Allocation of Interest in TDS Returns
For delayed payment of TDS or delayed deduction, the deductor needs to pay interest for these delays. The interest is paid in through Challan / Book Entry similar to TDS… Read more »
Monthly Archives: September 2021
Section 194B: TDS on Winnings from Horse Races
TDS shall be deducted on winnings from horse races. 1. Applicability: Winning amount needs to be more than Rs 10,000. 2. Deductor: Any person shall deduct the tax at the… Read more »
Section 194B: TDS on Winnings from Lottery, Game Shows etc…
TDS shall be deducted on winnings from lottery, game shows and puzzles by the prize distributor. 1. Applicability: Winning amount needs to be more than Rs 10,000 2. Deductor: Prize… Read more »
Useful guidelines to avoid common mistakes while submitting TDS Statements
Following are some useful guidelines to avoid common mistakes, while submitting TDS Statements and you are requested to go through the following in detail. Incorrect reporting of 197 Certificates: Please… Read more »
Late Payment Intimation – reasons & how to resolve?
In the TDS Return filed, the intimation for Late Payment can be received for the following reasons: Case #1: There was a delay in payment of TDS dues for which… Read more »