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2013
 

35 Excel Tips that could save you from working all night

Please find the Powerpoint Presentation in the attachment for Excel Tips.


attachmentExcel Tips

2013

Till recently TDS deductor were submitting TDS return for a Quarter even if they have not deducted and paid any TDS for a specific Quarter, called NIL TDS Return.

CBDT has now provided that -
TDS statement cannot be filed without quoting any valid challan and deductee row.
Which implies that, Nil TDS return is no more permissible.

2013

In Recent past it has been noticed that department has taken late payment of TDS very seriously and in addition to imposing Interest and Penalty for Late Payment, they also start initiating Criminal Prosecution against those responsible for Deduction and Payment of TDS.

2013
2013

The Income Tax Department has launched a drive to ensure greater tax compliance. In recent months, thousands of taxpayers have been served notices after discrepancies were noted in their tax returns or their TDS details.

This sudden rise in the number of tax notices is not because people have stopped paying tax or filing their returns. It’s just that the tax authorities now have an integrated database on taxpayers and can track almost all financial transactions of an individual.

The 10-digit alphanumeric PAN, which has been made mandatory for most money transactions, allows the tax department to peek into your financial life.

2013

Tax Planning is important for every taxpayer and the same needs to be done before the end of the year to which Income Pertains. In Addition to Tax Planning Assessee needs to Collect Relevant Supporting and calculate his Tax Due and Pay the same. Few things are listed below which Assessee needs to do before the end of the year, i.e., on or before 31st March, :-

    1. Submit to your employer the proof of investments/expenses that you have incurred to claim deduction under Section 80C. These includes receipt for insurance premium paid, deposits made in your public provident fund account, investment made in equity-linked savings schemes, National Savings Certificates purchased, children’s tuition fees paid, PPF, Tax Saving Bank Fixed Deposit, ULIP etc. Your employer would require the details and the documentary proof to provide you the deduction under Section 80C.

Financial Management