Tips to avoid Defaults in TDS Returns
Tips to avoid Defaults in TDS Returns § Make sure taxes are deducted on time and at correct deduction rates /amount. The applicable section under which the deduction falls should… Read more »
Category Archives: TDS certificates
Basic Principles of TDS Compliance
The Basic principles of TDS compliance are as follows Deduction of tax at correct rates at right time TDS needs to be deposited timely every month Correct reporting of the… Read more »
Calculation of Late Deduction interest
If tax was deductible on 2nd June (i.e. at the time of giving credit or actual payment of the dues whichever is earlier) but was deducted on 3rd June then… Read more »
Consequences of TDS defaults
Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit): Default/ Failure Section Nature of Demand Quantum of demand or penalty Failure to deduct… Read more »