TDS / TCS (Income Tax) – Information & Resource Bank
Remark T (i.e. for transporter transaction and valid PAN is provided) under deductee details (Annexure I) will be applicable from Q3 of FY 2009-10 onwards. (Said validation will be applicable only for Form 26Q). Total Tax deducted amount should be equal to Total Tax Deposited under Deductee details (i.e. Annexure I). This version of FVU…
Incorporation section code 192A and 194LBB: 192A & 194LBB have been added for below forms which will be applicable for statements pertain to FY 2015-16 & Q1 onwards. Section code 192A will be applicable for Form 26Q. Section code 194LBB will be applicable only for Form 26Q and 27Q. For section code 192A, select 92D…
The duties of person deducting tax at source and the rights of the tax payers has been given below: Duties of person deducting tax at source Deduct Tax at Correct Rate and deposit in Government Account-Sec 200 Every person responsible for deducting tax at source shall at the time of payment or credit of income,…
Important TDS due dates in the month of March 2015 has been given below: Due dates of TDS (tax deducted at source) for month of March: Due date for tds deductible in the month of March is 30.04.2015. No separate date provided for deduction made on 31.03.2015. This due date(30.04.2015) is not applicable for tds…
1. Who is required to file e-TDS / e-TCS statement? As per Income Tax Act, 1961, all corporate and government deductors / collectors are mandatorily required to file their TDS / TCS statements on electronic media (i.e. e-TDS / TCS statements). However, deductors / collectors other than corporate / government can file either in physical…
CPC (TDS) has issued a reminder to the deductors regarding raising of Flag “B” in TDS Quarterly Statements against 15G/H Forms for FY 2013-14. The issued communication has been given below: Dear Deductor, As you may be aware that the depositors submit form 15G/H to the bank for no deduction of tax to be made…
What should I do in case of Late Payment / Late Deduction intimation received? The default amount will have to be deposited through challan no 281 by ticking minor head ‘400’. Download conso file from TRACES for filing correction and update the challan detail. While filing correction, fill up interest amount in column no. 403…
What should One do on receipt of demand notice u/s 234E Late Filing? The default amount will have to be deposited through challan no. 281. Download conso file from TRACES for filing correction and tag the paid challan without adding any deductee records. While filing correction, fill up the fee amount in Fee column in…
TDS related forms and rules regarding digital singnature of TDS return has been changed through INCOME-TAX (SECOND AMENDMENT) RULES, 2013 – AMENDMENT IN RULES 31A & 31AA; SUBSTITUTION OF RULES 31ACB, 37J and FORM NOS.15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ and INSERTION OF FORM NO. 26B, notification no 11/2013 date…