What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS/TCS statements online. Following are the various…
View More FAQ on Online CorrectionTag: Traces
Basic principles of TDS Compliance
The following are the basic principles of TDS compliance: Deduction/ Collection of Tax at Correct Rates Timely Deposit of Tax Deducted at Source Accurate Reporting…
View More Basic principles of TDS ComplianceProcessing of statements might take 7 to 10 working days from date of filing
An important information regarding TDS statement has been displayed at TRACES website which states as follows: Considering peak statement filing time, processing of statements might…
View More Processing of statements might take 7 to 10 working days from date of filingTDS Statement filing for Q4 for FY: 2014-15 – Please don’t wait for the last moment for your submissions
CPC (TDS) has issued an advisory communication to all deductors stating that they should not wait for the last moment to submit their TDS statements…
View More TDS Statement filing for Q4 for FY: 2014-15 – Please don’t wait for the last moment for your submissionsDifferent statuses available on TRACES regarding TDS / TCS statement
Below are the Different statuses available on TRACES regarding TDS / TCS statement Following processing status shall be displayed for regular statement: Pending for Processing…
View More Different statuses available on TRACES regarding TDS / TCS statementTips to avoid all types of TDS Defaults
One can avoid defaults in the TDS statements, by way of adherence to the following basic principles:Â Â Timely Payment of total taxes deducted/ collected Correct…
View More Tips to avoid all types of TDS DefaultsDos & Don’ts for TDS Returns
Given below are some do’s and don’t for filing of TDS returns: Do’s Ensure that TDS return is filed with same TAN against which TDS…
View More Dos & Don’ts for TDS ReturnsClosure of Short Payment Defaults in excess of Rupees 50 Lakh in TDS Statements filed since FY 2007-08 onwards
CPC(TDS) has issued a follow up communication to all deductors regarding closure of Short Payment Defaults in excess of Rupees 50 Lakh in TDS Statements…
View More Closure of Short Payment Defaults in excess of Rupees 50 Lakh in TDS Statements filed since FY 2007-08 onwardsCPC (TDS) follow-up for closure of Short Payment Defaults in excess of Rupees 1 Crore in TDS Statements filed since FY 2007-08 onwards
CPC (TDS) has observed from its records that there are outstanding Short Payment Defaults exceeding Rs. 1 Crore, with respect to TDS Statements filed by…
View More CPC (TDS) follow-up for closure of Short Payment Defaults in excess of Rupees 1 Crore in TDS Statements filed since FY 2007-08 onwardsInappropriate usage of Digital Signature Certificates (DSC) for availing services of TRACES
CPC (TDS) has observed from its records that Online Corrections have been submitted by deductors on TRACES by using Digital Signature Certificate but there are…
View More Inappropriate usage of Digital Signature Certificates (DSC) for availing services of TRACES