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 return
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 »
File your TDS Returns (Q2) by 31st October, 2018
LAST DATE OF TDS RETURN FILING FOR QUARTER 2, FY: 2018-19 IS 31st OCTOBER, 2018 With the introduction of Section 234E, there is now a provision of stringent penalties for… 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 »
Fees for Late Filing of TDS Returns
Fees for Late Filing of TDS Returns are as follows: Section 234E-Levy of Fees Failure to submit TDS return on time will result in fees on the deductor. If you delay… Read more »