E-Returns for TDS / TCS was first introduced in 2002-03 and it has come a long way ever since. Currently, less than 1% are still on manually filed Returns. The generic procedure of preparing E-Return for fundamental understanding is summarized as below: Step – I The Income Tax Department has specified a data format in…
What is Form 26AS? It is a form issued under Rule 31AB, wherein the following information in relation to a PAN is published: TDS – Part A & A1 of Form 26AS TCS – Part B of Form 26AS Details of tax paid other than TDS / TCS – Part C of Form 26AS Details…
The TDS and TCS rates chart for the financial year 2015-16 has been given below: TDS rates for F.Y. 2015-16 Nature of Payment Made To Residents Cutoff (Rs.) Company / Firm / Co-operative Society / Local Authority Individual / HUF If No / Invalid PAN Section – Description …
Important due dates in the month of April 2015 has been given below: 7 April 2015 – Due date for deposit of Tax deducted under Section 194-IA in the month of March, 2015 22 April 2015 – Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of March,…
Keeping its tradition, TDSMAN is one of the first to have released the version for FY:2015-16. This will serve its users for the following: All TDS Returns for FY:2015-16 TDS Returns for Quarter 4-FY:2014-15 Pending TDS Returns of earlier years, if any Rectification of TDS Defaults for earlier periods On popular demand of its users,…
Given below are some dos and don’t for filing of TDS returns: Dos Ensure that TDS return is filed with same TAN against which TDS payment has been made. Ensure that correct challan particulars including CIN and amount is mentioned. Correct PAN of the deductee is mentioned. Correct section is quoted against each deductee record….
What is Form 26AS? It is a form issued under Rule 31AB, wherein the following information in relation to a PAN is published: TDS – Part A & A1 of Form 26AS TCS – Part B of Form 26AS Details of tax paid other than TDS / TCS – Part C of Form 26AS Details…
There has been a 50% increase in the filing of TDS statements in May 2014. Considering peak statement filing time, processing of statements might take up to 7 days from date of filing. Also, 99% of the statements filed till 12th May 2014 have been processed for 26AS. Source: TRACES
1. Last date for payment of tax deductions/collections for April-7th May 2014 2. Last date of filing of TDS/TCS returns for Q4 of F.Y. 2013-14 – 15th May, 2014 3. Last date for issuance of the TDS/TCS certificates for Q4 – 30th May, 2014 * The above is applicable for deductors other than the Office of the…
TDSMAN software is now available in 2 different editions: 1. Standard Edition 2. Professional Edition To compare the two editions, click here