Steps for Preparing Correction Returns Request for TDS (Consolidated) file from TRACES Download requested TDS (Consolidated) file from TRACES Upload TDS (Consolidated) file for correction into the software. This file is password protected [Password: TAN_Request… Read more »
Let us first understand the provisions of section 220(1) relating to payment of tax as per demand notice. Then we will understand the provision for levy of interest in case… Read more »
One can file TDS / TCS Returns (both Regular & Correction Statements) through the Income Tax e-Filing portal through Aadhaar authentication. Pre-requisites • TAN has to be registered at TRACES… 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 »
In the Finance Act 2020, a new sub section has been added which is vide Section 206C (1H) to give effect to the Tax collected at source (TCS) on sales… Read more »
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 »