Tax rates for various sections.
Get Standard Editions of TDSMAN (FY: 2018-19) & TDSMAN (FY: 2019-20) at Rs. 5850/- + GST @ 18% instead of Rs. 7800/- + GST@18% Click here to Order Now Prepare TDS Returns for all quarters for the current financial year and earlier years (including preparing Correction Statements) and also the forthcoming financial year. Please note TDSMAN (FY: 2018-19) will…
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…
The Income Tax Department has released today (21st December, 2018), the following new File Validation Utilities: FVU version 6.0 – For statement pertaining to FY 2010-11 onwards FVU version 2.156 – For statement up to FY 2009-10 Click here to view the key features of FVU version 6.0 & FVU 2.156 TDSMAN will incorporate new…
We are sharing with you some insights on good practices related to tax deductions for non-salary related payments: Based on the type of payment, make sure the Section is properly determined For each Section, be aware of the threshold limit applicable for exemption of deductions Check out the percentage of tax to be deducted This…
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…
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…
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. Tax needs to be deducted either when payment is made or when the amount is credited, whichever is earlier. It implies that the tax needs to be deducted on the…
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…
Use TDSMAN Software to simplify your TDS Returns preparation and effectively handle defaults and corrections. It will serve you for: ✔ All TDS Returns for FY: 2018-19 ✔ Online Filing ✔ Pending TDS Returns of earlier years, if any ✔ PAN Verification ✔ TRACES Integrated ✔ Default Predictor ✔ Interest & Auto Tax Calculator Visit…