Section 271C of the Income Tax Act, 1961, outlines the penalties for failing to deduct or remit Tax Deducted at Source (TDS) as mandated by…
View More Section 271C: Penalty for failing to deduct TDSCategory: TDS Circulars
Section 271C: Penalty for failing to deduct TDS
Section 271C of the Income Tax Act, 1961, outlines the penalties for failing to deduct or remit Tax Deducted at Source (TDS) as mandated by…
View More Section 271C: Penalty for failing to deduct TDSCircular on Interest Waiver (TDS / TCS)
The Income Tax Department, through Circular No. 5/2025, dated 28th March ’25, has introduced a waiver mechanism for certain interest liabilities related to TDS /…
View More Circular on Interest Waiver (TDS / TCS)Applicability of Lower TDS / TCS Extended on Purchase of Goods
Effective from 1st October 2024, issue of certificates under Section 197 (lower deduction / collection) has been extended to include Sections 194Q and 206C. This…
View More Applicability of Lower TDS / TCS Extended on Purchase of GoodsApplicability of Lower TDS / TCS Extended on Purchase of Goods
Effective from 1st October 2024, issue of certificates under Section 197 (lower deduction / collection) has been extended to include Sections 194Q and 206C. This…
View More Applicability of Lower TDS / TCS Extended on Purchase of GoodsFurther Extension of Date for TDS Returns (FY: 2020-21, Q-4)
Extension of time limits for certain TDS compliances has taken place, to provide relief to taxpayers in view of the severe pandemic. Reference: Circular No.…
View More Further Extension of Date for TDS Returns (FY: 2020-21, Q-4)Consequences of TDS defaults
Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit) : Default/ Failure Section Nature of Demand Quantum of…
View More Consequences of TDS defaultsDo’s & Don’ts for TDS Returns
Given below are some do’s and don’ts for filing of TDS returns: Do’s Ensure that TDS return is filed with the same TAN against which…
View More Do’s & Don’ts for TDS ReturnsSalary TDS – Employee to inform Employer for concessional rate
Section 115BAC has been inserted in the Finance Act 2020 in the recent budget. This allows the option to Individuals & HUF to avail concessional…
View More Salary TDS – Employee to inform Employer for concessional rateDos & Don’ts for TDS Returns
Given below are some dos and don’ts for the filing of TDS returns: Dos Ensure that TDS return is filed with the same TAN against…
View More Dos & Don’ts for TDS Returns