Reduction in TDS / TCS Rates
As part of the initiative in improving liquidity owing to the COVID crisis, it has been announced that TDS / TCS rates for non-salary payments…
View More Reduction in TDS / TCS RatesSteps for requesting Form 16
The procedure for requesting Form 16 from TRACES website has been given below: Since FY:18-19 onwards, the Income Tax department is now providing both Part…
View More Steps for requesting Form 16Interest on Late Deduction of TDS
The due date for deduction is either at the time of giving credit or payment of the dues, whichever is earlier. Late deduction happens in…
View More Interest on Late Deduction of TDSCompliance for December, 2020
* 7th December – due date for TDS/TCS payment for deductions/collections during November, 2020 * Make sure to do the needful to avoid interest. Interest on Late…
View More Compliance for December, 2020FAQ on Online Correction
What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the…
View More FAQ on Online CorrectionTypes 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:…
View More Types of Corrections in TDS ReturnsSpecial Discount on TDSMAN (FY: 2020-21)
Now you can prepare TDS/TCS Returns for all quarters of FY: 20-21 It covers: ✔ All TDS/TCS Returns for FY: 2020-21 ✔ All TDS/TCS Returns…
View More Special Discount on TDSMAN (FY: 2020-21)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.…
View More Tips to avoid Defaults in TDS ReturnsChallan ITNS 281- Important Points
Important points to note related to ITNS-281 are as follows: 1. Company Deductee/Non-Company Deductee – Although this appears in the Challan format, however it has…
View More Challan ITNS 281- Important PointsSteps for Preparing Correction Returns
Steps for Preparing Correction Returns Request for TDS (Consolidated) file from TRACES Download requested TDS (Consolidated) file from TRACES Upload TDS (Consolidated) file for correction into the software. This file…
View More Steps for Preparing Correction Returns