The CBDT has issued Circular No. 20/ 2015 dated 02.12.2015 in which it has explained the entire law relating to the obligation of employers to deduct income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2015-16 under section 192 of the Act and Income-tax Rules, 1962.
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Bill Dt. 15.06.2015 , Basic Bill Value Rs. 210000/- + Service Tax @ 12.36% Rs. 25956/- , Total Bill value Rs. 235956/- and work description is Equipment Hiring Bill PAN No. AAACE2358J
1. My query is TDS deduction on which value from this bill .
2. When that time I have already accounted the bill and TDS already deducted on Gross Bill Value ( Rs. 235956/-) from this bill is it wrong or right deduction, if it is wrong please explain or right please explain .
The explanatory notes to the finance bill was issued soon after the presidential asset is obtained .In an age when transmission of information is at its fastest the CBDT appears to be in the stone age. Working in the old Nawabi style Pathetic is one word that describes the functioning of the Board.
In this connection I need to mention of an incident that was narrated to me by a senior official. While on the tax study tour of USA one of the senior officials asked the US authorities who was accompanying them …..
Don’t you have any five year plans in USA?
The answer he got from them was truly amazing. The response was . We are making plans as to how the country should be a hundred years from now !!!!
Wake up from your deep slumber CBDT.
An administration that cares always thinks ahead. CBDT does not care a hoot.
They all are on a short vacation in Delhi.If lucky they can always look out for a plum posting where they need not make any contribution like being a part of the tax reforms committee.or any other posting.like member settlement commission etc
Peters principle is full display
In earlier years the CBDT / Directorate of Publications used to issue similar circulars some where in August / September itself. But this CBDT has taken its own sweet time of 8 months to issue it. This is a laxity which is not pardonable.
I agree with you Sir. The earlier this important circular for salaried employees is issued by CBDT the more helpful it will be.