Unused tax paid in a challan can be used in the remaining quarters of the current financial year and can also be carried forward to the next year. For Example, unused tax payment in Q1 of FY16-17 can be used for payment of TDS for Q2, Q3 and Q4 of FY 16-17 and if required…
Fees for Late Filing of TDS Returns are as follows: Section 234E-Levy of Fees Failure to submit TDS return on time will result in fees on the deductor. If you delay or forget to file your TDS return, fees of Rs. 200 per day will be levied on the deductor, as long as TDS return is…
Healthy practices for error-free TDS returns has been given below: Deduction/ Collection of Tax at Correct Rates. Timely Deposit of Tax Deducted at Source. Accurate Reporting of data related to tax deductions/ collections made. Submission of TDS Statements within the due dates. Verification and Issuance of TDS Certificates within time. CPC (TDS) is now sending…
Filing accurate TDS Returns on-time is the prime objective – whether done in-house or outsourced. Some of the key advantages do it in-house is summarized as under: All relevant data i.e. tax deductions and its payments are readily available It is simple to record this data and prepare the TDS Return for filing Convenient to…
The advantages of Using TDSMAN Online are as follows Cloud-based platform High Data Security Handling of large Data Always updated Software Pay as per you use Accessible from Multiple Devices Prepare returns from Rs. 299 onwards Latest IT Departments FVU (File Validation Utility) Go to www.tdsmanonline.com now, create an account, log in and prepare your TDS /TCS…
TDS RATE CHART FY: 2018-19 (AY: 2019-20) Section Nature of Payment Threshold Indv/ HUF Others Rs. TDS Rate (%) 192 Salaries – Avg – 192A Premature withdrawal from EPF 50000 10 – 193 Interest on Securities 10000 10 10 194 Dividends 2500 10 10 194A Interest (Banks) 10000 10 10 194A…
The Income Tax Department has released today (2nd October, 2018), the following new File Validation Utilities: FVU version 5.9 – For statement pertaining to FY 2010-11 onwards FVU version 2.155 – For statement up to FY 2009-10 Click here to view the Key Features – File Validation Utility (FVU) version 5.9 & 2.155 TDSMAN has accordingly…
Steps: Request for TDS (Consolidated) file from Traces Download requested TDS (Consolidated) file from Traces Upload TDS(Consolidated) file for correction into the software Make corrections Generate the correction return Submit The correction return to NSDL Types of Corrections in TDS Returns Use TDSMAN one of the leading software for preparing correction returns
In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every month or every part of the month during which the amount is not deposited with the government. Interest @ 1.5% is liable to be paid…
Healthy practices for error-free TDS returns has been given below: Deduction/ Collection of Tax at Correct Rates. Timely Deposit of Tax Deducted at Source. Accurate Reporting of data related to tax deductions/ collections made. Submission of TDS Statements within the due dates. Verification and Issuance of TDS Certificates within time. CPC (TDS) is now sending…