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…
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. 12 dated 25th June 2021 issued by CBDT 15th July 2021 – Due date of filing TDS Return for Quarter 4 of Financial Year 2020-2021 (Earlier it was 30th June…
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…
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 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…
Due dates for TDS/TCS related compliances were extended on 24.06.2020 by CBDT (Central Board of Direct Taxes). The chart attached below is giving the information regarding the Extension of Due Dates for TDS/TCS Related Compliances Nature of compliance Original Due Date New due dates notified on 24-06-2020 Filing of TDS/TCS Statement (Form 24Q, 26Q, 27Q & 27EQ)…
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…
Due dates for TDS/TCS related compliances were extended on 24.06.2020 by CBDT (Central Board of Direct Taxes). The chart attached below is giving the information regarding the Extension of Due Dates for TDS/TCS Related Compliances Nature of compliance Original Due Date New due dates notified on 24-06-2020 Filing of TDS/TCS Statement (Form 24Q, 26Q, 27Q & 27EQ)…
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…
Following are some useful guidelines to avoid common mistakes, while submitting TDS Statements and you are requested to go through the following in detail. Incorrect reporting of 197 Certificates: Please refer to the following guidelines for correct reporting of 197 Certificates: The Certificate Number should be of 10 digits with Alpha-numeric structure. Please refer to…