TDS / TCS (Income Tax) – Information & Resource Bank
CPC (TDS) has issued a communication to banks regarding raising of Flag “B” in TDS Quarterly Statements against 15G/H transactions. The issued communication has been given below: Dear Deductor (TAN XXXXXXXXX), As you may be aware that the depositors submit form 15G/H to the bank for no deduction of tax to be made on the…
CPC (TDS) has issued a advisory communication in which it has recommended deductors that in case there are Short Payment Defaults in their TDS Statements due to Mismatch of Challans then they can get the default closed using Online Correction feature, which is available for TDS Statements related to Financial Year 2007-08 onwards. The issued…
e-TDS return has to be prepared in accordance with the file format prescribed by the Income Tax Department. NSDL has provided free downloadable utility at http://tin-nsdl.com for the purpose of preparation of e-TDS return. Alternatively, various softwares are available for preparation of TDS returns. One can use TDSMAN software for preparation and filing of e-TDS Returns smartly and efficiently. Following points…