Section 194IB – TDS on Rent (for Individuals & HUF)
Effective from 1st June 2017, individuals & HUF not covered under tax audit have been subjected to deduct tax at source for rent payments if it…
View More Section 194IB – TDS on Rent (for Individuals & HUF)TDS / TCS at Higher Rates for Non-filers of IT-Return
1. Section 206AB Applicability: This shall be effective from 1st July’21 Specified person has not filed the ITR for 2 previous years and time limit…
View More TDS / TCS at Higher Rates for Non-filers of IT-ReturnTDS Under Section 194J(a) & 194J(b)
The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub divided now into two sections, 194J(a) and 194J(b), effective from…
View More TDS Under Section 194J(a) & 194J(b)TDS / TCS Compliances Reminder for July 2022
7th July 2022 – Due date for TDS/TCS payment for deductions/collections during June 2022 15th July 2022 – Due date of filing TCS Return for Quarter 1 of Financial Year 2022-2023…
View More TDS / TCS Compliances Reminder for July 2022Compliance Check for Section 206AB & 206CCA – CBDT Circular
To ease the compliance burden, CBDT (Central Board of Direct Taxes) vide Circular No. 11 of 2021 dated 21st June 2021, has announced a new…
View More Compliance Check for Section 206AB & 206CCA – CBDT CircularOnline TDS / TCS / Demand Payment using Challan ITNS 281
Challan no. ITNS 281 is used by deductors to deposit TDS, TCS and demand payment. Following details are necessary to fill while payment of Challan…
View More Online TDS / TCS / Demand Payment using Challan ITNS 281Sec 115BAC – New Regime for Tax Computation
The government has been looking at avenues to make income tax provisions simplified and lessen dependencies on consultants. A step towards it came through the…
View More Sec 115BAC – New Regime for Tax ComputationLate Payment Intimation – reasons & how to resolve?
In the TDS Return filed, the intimation for Late Payment can be received for the following reasons: Case #1: There was a delay in payment…
View More Late Payment Intimation – reasons & how to resolve?Consequences of TDS defaults
Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit) : Default/ Failure Section Nature of Demand Quantum of…
View More Consequences of TDS defaults206AB & 206CCA Compliance Check – Quick Guide
The Income Tax Department has activated the online system to determine the ‘Specified Person’ on whom the higher rate of TDS / TCS will be…
View More 206AB & 206CCA Compliance Check – Quick Guide