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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.
Occasionally, there may be situations where the tax return need not be filed, but is filed anyway to receive a tax refund. [4] The tax return is not necessarily the final calculation; it may be accepted or not accepted as correct by the government authority. [5] The time and effort involved in filing a tax return varies from country to country ...
As the April 18 tax deadline nears and state returns are filed, many Pennsylvania taxpayers will likely be -- or are already -- wondering how long it'll take to get their refunds this year. The...
A permanent account number (PAN) is a ten-character alphanumeric identifier, issued in the form of a polycarbonate card, by the Indian Income Tax Department, to any person who applies for it or to whom the department allots the number without an application.
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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 ...