TDS Certificates
Last date for payment of tax deductions for March 2019 – 30th April, 2019. Filing of TDS Returns for the quarter ended March 2019 (FY:2018-19 Quarter 4) is already under way since 1st April. Basic provisions relating to due date for payment of TDS Sections under which interest for various delays/ defaults need to be…
On popular demand, we are pleased to announce the release of TDSMAN (FY: 2019-20). Now you can prepare TDS Returns for Q4 of FY: 2018-19 and all quarters of the next FY: 2019-20: It covers: ✔ All TDS Returns for FY: 2019-20 ✔ All TDS Returns for FY: 2018-19 ✔ Pending TDS Returns of earlier…
Central Board of Direct Taxes (CBDT) | Press Release | 20.01.2019 New Delhi: Central Board of Direct Taxes (CBDT) today said that certain news items that appeared in a section of media regarding enmasse issue of prosecution notices to small companies for TDS default are completely misleading and full of factual inaccuracies. CBDT clarified that…
On popular demand, we are pleased to announce the release of TDSMAN (FY: 2019-20). Now you can prepare TDS Returns for Q3 & Q4 of FY: 2018-19 and all quarters of the next FY: 2019-20. It covers: All TDS Returns for FY: 2019-20 All TDS Returns for FY: 2018-19 Pending TDS Returns of earlier years,…
If tax was deductible on 2nd June (i.e. at the time of giving credit or actual payment of the dues whichever is earlier) but was deducted on 3rd June then the interest charged would be 1% of the amount for the late deduction. Difference between Late Payment & Late Deduction Interest on Late Deduction of…
TDSMAN has been updated for the following newly released File Validation Utilities: FVU ver. 6.0 – For statement pertaining to FY 2010-11 onwards FVU ver. 2.156 – For statement up to FY 2009-10 To update TDSMAN – Click on: Utilities – Update Software Click here to view the key features of FVU version 6.0 & FVU 2.156
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…
For tax deductions of employees, vendors or others, one needs to ensure timely transfer of tax credit to their account. This is possible only by proper compliances which is listed below: • Make sure taxes are deducted correctly – this is a routine accounting activity • Deposit these tax deductions before the stipulated date –…
Please note that 7th December 2018 is the last date for TDS and TCS payments for the deductions made in November 2018. Make sure to do the needful on time to avoid interest. To understand the details/ calculations for late payment interest click on the links below. Calculation of Late Payment Interest Interest on Late Payment of…
What is Form 16 / 16A? It is the certificate of deduction of tax at source by any person in accordance with Chapter XVII-B of IT Act. Form 16 is issued on deduction of tax by the employer on behalf of the employee under section 192 of IT Act, 1961. Form 16A is issued if the deduction…