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TDS/TCS returns will not be accepted if TAN is not quoted and challans for TDS/TCS payments will not be accepted by banks. Failure to apply for TAN or not quoting the same in the specified documents attracts a penalty of ₹10,000 No documents are required to be filed with the application for allotment of TAN.
Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
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Tax return laws generally prohibit disclosure of any information gathered on a state tax return. [10] Likewise, the federal government may not (with certain exceptions) disclose tax return information without the filer's permission, [11] and each federal agency is also limited in how it can share such information with other federal agencies. [10]
In Illinois, taxpayers have two refund options: Direct deposit: Those who file their returns electronically can have their refund deposited directly into their checking or savings account. This is ...
The IRS receives around 3 million amended tax returns annually, according to a new release by the agency on February 9, 2023.Taxpayers who amend taxes could be retroactively claiming a refund or ...
The Daily Show, US TV program; TopDrawerSoccer.com, a website; Trump derangement syndrome, term used by supporters of US President Donald Trump; Tokyo DisneySea, Japan; TDS Racing, a French auto racing team
The after-inflation, after-tax return is what is important. Author Ric Edelman writes: "You don't make any money in bank accounts (in real economic terms), simply because you're not supposed to." [14] On the other hand, he says, bank accounts and CDs are fine for holding cash for a short amount of time.