All tax deductions for September 2017 need to be deposited latest by 7th October 2017. Filing of TDS Returns for the quarter ended September 2017 (FY:2017-18 Quarter 2) is already under way since 1st October and the last date for filing TDS Returns is 31st October 2017. Last date for filing TCS return is 15th…
Prepare Returns for all Forms -24Q, 26Q, 27Q, 27EQ Prepare Correction statements Covers all previous financial years Import Data from Excel and Conso file Multi user option available (at additional cost) Eliminate PAN errors Predict Defaults before return submission Auto Tax Calculations Prompt Support on phone/email Fully integrated with TRACES
Steps Request for TDS (Consolidated) file from Traces Download requested TDS (Consolidated) file from Traces Upload TDS(Consolidated) file for correction into the software Make corrections Generate the correction return Submit the correction return to NSDL Use TDSMAN one of the leading softwares for preparing correction returns Types of Corrections in TDS Returns
There are 6 types of corrections namely C1, C2, C3, C4, C5, C9. The following table briefly talks about each correction type: Type Corrections in: C1 Deductor details: All details of deductor except the TAN No. can be modified. C2 Challan details: All details of the challan can be modified. C2 can include C1 type…
1. Last date for payment of tax deductions/collections for July – 7th August 2017. 2. Last date for issue of the TDS certificates for FY:17-18 (Q1) – 15th August, 2017.
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 is readily available It is simple to record this data and prepare the TDS Return for filing Convenient to…
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Tips to avoid Defaults in TDS Returns § 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 amount is credited, whichever is earlier. It implies that…
The Basic principles of TDS compliance are as follows Deduction of tax at correct rates at right time TDS needs to be deposited timely every month Correct reporting of the deduction/collection made Filing of the quarterly TDS return on time Issue of TDS certificates within stipulated time
All tax deductions for June 2017 need to be deposited latest by 7th July 2017 Filing of TDS Returns for the quarter ended June 2017 (FY:2017-18 Quarter 1) is already under way since 1st July and the last date is 31st July 2017 Last date for filing TCS return is 15th July Last date for…