Special Combo Offer on TDSMAN (FY: 2018-19 & FY: 2019-20)

Get Standard Editions of TDSMAN (FY: 2018-19) & TDSMAN (FY: 2019-20)
at Rs. 5850/- + GST @ 18% instead of Rs. 7800/- + GST@18%

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Prepare TDS Returns for all quarters for the current financial year and earlier years (including preparing Correction Statements) and also the forthcoming financial year.

Please note  TDSMAN (FY: 2018-19) will be made available immediately, and TDSMAN (FY: 2019-20) once it is launched sometimes in April 2019. This offer is extended till 17th January, 2019.

Some of the features of TDSMAN Software are as follows:

  • Online Filing
  • Bulk PAN Verification
  • Online Challan Validation
  • Default Analysis to avoid Errors
  • Auto Tax and Interest Calculation
  • Fully integrated with TRACES

Click here to Get Free Trial


TDS Compliances for the month of January 2019

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All tax deductions for December 2018 need to be deposited latest by 7th January 2019.

Filing of TDS Returns for the quarter ended December 2018 (FY:2018-19 Quarter 3) is already under way since 1st January and the last date is 31st January 2019.

Last date for filing TCS return is 15th January, 2019 and for issue of TCS certificate 30th January, 2019.


Interest on Late Payment of TDS

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In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every month or every part of the month during which the amount is not deposited with the government.

Interest @ 1.5% is liable to be paid from the date on which the TDS amount was deducted and not from the date the TDS payment was due. 

For example: TDS was deducted on 25th June and the due date for TDS Payment was 7th July. The assessee fails to deposit the TDS by 7th July. In such a case, the Interest would be calculated from 25th June and not from 7th July.

The interest is to be calculated as per illustrations below: 

Case 1:

Tax Deducted on 26th June, TDS deposited on 9th July (due date was 7th July)

The period of 26th June to 30th June will be calculated as one month (being part of a month month i.e. 30 – 26 = 4 days) & from 1st July to 9th July will also be treated as one month. As such in this case, the interest payable is for two months. Total interest would be 3%. Sounds odd, but it is true –  for a delay of 2 days, one has to pay interest for two months. 

Note: In the above case, if tax was deducted on 30th June instead of 26th June, the number of days in June is calculated as 30 – 30 = 0 days. As such interest for one month will be charged i.e. only for July.

Case 2:

Tax Deducted on 20th March, TDS deposited on 5th May  (due date was 30th April)

The period of 20th March to 31st March will be calculated as one month, 1st April to 30th April will be another month & from 1st May to 5th May will be treated as another one month. As such in this case, the interest payable is for three months. Total interest would be 4.5%. For a 5 day delay, the interest payable is for 3 months. 

Logic behind this calculation is that, if dues are not paid on time, the interest for each month (or part thereof) is to be paid right from the date of deduction till date of deposit of the TDS amount. Each month is treated based on the Calendar Month or part thereof, instead of counting the number of days. However, if tax is deducted on the last day of the month, in that case, that month is not counted for calculation of interest.

Important: there is a difference between late deduction and late payment. Learn more

Difference between Late Payment & Late Deduction

Interest on Late Deduction of TDS


TDSMAN updated with FVU ver. 6.0 & FVU ver. 2.156

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TDSMAN has been updated for the following newly released File Validation Utilities:

FVU ver. 6.0 – For statement pertaining to FY 2010-11 onwards
FVU ver. 2.156 – For statement up to FY 2009-10

To update TDSMAN – Click on: Utilities – Update Software

Click here to view the key features of FVU version 6.0 & FVU 2.156