TDS / TCS (Income Tax) – Information & Resource Bank
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…
Following are some useful guidelines to avoid common mistakes, while submitting TDS return: 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 the following examples: Correct Format 1111AA111A Incorrect Format: 1111AA111A/194C Certificate Number…
The following important notifications have been displayed on TRACES website: If you have received intermediate communication for statement on hold due to Short Payment and PAN error; please wait for 48 hours to submit Online Correction on TRACES. Considering peak statement filing time, processing of statements might take 7 to 10 working days from date…
TDSCPC has issued new instruction under which it has been directed to the the Tax deductors that if there are Short payment in a statement filed by deductor then deductor have to settle the default first otherwise he will not be able to download the Form 16/16A of the relevant quarter/period. The instruction has been…
Dear Deductor, As per the records of Centralized Processing Cell (TDS), there are Short Payment defaults, exceeding Rupees One Lakh, in the TDS Statement(s) submitted for various quarters of Financial Year 2013-14. The Short Payment default is on account of “Total amount of Tax Deducted” exceeding “Total amount of Tax Deposited”, as reported in your TDS…
According to CPC (TDS), there are outstanding short payment defaults for TDS statements filed by deductors. The letter issued by CPC (TDS) to deductors in this regard is given as followed: Dear Deductor, As per the records of the Centralized Processing Cell (TDS), there are outstanding Short Payment Defaults for TDS Statements filed by you, however,…
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…