TDS on Non-Salary Payments – Good Practices
We are sharing with you some insights on good practices related to tax deductions for non-salary related payments: Based on the type of payment, make sure the Section is properly… Read more »
Category: TCS payment
Steps for Preparing Correction Returns
Steps: Request for TDS (Consolidated) file from Traces Download requested TDS (Consolidated) file from Traces Upload TDS(Consolidated) file for correction into the software Make corrections Generate the correction return Submit… Read more »
Steps for registration and e-filing of Form 15G and Form 15H
Below are the steps for registration and e-filing of Form 15G and Form 15H at the Income Tax India e-filing portal. Registration You need to visit Income Tax India e-filing… Read more »
Points to remember regarding TDS statement
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 »
Popular reasons for shifting out from outsourcing to preparing TDS Returns in-house
Based on a sample survey of around 100 organizations that shifted out of outsourcing, some of the popularly cited reasons included the following: Receiving a number of Default Notices for… Read more »
Unused Challan value can be used for future quarters / financial years
Unused tax paid in a challan can be used in the remaining quarters of the current financial year and can also be carried forward to the next year. For Example,… Read more »