Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report… Read more »
Preparing TDS Returns is a simple process and usually does not require any external assistance. However, it is well advised to follow few practices that ensure the correctness of your… Read more »
Due dates for TDS/TCS related compliances were extended on 24.06.2020 by CBDT (Central Board of Direct Taxes). The chart attached below is giving the information regarding the Extension of Due… Read more »
Under section 194J of the Income Tax Act 1961, is related to TDS deduction on fees for professional and technical services. Every person excluding and individual or a HUF, making… Read more »
If the employer has deducted the tax at source but failed to deposit wholly or partly, the tax so deducted in government account, the following statutory provisions are attracted:- Interest… Read more »
The difference between late payment and late deduction: Late payment: After the tax is deducted at source it has to be deposited into the government account by 7th of the… Read more »