In the evening of 12th July 2013, TRACES has restructured their website which resulted in changes in the links of the different functions (such as downloading of consolidated statement, TDS certificate, etc.) within their website. For these reasons, integration to TRACES through TDSMAN was affected owing to which users were facing difficulties. On emergency basis, […]
Day: July 13, 2013
The persons responsible to deduct TDS are mainly: Principal Officer of a company for TDS purpose including the employer in case of private employment or an employee making payment on behalf of the employer. DDO (Drawing & Disbursing Officer), In case of Govt. Office any officer designated as such. In the case of “interest on […]
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 tax at source 201(1) Tax demand Equal to tax amount deductible but not deducted 201(1A) Interest @1 % p.m. of tax deductible 271C Penalty Equal amount […]