Category: TDS payment

Statutory provisions attracted on failure to deposit tax in government account after deduction

If the employer has deducted the tax at source but failed to deposit wholly or partly, the tax so deducted in government account, the following statutory provisions are attracted:- Interest… Read more »

What is the Interest for non-payment of tax as per demand notice?

Let us first understand the provisions of section 220(1) relating to payment of tax as per demand notice. Then we will understand the provision for levy of interest in case… Read more »

7th January – due date for TDS & TCS payment for December

7th January, 2020 is the due date for TDS and TCS payments for the deductions made in December 2019. Make sure to do the needful on time to avoid interest…. Read more »

Budget 2019 – TDS on gross amount including incidental charges while purchasing of immovable property

Any person (buyer) who is liable to make payment while purchasing immovable property should deduct TDS mentioned u/s 194 – IA. If amount of ‘consideration’ payable for transfer of immovable… Read more »

Budget 2019 – Relaxation of Section 201 in respect of payments to non-residents

If the deductor fails to deduct whole or any part of the tax or he fails to deposit the tax to credit of Central Govt. he will be considered to… Read more »