E-Returns for TDS / TCS was first introduced in 2002-03 and it has come a long way ever since. Currently, less than 1% are still on manually filed Returns. The generic procedure of preparing E-Return for fundamental understanding is summarized as below: Step – I The Income Tax Department has specified a data format in […]
Category: TCS return
Due dates for TDS/TCS related compliances were extended on 24.06.2020 by CBDT (Central Board of Direct Taxes). The chart attached below is giving the information regarding the Extension of Due Dates for TDS/TCS Related Compliances Nature of compliance Original Due Date New due dates notified on 24-06-2020 Filing of TDS/TCS Statement (Form 24Q, 26Q, 27Q & 27EQ) […]
Due dates for TDS/TCS related compliances were extended on 24.06.2020 by CBDT (Central Board of Direct Taxes). The chart attached below is giving the information regarding the Extension of Due Dates for TDS/TCS Related Compliances Nature of compliance Original Due Date New due dates notified on 24-06-2020 Filing of TDS/TCS Statement (Form 24Q, 26Q, 27Q & 27EQ) […]
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 tax deductions/ collections made. Submission of TDS Statements within the due dates. Verification and Issuance of TDS Certificates within time. CPC (TDS) is now sending […]
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 refer to the following guidelines for correct reporting of 197 Certificates: The Certificate Number should be of 10 digits with Alpha-numeric structure. Please refer to […]
Given below are some do’s and don’ts for filing of TDS returns: Do’s Ensure that TDS return is filed with the same TAN against which TDS payment has been made. Ensure that correct challan particulars including CIN and amount is mentioned. Correct PAN of the deductee is mentioned. Correct section is quoted against each deductee […]