Category: TDS

Tax Deducted At Source

Statutory provisions attracted on failure to deduct tax

Where the employer has failed to deduct tax or when short deduction of tax has been done, following statutory provisions are attracted:- Charging of interest u/s 201(1A) – The deductor… Read more »

Due Dates for the month of May 2015

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Important due dates in the month of May 2015 has been given below: 7 May 2015 – Due date for deposit of Tax deducted/collected for the month of April, 2015… Read more »

Closure 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 filed since FY 2007-08 onwards…. Read 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 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 the deductors since Financial Year… Read more »

Inappropriate 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 no Registered Digital Signature Certificates… Read more »