Reduction in TDS / TCS Rates
As part of the initiative in improving liquidity owing to the COVID crisis, it has been announced that TDS / TCS rates for non-salary payments will be reduced by 25%… Read more »
Author Archives: TDSMAN
Form 26A/27BA – Rationale and Brief Analysis
What is Form 26A/27BA? As per Notification No. 11/2016 and 12/2016 a procedure for furnishing and verification of Form 26A/27BA is introduced for removing of default of Non Deduction/Collection Transaction… Read more »
Online TDS/TCS/Demand Payment using Challan ITNS 281
Challan no. ITNS 281 is used by deductors to deposit TDS, TCS and demand payment. Following details are necessary to fill while payment of Challan ITNS 281: 1. Tax Applicable… Read more »
Salary TDS – Employee to inform Employer for concessional rate
Section 115BAC has been inserted in the Finance Act 2020 in the recent budget. This allows the option to Individuals & HUF to avail concessional rate of income tax with… Read more »
7th May – Due date for TDS & TCS payment for April
7th May, 2020 is the due date for TDS and TCS payments for the deductions made in April 2020. Make sure to do the needful on time to avoid interest…. Read more »
TDS Returns – March 2020 Quarter – Date Extended
As per the gazetted notification issued by Govt. of India, all due dates, prescribed or notified under the Income Tax Act, which will falls during the period – 20th March 2020… Read more »