What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the…
View More FAQ on Online CorrectionMonth: November 2020
Types of Corrections in TDS Returns
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:…
View More Types of Corrections in TDS ReturnsSpecial Discount on TDSMAN (FY: 2020-21)
Now you can prepare TDS/TCS Returns for all quarters of FY: 20-21 It covers: ✔ All TDS/TCS Returns for FY: 2020-21 ✔ All TDS/TCS Returns…
View More Special Discount on TDSMAN (FY: 2020-21)Tips to avoid Defaults in TDS Returns
Make sure taxes are deducted on time and at correct deduction rates /amount. The applicable section under which the deduction falls should be correctly applied.…
View More Tips to avoid Defaults in TDS ReturnsChallan ITNS 281- Important Points
Important points to note related to ITNS-281 are as follows: 1. Company Deductee/Non-Company Deductee – Although this appears in the Challan format, however it has…
View More Challan ITNS 281- Important PointsSteps for Preparing Correction Returns
Steps for Preparing Correction Returns Request for TDS (Consolidated) file from TRACES Download requested TDS (Consolidated) file from TRACES Upload TDS (Consolidated) file for correction into the software. This file…
View More Steps for Preparing Correction ReturnsWhat is the Interest for non-payment of tax as per demand notice?
Let us first understand the provisions of section 220(1) relating to payment of tax as per demand notice. Then we will understand the provision for…
View More What is the Interest for non-payment of tax as per demand notice?Section 194M – Rationale & Brief Analysis
A new section 194M has been proposed in the Budget of 2019 wherein an individual or an HUF (those not covered in TDS), is now…
View More Section 194M – Rationale & Brief AnalysisFiling of TDS / TCS Return Online using Aadhaar
One can file TDS / TCS Returns (both Regular & Correction Statements) through the Income Tax e-Filing portal through Aadhaar authentication. Pre-requisites • TAN has…
View More Filing of TDS / TCS Return Online using AadhaarProcedure of preparing e-Returns for TDS / TCS
E-Returns for TDS / TCS was first introduced in 2002-03 and it has come a long way ever since. Currently, less than 1% are still…
View More Procedure of preparing e-Returns for TDS / TCS