Preparing Salary TDS Return – Form 24Q (Q4)
Form 24Q (Salary TDS Return), in the fourth quarter (Q4) includes two annexures – Annexure I and Annexure II. – Annexure I is the regular…
View More Preparing Salary TDS Return – Form 24Q (Q4)Compliance for September, 2020
* 7th September – due date for TDS/TCS payment for deductions/collections during August, 2020 * Make sure to do the needful to avoid interest. Healthy…
View More Compliance for September, 2020FAQs on Correction Return Preparation more than once on the same Regular Return
How many times can I furnish a correction TDS/TCS statement? A correction TDS/TCS return can be furnished many times to make changes in the regular…
View More FAQs on Correction Return Preparation more than once on the same Regular Return197 Certificate – Rationale, Brief Analysis & Validation
What is 197 Certificate? The section 197 of Income Tax Act, 1961 provides the facility of non-deduction or lower deduction of tax. The assesse whose…
View More 197 Certificate – Rationale, Brief Analysis & ValidationReasons to reject the correction in challan detail by TDS-CPC
Rejection reasons pertaining to challan details are as follows: Challan detail record on which correction has been filed does not exist in regular / previous…
View More Reasons to reject the correction in challan detail by TDS-CPCHealthy Practices for Error-Free TDS Returns
Healthy practices for error-free TDS returns has been given below:Â Deduction/ Collection of Tax at Correct Rates. Timely Deposit of TDS/TCS Accurate Reporting of data…
View More Healthy Practices for Error-Free TDS ReturnsSalary TDS – Employee to inform Employer for concessional rate
Section 115BAC has been inserted in the Finance Act 2020 in the recent budget. This allows the option to Individuals & HUF to avail concessional…
View More Salary TDS – Employee to inform Employer for concessional rateSection 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)Fees 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 ReturnsBasic 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: One shall obtain Tax Deduction Account Number and quote…
View More Basic duties of the person who is liable to deduct tax at source