Interest on Late Payment of TDS
In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every… Read more »
Category: CBDT
Section 194Q – CBDT Issues Clarification
CBDT has issued a set of clarifications regarding Section 194Q (TDS on Purchase of Goods) Reference: Circular No. 13 dated 30th June 2021, issued by CBDT Click here to view… Read more »
Further Extension of Date for TDS Returns (FY: 2020-21, Q-4)
Extension of time limits for certain TDS compliances has taken place, to provide relief to taxpayers in view of the severe pandemic. Reference: Circular No. 12 dated 25th June 2021… Read more »
206AB & 206CCA Compliance Check – Quick Guide
Note: Effective FY: 2025-26, as per the Union Budget, removal of Higher TDS/TCS Rates for Non-Filers [Section: 206AB & 206CCA]. The Income Tax Department has activated the online system to… Read more »
Compliance Check for Section 206AB & 206CCA – CBDT Circular
Note: Effective FY: 2025-26, as per the Union Budget, removal of Higher TDS/TCS Rates for Non-Filers [Section: 206AB & 206CCA]. To ease the compliance burden, CBDT (Central Board of Direct… Read more »
Section 194C – TDS on Transporter
Section 194C of the Income Tax Act, 1961 states that any payment to a transporter is subject to a Tax Deduction at Source (TDS) at the rate of: –1% in… Read more »