Please note the TDS/TCS Compliance dates for June 2018 as under: 7th June 2018 – Last date for TDS payment for deductions during May 7th…
View More Due Dates for the month of June 2018Category: TDS certificates
TDS Certificates
Consequences for a deductor if he fails to deduct TDS or fails to deposit it to the Government’s account
A deductor would face the following consequences if he fails to deduct TDS or after deducting the same fails to deposit it to the credit…
View More Consequences for a deductor if he fails to deduct TDS or fails to deposit it to the Government’s accountFees for Late Filing of TDS Returns
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…
View More Fees for Late Filing of TDS ReturnsEmployers required to collect PAN of the lender banks from the employees to claim Interest in House Property in the salary return
The Finance Act, 2015 had introduced a new section 192(2D) of the Income-tax Act, wherein the employer was obliged to collect the necessary evidence or…
View More Employers required to collect PAN of the lender banks from the employees to claim Interest in House Property in the salary returnTDS & TCS Rate Chart (FY: 2018-19 / AY: 2019-20)
 TDS RATE CHART FY: 2018-19 (AY: 2019-20) Section Nature of Payment Threshold Indv/ HUF Others   Rs. TDS Rate (%) 192 Salaries …
View More TDS & TCS Rate Chart (FY: 2018-19 / AY: 2019-20)Basic principles of TDS Compliance
The following are the basic principles of TDS compliance: Deduction/ Collection of Tax at Correct Rates Timely Deposit of Tax Deducted at Source Accurate Reporting…
View More Basic principles of TDS ComplianceCalculation of Late Deduction Interest
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…
View More Calculation of Late Deduction InterestBasic duties of the person who is liable to deduct tax at source
Following are the basic duties of the person who is liable to deduct tax at source: He shall obtain Tax Deduction Account Number and quote…
View More Basic duties of the person who is liable to deduct tax at sourceWhat is the Interest for non-payment of tax as per demand notice?
Let us first understand the provisions of section 220(1) relating to payment of tax as per demand notice. Then we will understand the provision for…
View More What is the Interest for non-payment of tax as per demand notice?TDS Compliances for the Month of April 2018
Last date for payment of tax deductions for March 2018 – 30th  April, 2018. Filing of TDS Returns for the quarter ended March 2018 (FY:2017-18…
View More TDS Compliances for the Month of April 2018