SIGN IN SUBSCRIBE

News Update

I-T- Denial of deduction u/s 80IC can create perception of genuine hardship, where claimant paid tax in excess of what was due; order denying deduction merits re-consideration: HCIsrael launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 pollsGermany disfavours Brazil’s proposal to tax super-richI-T- If material found during search are not incriminating in nature AO can not made any addition u/s 153A in respect of unabated assessment: ITATGovt appoints Dinesh Tripathi as New Navy ChiefAFMS, IIT Kanpur to develop tech to address health problems of soldiersFBI sirens against Chinese hackers eyeing US infrastructureI-T - Interest earned on short term deposit out of borrowed funds during period prior to commencement of business, is totally foreign to business objects of assessee, and not eligible for set off: ITATKenya’s top military commanders perish in copter crashCBIC notifies Customs exchange rates w.e.f. April 19, 2024Meta shares ‘Most Intelligent’ AI assistant built on Llama modelST - Service Tax paid in respect of export of services and cannot be subject to levy of Service Tax under Notfn 18/2009-ST, denial of exemption on procedural lapses cannot be sustained: CESTATDengue cases soaring in US - Close to ‘Emergency situation’: UN AgencyNexus between Election Manifesto and Budget 2024 in July!Half of China’s major cities sinking, reveals StudyCX - The warranty service is eligible for credit though the same is provided after clearance of final products: CESTAT
 
Section 197 Certificate - CBDT proposes to amend Rules to make it electronic

 

By TIOL News Service

NEW DELHI, AUG 17, 2018: IT is digital time for the tax department. Both the Revenue Boards have been trying hard to substitute hard copy procedures by e-procedures. In the latest move the CBDT has come out with a Draft Notification to make Section 197 Certificate electronically issued for no deduction or deduction of TDS at lower rate.

Since aligning the electronic format with other provisions requires rationalisation of the existing provisions the CBDT proposes to prescribe a new Form No 13 and amend the Rules accordingly. As per the Draft, several Rules such as 28, 28AA, 28AB, 37G and 37H of the Income-tax Rules, 1962 are proposed to be amended.

The two features which are going to be incorporated are - digital signature and electronic verification code. Netizens are now aware that while linking Aadhar with PAN, the safety valve is the electronic verification code which seems to be working fine for the Income Tax Department.

(Click here for full text of the Draft Notification)


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360





Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST