Basic duties of the person who is liable to deduct tax at source

Following are the basic duties of the person who is liable to deduct tax at source:

  • One shall obtain Tax Deduction Account Number and quote the same in all the documents pertaining to TDS.
  • One shall deduct the tax at source at the applicable rate.
  • One shall pay the tax deducted by him at source to the credit of the Government (by the due date specified in this regard*).
  • One shall file the periodic TDS statements, i.e., TDS return (by the due date specified in this regard*).
  • One shall issue the TDS certificate to the payee in respect of tax deducted by him (by the due date specified in this regard*).

*Refer tax calendar for the due dates.

Late Payment Intimation – reasons & how to resolve?

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