Tax Deducted at Source (TDS) & Tax Collected at Source (TCS) compliance is a crucial responsibility for all deductors and collectors. While the process is straightforward, common mistakes can lead to penalties, interest charges, and unnecessary complications. Here are some of the most frequent compliance pitfalls and actionable steps on how to avoid them. 1….
TDS / TCS – Deposit & Filing of Returns TDS / TCS – deductions / collections during the course of the month needs to be deposited by 7th of the next month i.e. for April, amount needs to be deposited by 7th May. This is similar for all months from April till February. However, as…
31st July 2021 – Due date of filing TDS Return for Quarter 1 of Financial Year 2021-2022 15th August 2021 – Due date of issuing TDS Certificate for Quarter 1 of Financial Year 2021-2022 31st July 2021 – Due date of issuing TDS Certificate for Quarter 4 of Financial Year 2020-2021 *Please ensure timely compliance to avoid interest and/or penalties Use TDSMAN…
7th July 2021 – Due date for TDS / TCS payment for deductions / collections during June 2021 15th July 2021 – Due date of filing TDS Return for Quarter 4 of Financial Year 2020-2021 31st July 2021 – Due date of issuing TDS Certificate for Quarter 4 of Financial Year 2020-2021 31st July 2021 – Due date of filing TDS Return for Quarter 1 of Financial Year…