TDS Credit and more

Written by
People discussing a business plan
Akash VM

#1 – TDS Credit to be allowed even if Tax Credit in Form 26AS not available – High Court A Verdict to rejoice.

Yet another judgment delivered to the benefit of Common Man. Many a times, Demand Notices (or) Refund Adjustment intimations are received by Individuals due to Tax Credit not available in Form 26AS, in spite of TDS being actually deducted by the Deductors & Form 16 (or) Form 16A issued.

See the Actual Judgment Click Here

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# 2 – 80C Deduction – Tuition Fees to include all types of fees paid to school and playschool !
Development Fees & Donations continue to be un-exempt.

The Circular dated 10.10.2013 clarified certain aspects and the interpretation is now simpler. For Example – “Full Time Education” also includes Play school activities, pre-nursery & nursery classes. Further not only Tuition Fees but Admission, Exam, Computer, Project, Practical Fees will now is allowed for exemption under Sec. 80C.

Click Hereto see the Full Circular.


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