Global

Details

  • Service: Tax, Global Indirect Tax, Global Mobility Services, International Tax
  • Type: Regulatory update
  • Date: 6/11/2014

India - Credit for tax withheld (deducted) at source 

June 11:  The KPMG member firm in India has prepared reports on the following developments (read the June 2014 reports by clicking on the hyperlinks provided below).
  • TDS credit cannot be denied because of mismatch of TDS amount with the details shown in Form 26AS - The Allahabad High Court held that the mismatch of “tax deducted at source” (TDS also known as “tax withheld at source”), from the details shown on Form 26AS, is not attributable to the taxpayer, but that the error is solely that of the party doing the withholding / deducting. Accordingly, the taxpayer is entitled to a tax refund once the tax has been deducted / withheld and remitted to the government.

    The case is: Rakesh Kumar Gupta. Read a June 2014 report [PDF 397 KB]


  • Maharashtra Budget 2014-15 includes indirect tax proposals/changes - The Finance Minister of Maharashtra presented the state budget for 2014-15 on 5 June 2014 in the State assembly, and includes indirect tax proposals and changes.

    Read a June 2014 report [PDF 283 KB]



©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now