In the TDS Return filed, the intimation for Late Payment can be received for the following reasons: Case #1: There was a delay in payment of TDS dues for which interest was not paid before filing TDS Return Case #2: The interest component was present in the Challan, but the ‘interest was not allocated’ Case…
Indeed, a great privilege for Team TDSMAN as our mother organization ‘PDS Infotech (P) Ltd. has been adjudged the ‘Tech Topper’ by The Economics Times, Kolkata jointly with Rotary International. Click here for the published article. We express our sincere gratitude to all our valued users and other stakeholders for their cooperation and encouragement. With…
The procedure for requesting Form 16 from TRACES website has been given below: Since FY:18-19 onwards, the Income Tax department is now providing both Part A and Part B of Form 16 (TDS certificate for employee) The steps for requesting Form 16 are: Login to TRACES after giving User ID, Password, TAN of the Deductor…
The sections under which interest for various delays/ defaults need to be paid are as follows: Section 234A for delay in filing the return of income Section 234B for default in payment of advance tax Section 234C for deferment of payment of individual installment or installments of advance tax Section 234D for excess refund granted…
As part of the initiative in improving liquidity owing to the COVID crisis, it has been announced that TDS / TCS rates for non-salary payments will be reduced by 25% across the board. This would be for all payments from 14th May 2020 to 31st March 2021. The revised TDS / TCS chart is as under: TDS…
1. What is a Conso file? It is the consolidated data of the statements processed (regular & correction) for the relevant Financial Year, Quarter and Form Type. 2. Why is a Conso file required? While filing correction for a particular Financial Year, Quarter and Form Type, Conso file provides details about all the previous corrections…
After the extension of due dates for Issuing TDS/TCS Certificates on 24.06.2020 by CBDT, new dates are mentioned below. Form 16 for TDS on salary during FY 2019-20 – 15-08-2020 Form 16A for TDS on income other than salary for Q4 of FY 2019-20 – 15-08-2020 TCS certificate for Q4 of FY 2019- 20 –…
There are 6 types of corrections namely C1, C2, C3, C4, C5, C9. The following table briefly talks about each correction type: Type Corrections in: C1 Deductor details: All details of deductor except the TAN No. can be modified. C2 Challan details: All details of the challan can be modified. C2 can include C1 type…
Now you can prepare TDS Returns for all quarters of the next FY: 20-21 It covers: ✔ All TDS Returns for FY: 2020-21 ✔ All TDS Returns for FY: 2019-20 ✔ Pending TDS Returns of earlier years, if any ✔ Online Filing ✔ Rectification of TDS Defaults TDSMAN is packaged with advanced corrective and validation…
Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government / Non-Government) of the deductor, PAN of the deductees and other particulars of deduction of…