Nil TDS Statement / Declaration – Overview
TRACES introduced NIL TDS Statement/Declaration of TDS from the FY 2014-15. This is applicable for Deductors who did not deduct any tax during the relevant quarter. What is the benefit… Read more »
Category: TAN
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 »
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 »
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 »
Healthy Practices for Error-Free TDS Returns
Healthy practices for error-free TDS returns has been given below: Deduction/ Collection of Tax at Correct Rates. Timely Deposit of Tax Deducted at Source. Accurate Reporting of data related to… 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 »