent provision u/s 276B of the Income Tax Act and must consider doing appropriate modifications/changes in it so as to enable an effective action against the willful and habitual tax evaders only and not against the bonafide assessees who create wealth for the Nation. Then in true spirit, the Government’s Objective of enabling and facilitating Ease of Doing Business will be accomplished.

(The author can be reached at mayankmohanka@gmail.com)

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Categories: Income Tax
     
View Comments (4)
Sekaran says: January 28, 2018 at 11:15 am
The article is very long.
Actually The India Post is one of the major bodies which is still not properly organized to act efficiently. The tax dedn for the Q4 is never deducted by them.The onus is transferred to the customer. Is that justified? It is certainly not a great convenience to the public. Instead the senior citizens responsibility! Why this laxity granted to a govt body?

pradeep says: January 28, 2018 at 5:13 pm
all the tax professionals should ask govt to change the sec 276B to penalty of TDS not deducted by the deductor along with details of deductees so that while deductor is punished for his default, department is furnished the details of parties who might have concealed their income particulars as well. so if tds defaults are made good as deductors financial liability only whether or not he collects from parties like sales tax, it will increase revenue and govt will be able to capture defaulters

Vijay EngineersVijay Kumar says: January 29, 2018 at 7:42 am
Panelising is a negative thinking. Government has a right to get Income Tax, but panelising is no way. Even if Penalisuing is required, it should be very minimal. In Income Tax law, non filing of TDS and TCS returns attracts Rs. 200/- per day as Late Filing Fees or Penalty. Does this sound OK? No interest is chargeable/payable for 10% of the Income Tax, what to talk of the Late filing charges. GOVERNMENT SHOULD CONSIDER THESE NEGATIVE RULES.

Abhinandan Jain says: August 30, 2018 at 7:05 pm
What will be remedy handling prosecution Notice if the TDS default has been paid along with Interest and even excess in comparison to what the dept is demanding.Whether such prosecution proceeding to be concluded only by compounding u/s 279 (2) or there is another remedy for this.(Talking about 1st time offence)

Failure to pay the tax collected at source

"276BB. If a person fails to pay to the credit of the Central Government, the tax collected by him as required under the provisions of section 206C, he shall be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to seven years and with fine.".

DDO - INCOME TAX- TDS (TAX DEDUCTING SOURCE)

Tax deduction source
TDS INCOME TAX AY 2019-20 CLICK DOWNLOAD

 சம்பளம் வழங்கும் அதிகாரிகளுக்கு அறிவுரை சார்ந்து Income Tax Department TDS சம்பந்தமாக வழங்கியுள்ள அறிவுரை. Fy 2018-2019 Ay 2019-2020.

1. இதில் பணியாளர்களுக்கு மாதாமாதம் இன்கம்டாக்ஸ் பிடித்தம் செய்தல்

2. TDS முக்கியமான சில குறிப்புகள்


3. Important of  PAN & TAN

4. TDS  பதிவு செய்யாத போது ஏற்படும் தண்டத்தொகை

5. Form 16 A &B வழங்குதல் சார்ந்து

6. 24Q. எப்போதெல்லாம் காலாண்டுகள் மற்றும் ஆண்டுவாரியாக பதிவேற்றம் செய்யப்படும் என்ற தகவல்கள்

7. செய்ய வேண்டியது மற்றும் செய்யக்கூடாது என்பதற்கான விளக்கங்கள்

8. உத்தேச வருமானம் அதற்கான வரி பிடித்தங்கள் சார்ந்து

9. வரிவிலக்குப் பெற்ற சம்பளம் மற்றும் இதர விளக்குகள்

10. இந்த ஆண்டிற்கான கழித்தல் செய்வதற்கான அளவீடுகள்

11. பணியாளர்கள் தங்களதுபடிவத்தில்  வீடு வாடகை மற்றும் கூடுதலாக வரக்கூடிய வரவுகளை காண்பிக்கும் போது

12. பணியாளர்கள் ரிட்டன்ஸ் செய்யும் காலம் அதற்கான தண்டத்தொகை

Department issued TDS that means tax deduction source

TDS INCOME TAX AY 2019-20 CLICK DOWNLOAD

யார் யார் பொருப்பு ?


பள்ளிக்கல்வி பொருத்தவரை தொடக்கக் கல்வி அரசு உதவி பெறும் தொடக்கப்பள்ளி வட்டார கல்வி அலுவலரும்

அரசு உயர்நிலை மற்றும் மேல்நிலைப் பள்ளிகளுக்கு சம்பந்தப்பட்ட தலைமை ஆசிரியர்களும்

அரசு உதவி பெறும் உயர்நிலை மற்றும் மேல்நிலைப் பள்ளிகளுக்கு மாவட்ட கல்வி அலுவலர் அவர்களூம்

மற்றும் அதை சார்ந்த கல்வி அலுவலகங்களுக்கு அந்தந்த சம்பளம் பெற்று வழங்கக்கூடிய அதிகாரிகளும் பொறுப்பு ஆவார்கள்

Cps -ல் கட்டும் தொகையை income tax -ல் 80ccd -1b ல் ரூபாய் 50000 வரை கழித்து கொள்ளலாம் RTI AND LETTER

Cps -ல் கட்டும் தொகையை income tax -ல் 80ccd 1B-ல் ரூபாய் 50000 வரை கழித்து கொள்ளலாம் RTI AND LETTER

சரண் விடுப்பு இருந்து வரக்கூடிய பணப்பலன்கள் வரிக்கு உட்பட்டது

சரண் விடுப்பு இருந்து வரக்கூடிய பணப்பலன்கள் வரிக்கு உட்பட்டது அல்ல என்ற சில கருத்துக்கள் பரவி வருகிறது ஆனால் 1 ஜனவரி 2019ஆம் ஆண்டு INCOME TAX  துறையால் வெளியிடப்பட்டுள்ள குறியீடுகளில் கூடுதலான வருமானம் என்பது தெளிவாக காட்டுகிறது எனவே சரன் விடுப்பு எடுப்பான வரிகளுக்கு உட்பட்டது என தெள்ளத்தெளிவாக தெரிகிறது அதற்கான இணைப்பு இணைக்கப்பட்டுள்ளது

Rs200000 மேல் வங்கிகளில் ரொங்கமாக பரிவர்த்தனை செய்யவேண்டாம் என்று தகவல்

All about Cash receipt exceeding Rs 2,00,000 under Income Tax Act

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There are various provision inserted via Finances Act to put a limit on Cash Transaction for a check on Black Money and Tax Theft, below are the following provision applicable to Assesses (Liable for Audit u/s 44 AB of the Act)

SECTION 269ST

PROVISION OF SECTION 269ST:

No person shall receive an amount of two lakh rupees or more—

(a) in aggregate from a person in a day; or

(b) in respect of a single transaction; or

(c) in respect of transactions relating to one event or occasion from a person, otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account.

EXCEPTIONS provided to following entity from above Provision:

(a) Government;

(b) Any banking company, post office savings bank or co-operative bank;

(c) Transactions of the nature referred to in section 269SS;

(d) Such other persons or class of persons or receipts, which the Central Government may, by notification in the Official Gazette, specifies.

SECTION 285BA (FORM 61A)

SFT under Section 285BA read with Rule 114E of Income Tax Act 1961

As per section 28​5BA of the Income-tax Act, 1961 (as substituted by Finance Act, 2014 w.e.f. 01-04-2015), specified entities (Filers) are required to furnish a statement of financial transaction or reportable account (hereinafter referred to as ‘statement’) in respect of specified financial transactions or any reportable account registered/recorded/maintained by them during the financial year to the income-tax authority or such other prescribed authority.

Section 285BA of Income Tax Act 1961 cast a responsibility on the persons which are covered under rule 114E to furnish such records within the time specified.

The Rule 114E prescribed under the reporting transactions and persons that need to file such records to Director/ Joint director of Income Tax (Intelligence and Criminal Investigation)

S.no.	Nature of transactions	Reporting Entity
1	Receipt of cash payment by any person for sale of goods or supply of services of any nature exceeding Rs2,00,000	Any person who is liable for audit under section 44AB of the Act.

*Aggregation rule is not applicable for above transaction type i.e. Rs. 2,00,000 to be consider only for single transaction entered by Assesse in which he receive amount in Cash only.

Section 206C- Tax Collected at Source:

TCS is the Tax Collected at Source by the seller (collector) from the buyer (collectee)”. Every person, being a seller, shall collect tax at source (TCS) from the buyer of goods specified in section 206 C (1).

Finance Act, 2016 imposed TCS on sale of goods or services on receiving consideration in cash with effect from 2016, June 1. Finance Act 2016 has made the following amendments in section 206C of the Act: –

In order to reduce the quantum of cash transaction in sale of any goods and services and for curbing the flow of unaccounted money in the trading system and to bring high value transactions within the tax net, it is proposed to amend the Section 206C of Income Tax Act,1961 to provide that the seller shall collect the tax at the rate of one per cent(i.e. 1% of sale value) from the purchaser on –

– Sale of motor vehicle of the value exceeding ten lakh rupees (Where amount is received by cash, cheque or any other mode); or

– Sale in cash of any goods (other than bullion and jewellery), or providing of any services (other than payments on which tax is deducted at source under Chapter XVII-B) exceeding two lakh rupees. (Amount of consideration is received in cash or partly in cash only).

(In above even if part payment is been made in cash than TCS will be collected on Full amount)

Note: The limit of Rs.2 lakh would apply for each transaction or bill of purchase or expense separately, and therefore, though all the transactions put together for the year may exceed the limit, if each transaction of purchase or expense is below Rs.2 lakh, the provisions of TCS would not apply.

TAX AUDIT REPORT (3CD):

Clause 31 of Reporting seeking particulars of receipts or payments made in cash or cheque or bank draft (not being account payee cheque or account payee bank draft) exceeding the limit specified4 in section 269ST of the Act. Auditors require to report details of all such receipt or payment to Taxation Authority.

Clause 42 of Reporting require Form No. 61A (SFT by specified reporting persons) and Form No. 61B (Statement of Reportable Account by prescribed reporting financial institution, as per section 285BA of the Act). Auditors are require to report all those transaction, which are not reported under Form no. 61A/61B.

*****Sec 269ST will applicable when amount receive otherwise than by account payee cheque or an account bank draft or use of electronic clearing system through a bank account. However, Sec 285BA and Sec 206C (TCS provision) will be applicable on cash receipt basis only.

There is myth among various Stakeholders that the limit of Rs 2,00,000, calculated on aggregate basis. Actually it is not, 2 Lac limit as per above all Provision is to be computed majorly on single transaction basis.  

Thanks taxguru wesitwe

கருவூலங்கள்அரசு ஊழியர் மற்றும் ஆசிரியர்களின் வருமான வரி படிவங்களை ஆய்வு செய்யவேண்டிய அவசியம் எழவில்லை பழைய பதிப்பு

தமிழகத்திலுள்ள கருவூலங்கள்அரசு ஊழியர் மற்றும் ஆசிரியர்களின் வருமான வரி படிவங்களை ஆய்வு செய்யவேண்டிய அவசியம் எழவில்லை

சம்பளம் பெற்று வழங்கும் அலுவலர்கொடுக்கக்கூடிய உறுதிமொழியின்படி பிப்ரவரி மாத சம்பளப் பட்டியல் அனுமதிக்கலாம் என்ற பழைய குறிப்பான ஒன்று வெளிவந்துள்ளது

CPS தொகை கழிப்பதில் குழப்பம் தீருமா RTI தகவல் படி

தற்போது cps பிடித்தம் செய்யப்பட வேண்டிய தொகை சார்பாக பல தகவல்கள் வெளிவந்த வண்ணம் உள்ளது

ஒரு தகவல் உரிமைச் சட்டத்தில் மாவட்ட கருவுல தணிக்கை அதிகாரி சம்பள பட்டுவாடா மற்றும் தணிக்கை அதிகாரி RTI  CPS தொகையானது Cc'd 1(b) வைத்துக் கொள்ள இயலாது என்ற தகவல் தெரிவிக்கிறார்

அதேசமயம் income tax துறை அதிகாரிகளால் தமிழக ஆசிரியர் சங்கம் மூலம் பெறப்பட்ட ஒரு தகவல் அறியும் உரிமைச் சட்டத்தில்  பங்களிப்பு தொகையை பிரித்து பயன்படுத்தலாம் என்றும் cps தொகையை  பயன்படுத்தலாம் என்பதும்

 ஒரு தகவலாக வந்த வண்ணம் உள்ளது தற்போது இரண்டிற்கும் உள்ள குழப்ப நிலையை தெளிவு படுத்திக் கொள்ள அறிய ஆவலாக உள்ளது.
income tax இருந்து பெறப்படுகின்ற தகவல்களே முழுமையான தகவல் என கருதப் படுகிறது மற்ற தகவல்கள் இன்கம்டாக்ஸ்  இணையானது என்ற ஏற்புடையது அல்ல என்ற கருத்து நிலவி வருகிறது மேலும் குழப்பத்தையும் ஏற்படுத்தி வருகிறது.

*ஆசிரியர் கூட்டுறவு சங்கத்தில் பெறப்படும் கடன் மீதான தொகைக்கு காப்பீடு செய்யும் தொகையை வருமான வரி 80C-ன் கீழ் கழித்தம் செய்து கொள்ளலாம் என்பதற்கான பதிவாளர்-சென்னை அவர்களின் சுற்றறிக்கை...* 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻

*ஆசிரியர் கூட்டுறவு சங்கத்தில் பெறப்படும் கடன் மீதான தொகைக்கு காப்பீடு செய்யும் தொகையை வருமான வரி 80C-ன் கீழ் கழித்தம் செய்து கொள்ளலாம் என்பதற்கான பதிவாளர்-சென்னை அவர்களின் சுற்றறிக்கை...*

👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻

List of benefits available for salary person

this is to inform salary person the following benefits available kindly click and download the PDF file
Click to download

IFRMS எளிமையான முறையில் மாதந்தோரும் வரி கட்டுவது கட்டாயமாக்கப்படுகிறது

வருவாய் ஆண்டு 2019-2020 ஆம் ஆண்டிற்கான இன்கம்டாக்ஸ் Income taxtax தொகை மார்ச் மாதத்தில் இருந்து பிடித்தம் செய்ய வேண்டும் என்ற கட்டாய நிலை ஏனெனில் IFRMS  இதற்கான வழிவகை வழங்கப்பட்டுள்ளது மேலும் தங்களுக்கான

வருகின்ற மார்ச் மாதத்திலேயே தங்களுடைய சேமிப்பு மற்றும் வீட்டு வாடகை மற்றும் வீட்டுகடன் மற்றும் இதர செலவினங்களை தாங்கள் முன்பாகவே கணித்து தருதல் அவசியமாக படுகிறது அப்படி கணித்து தரக்கூடிய தொகை வருட கடைசியில் மாற்றம் ஏற்பட்டால் மாற்றம் செய்யும் வசதி வழங்கியும் உள்ளது.

எனவே அரசு மூலமாக மாத சம்பளம் பெறுபவர்கள்மாதம் மாதம் தங்கள் சம்பளத்தில் இருந்து வருமான வரி கட்டாய பிடித்தம் செய்ய வேண்டும் என்பது கட்டாயம் ஆகிய நிலையை முக்கிய குறிப்பாக இன்று 15.2.2019 நடந்த கூட்டத்தில் (chennai PAO East AND WIPRO ) meeting தெரிவித்தார்

பான் கார்டு தொலைந்துவிட்டதா? புதிய பான் கார்டு பெறுவது எப்படி?

தற்போது டூப்ளிகேட் பான் கார்டு அல்லது பழைய பான் கார்டில் திருத்தங்கள் செய்ய வேண்டும் என்றாலும் ஆதார் எண் கட்டாயம் என்பது குறிப்பிடத்தக்கது.
   
பான் கார்டில் உள்ள நிரந்தரக் கணக்கு எண் வங்கி கணக்கு, வருமான வரி தாக்கல், பிஎஃப் விதிடிராவ் போன்ற காரணங்களுக்குக் கட்டாயமாக உள்ளது.

அது மட்டும் இல்லாமல் 10 இலக்கம் கொண்ட இந்தப் பிளாஸ்டிக் பான் கார்டை ஒரு அடையாள ஆவணமாகவும் பயன்படுத்த முடியும்.

இப்படிப் பல்வேறு வகையில் உதவும் பான் கார்டை தொலைத்துவிட்டால் என்ன செய்வது என்று பலருக்கும் தெரியாது. எனவே பான் கார்டு தொலைந்துவிட்டால் புதிய பான் கார்டு பெறுவது எப்படி என்று இங்குப் பார்ப்போம்.

உங்களுடைய பான் கார்டு என் மறந்துவிட்டால் வருமான வரித் துறை இணையதளத்தில் உள்ள ‘Know Your PAN’ என்ற சேவை மூலமாகப் பான் விவரங்களைப் பெற முடியும்.

வருமான வரி இணையதளத்தில் https://www1.incometaxindiaefiling.gov.in/e-FilingGS/Services/VerifyYourPanDeatils.html என்ற இணைப்பிற்குச் செல்ல வேண்டும்.
பின்னர் ‘verify your PAN’ என்ற படிவத்தைப் பூர்த்திச் செய்ய வேண்டும். இங்கு தந்தையின் பெயர் மற்றும் பிறந்த தேதியை உள்ளிடுவதன் மூலம் தங்களது பான் எண்ணை எளிதாகப் பெறலாம்.

பான் எண் தெரியவந்த உடன் டூப்ளிகேட் பான் கார்டுக்கான கோரிக்கையை சமர்ப்பித்து புதிய கார்டை பெறலாம்.

தற்போது டூப்ளிகேட் பான் கார்டு அல்லது பழைய பான் கார்டில் திருத்தங்கள் செய்ய வேண்டும் என்றாலும் ஆதார் எண் கட்டாயம் என்பது குறிப்பிடத்தக்கது

ᴄʟᴀɪᴍ ᴏғ ɪɴᴛᴇʀᴇsᴛ ᴏɴ ʜᴏᴜsɪɴɢ ʟᴏᴀɴ & ʜʀᴀ

Simultaneous Claim of Interest on Housing loan & HRA; Interest deduction against Capital Gain

Assessee claim deduction of Interest on Housing Loan to acquire house property u/s 24(b)and simultaneously claim HRA exemption on rent paid (if he resides in property other than acquired). Further upon sale of said property, interest already claimed as deduction u/s 24(b) can be added to cost of property for the purpose of computing capital gain.   

An assessee can claim deduction of Interest on Housing loan taken to acquire a house property u/s 24(b) of the Income Tax Act. Section 10(13A) allows an assessee to claim HRA exemption in respect of rent paid for residential accommodation occupied by him. Further, where expenditure was incurred by way of interest on loan taken to acquire a house property, same shall be allowed to be added to cost for the purpose of computing capital gains upon sale of the said property.

The question under consideration is whether an assessee can claim all the aforementioned benefits together. Or to be more precise, does availment of one the benefit, precludes assessee from claiming other benefits.

HRA Exemption

Explanation to section 10(13A) provides that HRA exemptions shall be available if both the conditions are satisfied :

(a) the residential accommodation occupied by the assessee is not owned by him ; and

(b) the assessee has actually incurred expenditure on payment of rent (by whatever name called) in respect of the residential accommodation occupied by him

Deduction for interest as per Section 24(b):

Where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest payable on such capital:

Provided that in respect of property referred to in sub-section (2) of section 23, the amount of deduction shall not exceed thirty thousand rupees :

Provided further that where the property referred to in the first proviso is acquired or constructed with capital borrowed on or after the 1st day of April, 1999 and such acquisition or construction is completed within [five] years from the end of the financial year in which capital was borrowed, the amount of deduction under this clause shall not exceed two lakh rupees.

Explanation.—Where the property has been acquired or constructed with borrowed capital, the interest, if any, payable on such capital borrowed for the period prior to the previous year in which the property has been acquired or constructed, as reduced by any part thereof allowed as deduction under any other provision of this Act, shall be deducted under this clause in equal instalments for the said previous year and for each of the four immediately succeeding previous years:

Provided also that no deduction shall be made under the second proviso unless the assessee furnishes a certificate, from the person to whom any interest is payable on the capital borrowed, specifying the amount of interest payable by the assessee for the purpose of such acquisition or construction of the property, or, conversion of the whole or any part of the capital borrowed which remains to be repaid as a new loan.

Explanation.—For the purposes of this proviso, the expression “new loan” means the whole or any part of a loan taken by the assessee subsequent to the capital borrowed, for the purpose of repayment of such capital.

Section 23(2) :

(2) Where the property consists of a house or part of a house which—

(a) is in the occupation of the owner for the purposes of his own residence; or

(b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him, the annual value of such house or part of the house shall be taken to be nil.

Further, ‘at any other place’ mentioned in section 23(2)(b) includes any other place in the same city. Reference is drawn to the decision of Hon’ble High Court of Delhi in CIT v. Mr. Justice Avadh Behari Rohtagi [1986] 157 ITR 441 wherein it was held that where a person owns a house property in a city and resides at another house in the same city by virtue of his employment, exemption u/s 23(2) of the Income Tax Act, 1961 shall be available in respect of the house owned.

Upon perusal of the aforementioned provisions, it can be concluded that deduction u/s 24(b) and exemption u/s 10(13A) are altogether different. Section 24(b) operates independently of section 10(13A) and none of the two sections exclude the operation of the other. Nothing in the two sections precludes an assessee from claiming benefits under both the sections simultaneously, provided aforementioned conditions are fulfilled. Hence, it can be concluded that an assessee can claim deduction u/s 24(b) in respect of housing loan taken to acquire a house property. At the same time, exemption of HRA u/s 10(13A) can be claimed in respect of rent paid for residential accommodation occupied by him if he resides at a place other than owned by him.

Now the question that remains is “Whether assessee can include interest paid on loan taken to acquire a house property in the cost of the house property despite the same being already claimed as deduction u/s 24(b) in previous years?”

To address this issue, reference is hereby made to the decision of Chennai Bench of the Income Tax Appellate Tribunal in the case of ACIT v. C. Ramabrahmam (2012) 27 taxmann.com 104 wherein the Tribunal observed the following :

1. After perusing the above said provisions, we are of the opinion that deduction under section 24(b) and computation of capital gains under section 48 of the “Act” are altogether covered by different heads of income i.e., income from ‘house property’ and ‘capital gains’.

2. A perusal of both the provisions makes it unambiguous that none of them excludes operative of the other. In other words, a deduction under section 24(b) is claimed when concerned assessee declares income from ‘house property’, whereas, the cost of the same asset is taken into consideration when it is sold and capital gains are computed under section 48.

3. We do not have even a slightest doubt that the interest in question is indeed an expenditure in acquiring the asset. Since both provisions are altogether different, the assessee in the instant case is certainly entitled to include the interest amount at the time of computing capital gains under section 48 of the “Act”.

Conclusion

Upon consideration of the aforementioned discussion, it can be concluded that an assessee claim deduction of Interest on Housing Loan to acquire house property u/s 24(b) and simultaneously HRA exemption on rent paid (if he resides in property other than acquired). Further upon sale of said property, interest already claimed as deduction u/s 24(b) can be added to cost of property for the purpose of computing capital gain.

(For any feedback, comment or suggestion author may be reached at parasdawar@gmail.com)

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Donations Eligible Under Section 80G and 80GGA

Donations Eligible Under Section 80G and 80GGA

Many of us at some point in our lives have contemplated giving to charity and doing our bit for society. It is a commendable thing to donate to a cause that you sincerely believe in, and make a difference. Given the nobility of this gesture, the government extends its full support towards charitable services. Section 80G of the Indian Income Tax Act allows you tax deduction on donations made to any charitable organization. In this article, we will discuss the following topics.

Section 80G

Donations Eligible for 100% Deduction Without Qualifying Limit

Donations Eligible for 50% Deduction Without Qualifying Limit

Donations Eligible for 100% Deduction Subject to 10% of Adjusted Gross Total Income
Donations Eligible for 50% Deduction Subject to 10% of Adjusted Gross Total Income
Section 80GGA
Donations Eligible Under Section 80GGA
Adjusted Total Income


1. Section 80G
Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act. All donations, however, are not eligible for deductions under section 80G. Only donations made to prescribed funds qualify as a deduction.

The deduction is allowed to all types of taxpayers: This deduction can be claimed by any taxpayer -individuals, company, firm or any other person.

Mode of Payment: This deduction can only be claimed when the contribution has been made via a cheque or a draft or in cash. But the deduction is not allowed for donations made in cash exceeding Rs 10,000. In-kind contributions such as food material, clothes, medicines etc. do not qualify for deduction under section 80G.
From Financial Year 2017-18 onwards: Any donations made in cash exceeding Rs 2,000 will not be allowed as deduction. The donations above Rs 2,000 should be made in any mode other than cash to qualify as a deduction under section 80G.


Amount of Donation: The various donations specified in section 80G are eligible for a  deduction of up to either 100% or 50% with or without restriction, as provided in section 80G.

How to claim the deduction: To be able to claim this deduction the following details have to be submitted in your Income Tax Return


Name of the Donee
PAN of the Donee
Address of the Donee
Amount of Contribution

2. Donations Eligible for 100% Deduction Without Qualifying Limit
National Defence Fund set up by the Central Government
Prime Minister’s National Relief Fund
National Foundation for Communal Harmony
An approved university/educational institution of National eminence
Zila Saksharta Samiti constituted in any district under the chairmanship of the Collector of that district
Fund set up by a State Government for the medical relief to the poor
National Illness Assistance Fund
National Blood Transfusion Council or to any State Blood Transfusion Council
National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation, and Multiple Disabilities
National Sports Fund
National Cultural Fund
Fund for Technology Development and Application
National Children’s Fund
Chief Minister’s Relief Fund or Lieutenant Governor’s Relief Fund with respect to any State or Union Territory
The Army Central Welfare Fund or the Indian Naval Benevolent Fund or the Air Force Central Welfare Fund, Andhra Pradesh Chief Minister’s Cyclone Relief Fund, 1996
The Maharashtra Chief Minister’s Relief Fund during October 1, 1993 and October 6, 1993
Chief Minister’s Earthquake Relief Fund, Maharashtra
Any fund set up by the State Government of Gujarat exclusively for providing relief to the victims of the earthquake in Gujarat
Any trust, institution or fund to which Section 80G(5C) applies for providing relief to the victims of the earthquake in Gujarat (contribution made during January 26, 2001, and September 30, 2001) or
Prime Minister’s Armenia Earthquake Relief Fund
Africa (Public Contributions – India) Fund
Swachh Bharat Kosh (applicable from FY 2014-15)
Clean Ganga Fund (applicable from FY 2014-15)
National Fund for Control of Drug Abuse (applicable from FY 2015-16)
3. Donations Eligible for 50% Deduction Without Qualifying Limit
Jawaharlal Nehru Memorial Fund
Prime Minister’s Drought Relief Fund
Indira Gandhi Memorial Trust
Rajiv Gandhi Foundation

4. Donations Eligible for 100% Deduction Subject to 10% of Adjusted Gross Total Income
Donations to the government or any approved local authority, institution or association to be utilized for the purpose of promoting family planning
Donation by a Company to the Indian Olympic Association or to any other notified association or institution established in India for the development of infrastructure for sports and games in India, or the sponsorship of sports and games in India.


5. Donations Eligible for 50% Deduction Subject to 10% of Adjusted Gross Total Income
Any other fund or any institution which satisfies the conditions mentioned in Section 80G(5)
Government or any local authority, to be utilized for any charitable purpose other than the purpose of promoting family planning
Any authority constituted in India for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns, villages or both
Any corporation referred to in Section 10(26BB) for promoting the interest of the minority community
For repairs or renovation of any notified temple, mosque, gurudwara, church or other places.


6. Section 80GGA
Section 80GGA allows deductions for donations made towards scientific research or rural development. This deduction is allowed to all assessees except those who have an income (or loss) from a business and/or a profession. Mode of payment: Donations can be made in the form of a cheque or by a draft or in cash; however cash donations in excess of Rs 10,000 are not allowed as deductions. 100% of the amount that is donated or contributed is considered eligible for deductions.


7. Donations Eligible Under Section 80GGA
Any sum paid to a research association which undertakes scientific research, or a sum paid to a college, university or any other institution to be used for scientific research that is all approved by the prescribed authority under section 35(1)(ii)
Sum paid to a research association which undertakes research in social science or statistical research, or sum paid to a college, university or any other institution to be used for the same purpose,  and these must all be approved by the prescribed authority under section 35(1)(iii)
Sum paid to an approved association or institution which undertakes any program of rural development and is approved under section 35CCA
Sum paid to an approved association or institution which undertakes training of person(s) for implementing programs of rural development
Sum paid to a public sector company, local authority or an approved association or institution which carries out projects or schemes approved under section 35AC.
Sum paid to notified Rural Development Fund
Sum paid to notified Fund for Afforestation
Sum paid to notified National Poverty Eradication Fund
If a deduction has been allowed under section 80GGA, such expenses shall not be deductible under any other provision of the income tax act.


8. Adjusted Total Income
Adjusted total income: Adjusted gross total income is the gross total income (sum of income under all heads) less the following:
Amount deductible under Sections 80CCC to 80U (but not Section 80G)
Exempt income
Long-term capital gains
Income referred to in Sections 115A, 115AB, 115AC, 115AD and 115D, relating to non-residents and foreign companies



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