The following details are required for registration with TRACES: For Deductors Step-1: TAN of Deductor Step-2: 1. Token Number of the regular statement corresponding to the Financial Year, Quarter and… Read more »
The Finance Act, 2015 had introduced a new section 192(2D) of the Income-tax Act, wherein the employer was obliged to collect the necessary evidence or proof in Form 12BBÂ to… Read more »
Owing to pay salary to an employee the employer deducts a certain amount of TDS from salary of that employee u/s 192. The employer should file TDS return on salary… Read more »
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… Read more »