For tax deductions of employees, vendors or others, one needs to ensure timely transfer of tax credit to their account. This is possible only by proper compliances which is listed below: • Make sure taxes are deducted correctly – this is a routine accounting activity • Deposit these tax deductions before the stipulated date –…
For tax deductions of employees, vendors or others, one needs to ensure timely transfer of tax credit to their account. This is possible only by proper compliances which is listed below: • Make sure taxes are deducted correctly – this is a routine accounting activity • Deposit these tax deductions before the stipulated date –…
Last date for payment of tax deductions for December 2015 – 7th January, 2016 Last date for filing of TDS returns for Q3 of FY: 2015-16 – 15th January, 2016 Last date for issuance of TDS certificates for Q3 of FY: 2015-16 – 30th January, 2016 The above dates are applicable for non – government deductors….
Sometimes it has been observed that Flag B is not being raised for 15G/ H Forms in quarterly TDS Statements filed. The prevalent practice is to raise the flag only in the TDS Statements filed in the last quarter of the Financial Year, however, such transactions must be reported within the relevant quarter. The obligation…
1. Leave allowance: An employee can use such an allowance to cover his domestic travel and can be used for air, rail, and road transport. 2.Gratuity paid to an employee also has taxation benefits. To determine the taxability of gratuity, it is important to understand whether an employee is covered by payment of gratuity act. If an…