Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government / Non-Government) of the deductor, PAN of the deductees and other particulars of deduction of…
A new Section 194N proposed to be included in Income Tax Act. If the withdrawal of cash exceeds Rs. 1 crore in a financial year a 2% of TDS will be deducted by a bank or post office from withdrawn cash of savings or current account. However no TDS will be deducted if cash is…
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 the deductor. If you delay or forget to file your TDS return, fees of Rs. 200 per day will be levied on the deductor, as long as TDS return is…
Following are some useful guidelines to avoid common mistakes, while submitting TDS Statements and you are requested to go through the following in detail. Incorrect reporting of 197 Certificates: Please refer to the following guidelines for correct reporting of 197 Certificates: The Certificate Number should be of 10 digits with Alpha-numeric structure. Please refer to…
F. No. 225/157/2019/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** North-Block, ITA-II Division New Delhi, the 27th September, 2019 Order under Section 119 of the Income-tax Act, 1961 The ‘due-date’ for filing income-tax returns for Assessment-Year 2019-20 is 30.09.2019 for assessees covered under clause (a) of Explanation…
Following are some useful guidelines to avoid common mistakes, while submitting TDS Statements and you are requested to go through the following in detail. Incorrect reporting of 197 Certificates: Please refer to the following guidelines for correct reporting of 197 Certificates: The Certificate Number should be of 10 digits with Alpha-numeric structure. Please refer to…
Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government / Non-Government) of the deductor, PAN of the deductees and other particulars of deduction of…
Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government / Non-Government) of the deductor, PAN of the deductees and other particulars of deduction of…
The procedure for requesting Form 16 from TRACES website has been given below: From FY:18-19 onwards, the Income Tax department is now providing both Part A and Part B of Form 16 (TDS certificate for employee) The steps for requesting Form 16 are: Login to TRACES after giving User ID, Password, TAN of the Deductor…
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 the deductor. If you delay or forget to file your TDS return, fees of Rs. 200 per day will be levied on the deductor, as long as TDS return is…