Short Deduction

Procedure for the purposes of furnishing and verification of Form 26A for removing of default of Short Deduction and /or Non Deduction of Tax at Source

TDSMAN03 mins

F.No. DGlT(5)/CPC(TDS)/NOTIFICATION/2016-17 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 11 /2016 New Delhi, 2nd December, 2016 Subject:  Procedure for the purposes of furnishing and verification of Form 26A for removing of default of Short Deduction and/or Non Deduction of Tax at Source – Reg….

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Advisory regarding Lower Deduction Certificate for Deductor(s)

TDSMAN02 mins

Advisory for Deductors Deductors deduct tax at lower rate on payment/credit to deductee on production of certificate duly issued by assessing officers under section 197. Deductors quote such certificate number in quarterly TDS return. Instances of huge default of ‘Short Deduction’ have been observed due to wrong quoting of 197 certificate number. The scenario of…

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CPC (TDS) follow up communication: Substantial Reduction in TDS Deposited during Financial Year 2014

TDSMAN04 mins

CPC (TDS) has issued a follow up communication to all deductors regarding substantial reduction in the amount of Tax Deposited during the period April 1 to August 31, 2014  as compared with the corresponding period in Financial Year 2013.  The issued communication has been given below: Dear Deductor (TAN: ), As per the records of the Centralized…

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Solutions to the top queries about Short Payment and Short Deduction

TDSMAN135 mins

How much amount do I pay for intimation received on Short Payment with Provisional Interest? Provisional interest is calculated till the date of processing of statement. Deposit principal amount of short payment along with interest @ 1.5% per month from date of deduction till date of deposit and file the correction for the same. I…

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