• 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]

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