As per the records of Centralized Processing Cell (TDS), the TDS Statement(s) for some of the quarters have not been submitted within the prescribed due date. Intimation u/s 200A of the Income Tax Act, 1961 intimating an outstanding demand for the relevant quarters, including demand under section 234E towards Fee for delayed filing of TDS…
What should One do on receipt of demand notice u/s 234E Late Filing? The default amount will have to be deposited through challan no. 281. Download conso file from TRACES for filing correction and tag the paid challan without adding any deductee records. While filing correction, fill up the fee amount in Fee column in…
TDSCPC has sent a message to all the deductors, in which it has shown concern over wrong filing of TDS return by the deductors and has suggested few tips which may be helpful to file correct and timely eTDS returns. Letter send by TDSCPC is given below for your ready reference: Dear Deductor, You are…
Change in validation of quarterly TDS/TCS statements are as below: Book entry flag should not be provided in the challan details for nil challan/nil transfer voucher for all the financial years. In the salary details (Form 24Q Q4-Annexure II), if PAN provided is invalid (i.e. PANNOTAVBL, PANAPPLIED & PANINVALID), then the flag in the column…
Guidelines for reporting TDS transactions not exceeding / exceeding threshold limit in quarterly TDS statements (as issued by Directorate of Income Tax – Systems). Below guidelines may be referred, if deductor wishes to report the transaction in the quarterly TDS statement where no tax is deducted as threshold limit (as per the provisions of the…