Download Form 27D TCS Certificate online from TRACES. Complete guide on format, issuance timeline, penalties & filing process. Updated for FY 2024-25.

A TDS Certificate is a proof issued by the deductor that shows the amount of Tax Deducted at Source (TDS) and deposited with the Income Tax Department. It helps taxpayers claim credit while filing ITR. Common certificates include Form 16, 16A, 16B, and 16C, which can be easily downloaded and verified online.

Section 149 of the Income Tax Act, 1961 lays down the prescribed time limits for issuing a reassessment notice (u/s 148) when income is believed to have escaped assessment. It ensures that reopening of assessments is done within a lawful period based on the amount of income escaped and conditions fulfilled.

Section 251 of the Income Tax Act outlines the authority granted to the Commissioner of Income Tax (Appeals) [CIT(A)] while disposing of appeals. This includes the power to confirm, reduce, enhance, or annul an assessment order. The section empowers CIT(A) to thoroughly review assessments and issue appropriate decisions to ensure tax justice.

Section 115JC of the Income Tax Act introduces the concept of Alternate Minimum Tax (AMT) for non-corporate taxpayers, including LLPs, individuals, HUFs, AOPs, and others. This provision ensures that such entities, claiming significant deductions under Chapter VI-A or Section 10AA, pay a minimum amount of tax. Learn the applicability, rate, exemption limits, and how AMT under Section 115JC is computed.

Section 115JB of the Income Tax Act mandates Minimum Alternate Tax (MAT) for companies whose normal tax liability is lower than 15% of book profits. Learn about MAT computation, applicability, exemptions, and treatment of foreign companies under MAT provisions.

Section 115AD of the Income-tax Act governs the taxation provisions applicable to Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) on their income from securities and capital gains in India. It provides specific tax rates for interest, dividends, and short-term or long-term capital gains arising from investments in Indian securities.

Section 115AC of the Income Tax Act governs the taxation of interest and dividends earned by non-residents from Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs), and other specified securities issued by Indian companies. It offers a concessional 10% tax rate and simplified compliance.

Section 112A of the Income Tax Act governs the taxation of long-term capital gains (LTCG) arising from the sale of listed equity shares, units of equity-oriented mutual funds, or units of business trusts. Gains above ₹1 lakh are taxed at 10% without indexation, provided STT conditions are met. Understanding 112A is crucial for investors and traders planning their equity exits or portfolio rebalance to optimize tax liability. Learn how exemptions, grandfathering rules, and filing provisions apply under this section.

Section 111A of the Income Tax Act deals with short-term capital gains (STCG) arising from the sale of equity shares or equity-oriented mutual funds through a recognized stock exchange. These gains are taxed at a concessional flat rate of 15% provided Securities Transaction Tax (STT) is paid. Additional cess and surcharge may apply. This section is crucial for investors and traders engaged in frequent equity transactions.