TDS/TCS Compliance for 4th Quarter of FY: 2016-17 has been given below: Last date for filing of TDS returns for Q4 of FY:2016-17 – 31st May, 2017 Last date for issuance of TDS certificates for Q4 of FY:2016-17 – 15th June, 2017 Last date for issuance of TCS certificates for Q4 of FY:2016-17 – 30th…
7 January 2017 – Due date for deposit of Tax deducted/collected for the month of December, 2016. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan 7 January 2017 –…
F.Ro. DGIT(S)/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. 12/ 2016 New Delhi, 8th December, 2016 Subject: Procedure for the purposes of furnishing and verification of Form 27BA for removing of default of Short Collection and/or Non Collection of Tax at Source –…
The due dates for filing statements for different forms are as per the below table: Quarter Period Government Deductor Non-Government Deductor Q1 1 Apr-30 June 31st July 15th July Q2 1 July-30 Sep 31st Oct 15th Oct Q3 1 Oct-31 Dec 31st Jan 15th Jan Q4 1 Jan-31 Mar 15th May 15th May Form 24Q,…
CBDT has issued a press release regarding extension of due date for deposit of tax deducted at source and tax collected at source for the State of Tamil Nadu. The issued press release has been given below: Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi,…
CBDT has extended the due date for deposit of tax deducted at source (TDS) and tax collected at source (TCS) during the month of November from December 7 to December 20, in respect of deductors located in Tamil Nadu. F.No. 385/26/2015-IT(B) Government of India Ministry of Finance Central Board of Direct Taxes (CBDT) New Delhi,…
Given below are some relevant guidelines related to payment of TDS/ TCS liability: A. Central Government Account (Receipts and Payments) Rules, 1983: Date of Receipt for Cheques or Drafts: The Central Government Account (Receipts and Payments) Rules, 1983 contain, inter alia, regulate public moneys received by or on behalf of the Government of India. As…
The TDS and TCS rates chart for the financial year 2015-16 has been given below: TDS rates for F.Y. 2015-16 Nature of Payment Made To Residents Cutoff (Rs.) Company / Firm / Co-operative Society / Local Authority Individual / HUF If No / Invalid PAN Section – Description …
Several amendments have been proposed in the sections dealing with the deduction of tax at source. 1. Requirement for obtaining evidence/ particulars by employer for TDS-Section 192 1.1 Currently, the person responsible for paying salary has to depend upon the evidence/particulars furnished by the employee in respect of deductions, exemptions and set-off of loss claimed….
Dear Deductor, Section 234E of the Income-tax Act, 1961 inserted by the Finance Act, 2012 provides for levy of a fee of Rs. 200/- for each day’s delay in filing the statement of Tax Deducted at Source (TDS) or Tax Collected at Source (TCS). The provision for Levy of Late filing fee was introduced to…