Friday, April 19, 2013

< itatonline Latest from CBDT TG TDS Woes Related > Cap. Gains; Disallwance of Expense; HP income; et al



It is regrettable that the hassles/hardships likely to be faced BY PAYEES in securing credit in terms of the extant provisions, particularly  Sec. 199 , IN SPITE OF HAVING BEEN POINTED OUT REPEATEDLTY THROUGH THIS WEBSITE AS WELL  have been left untouched ?!

The CBDT has addressed a letter dated 29.04.2013 to the Chief Commissioners of Income-tax (CCITs) in which it has emphasized the need for focused attention for a pro-active approach towards recovery of arrear demand. It is pointed out that some of the demands uploaded are incorrect or non-existent leading to grievances and aberrations. The CCITs have been directed to observe “Demand Management Month” from 25.04.2013 to 24.05.2013 and appoint a Nodal Officer of the rank of JCIT to address the grievances of the tax payers. It is emphasized that the aim should be to crystallize the arrear demand at a realistic level after resolving the grievances in a transparent manner and that the progress must be visible and apparent instead of being ceremonial. The CCITs have been directed to provide information as per the proforma to demonstrate the progress in resolution of assessee’s grievances as well as discrepancies existing in the demand figures.

On Sec 194IA>

To comment on a few of the points* made but invalid !

* “Buyers have a six months window to avoid compliance hassles,” Homi Mistry, partner at Deloitte, Haskins & Sells, said."

"Sellers can claim credit in lieu of this on the basis of a one-page form to be notified soon after the passage of the Finance Bill, the official said." ...?

Jain said it will affect the seller’s liquidity as well because he will get a lower amount.




Another Story unfolded !

<> The observations of the court in the instant case, just as in a series of reported cases of the kind , especially in recent times, are, from the viewpoint of the taxpaying community, required to be read and understood in proper light. For such purpose, it is not but imperative to keep focused on the inescapable but glaringly obtaining supervening realities.
The law on income-tax is just one of the many; besides and same way as on any other subject , of every concern to the ‘subjects’ (the people). Lately, the judiciary has, by way of meeting the crying need of the hour, off and on, more often than ever before, been compelled to, without mincing words, pinpoint the ongoing worrisome irregularities, in the implementation and administration of the tax law, strictly both in its letter and spirit. Some of the recently reported cases have brought to surface the alarmingly growing actual factuality that the lower authorities have been acting in blatant disregard of the specific directions, advice, so on, of their own superiors; unwittingly or otherwise, without hardly realising that such a conduct is , besides being a dereliction of duty (ies) , is tantamount to ‘insubordination’ of a grave and serious nature. The recently reported Delhi HC Order on a closely related topic (TDS Woes /Blues) (Ref. HC issued guidelines to end TDS credit & refund adjustment harassment of Assessee by CPU ; also, the article @ Take up TDS problems with deductors, Delhi High Court tells taxmen ) is clarificatory enough.
The detailed Order, it may be noted, bears on its sleeves the unfortunate scenario; the harsh indisputable fact that both the AOs and the in-charges of CPC, not to speak of others to be blamed, have not taken seriously even the court’s ‘dictats’ (in the form of ‘mandamus’) thereby holding themselves out as directly responsible for the varying types of hardships and harassment meted out to the taxpayers; including the salaried class, who by any yardstick, could only be regarded to have invariably been honest ; in comparison, more so than any other category.
As rightly remarked by the court in the instant case, -“Time has come for the heads of the departments to keep a strict vigil on such shirkers and to fix their responsibility”. One is tempted to add that, the quoted words of caution are necessarily to be regarded as primarily addressed to the CBDT, it being the highest empowered executive authority, in control and hence ultimately responsible for a profoundly proper administration and implementation of the law, of which it is a creature, and, as such, answerable to every action or inaction of its subordinates, which is not strictly within the frame work of the law.
One has remained wondering for long, why certain provisions of the Act namely, section 293 and section 280, though pushed to the tail end/ an obscure corner of the enactment, have remained to be even looked at , much less the objective and implications thereof, obvious or hidden, to be explored and invoked as appropriate in a given case. To put it differently, it has been one’s longstanding conviction that , those provisions being very much part and parcel of the Act itself, if construed in the true spirit, do seem to hold the effective but ultimate solution to improving upon the largely prevailing deplorable state of affairs. This is an aspect which might be worth exploring by, not barring the Government / Revenue, by the so called advising tax experts and their aggrieved hapless clientele, alike. The individual viewpoints on this unique vital aspect as brought out in the published article, – (2008) 169 Taxmann (journal) 14-21 (para 2.1), may be of help for a grass root grip of the whole matter.
(Above being one’s own sporadic thoughts/reactions, still shared, are open to be edited by experts having field exposure/hand-on experience!)

<><> On quick look through the last made avilable text of the DTC Bill, one is left with a grave doubt whether the referred (i.e. Ss 293 and 280) and / or other related provisions are covered as adequately as desired /or for the better as would have been expected , to safegaurd/keep protected the taxpayers’ interests /rights against all odds in the CHANGING / CHANGED SCENARIO!

April 23rd, 2013
(133.1 KiB, 71 DLs)Download: vijay_agrawal_refund_harassment_strictures.pdf

Non-grant of refunds: Strictures passed against Dept for harassing honest taxpayers

& See also North Eastern 348 ITR 584, 592 (Gau) where the department was castigated for behaving like a “small-time trader” and indulging in “State extortion from a helpless taxpayer” for non-grant of refund.

Honest tax-payer should not be subjected to unnecessary harassment – HC


Unfolding The Income From Capital Gain – Assessment , Case Laws

TDS Woes Related>

Posted: 22 Apr 2013 07:09 PM PDT
CBDT has made it mandatory for TDS deductors to issue PART A of from No. 16 for TDS deduction made on or After 01.04.2012 to by generating it through TRACES Portal and after duly authenticating and verifying it. Part B (Annexure)’ of Form No. 16 shall be prepared by the deductor manually and issued...
Posted: 22 Apr 2013 06:16 PM PDT
The deductor, issuing the Part A of Form No. 16 by downloading it from the TRACES Portal, shall, before issuing to the deductee authenticate the correctness of contents mentioned therein and verify the same either by using manual signature or by using digital signature in accordance with sub-rule...


Reopening for negligence / recklessness on the Part of A.O. not permissible

Reassessment inquiry on return filed can be done only after issuing notice u/s. 143(2)

Salary income which is subject to TDS, cannot be categorised as undisclosed income


Expenses or Payments not Deductible Under Certain Circumstances – Section 40A

Disallowance on account of Non-deduction of TDS – Section 40(a)(ia)

Income From House Property – Issues, Case Laws, Assessment

Delayed or Non payment of TDS- Department to initiate action against TDS defaulters


Taxguru Art. 

3. BL Art. by a CA (Del)

SpeakingTree (blog) ‎- 22 hours ago
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