Last date for issuance of TDS/TCS certificates for Q2 of FY: 2015-16 is 30th October, 2015 The above is applicable for all other than government deductors Delay in certificates may involve a fine of Rs. 100 per day u/s 272(A)(g) subject to an upper limit of the tax deducted. Click here for more details.
Month: October 2015
Given below are some important information regarding downloading of TDS certificates. Refer to the following provisions of the Income Tax Act, 1961: Downloading of TDS Certificates from TRACES made mandatory: In this regard, your attention is invited to the CBDT circulars 04/2013 dated 17.04.2013, No. 03/2011 dated 13.05.2011 and No. 01/2012 dated 09.04.2012 on the […]
Following are the common reasons for rejecting a correction statement: TAN is not valid as per data at TDSCPC Statement corresponding to regular token number / previous token number field, as given in correction return, does not exist Previous token number does not correspond to the last accepted correction statement at TDSCPC Correction is filed […]
Given below are some dos and dont for filing of TDS returns: Dos Ensure that TDS return is filed with same TAN against which TDS payment has been made. Ensure that correct challan particulars including CIN and amount is mentioned. Correct PAN of the deductee is mentioned. Correct section is quoted against each deductee record. […]
Given below are the points one should remember before filing quarterly TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government / Non-Government) of the deductor, PAN of the deductees and other particulars of deduction […]
The CBDT has simplified the procedure for filing of self declaration by individuals in 15G and 15H forms, allowing them to do it electronically. Seek easy exemption from TDS on interest: File Form 15G/H electronically. What is Form 15G/ 15H? Forms 15G and 15H are filed by persons whose incomes are below the taxable threshold, to […]