NSDL TCS TDS TDS certificates Traces

TDS under section 194N

In an endeavor to reduce cash payments/withdrawals the Budget of 2019 introduced Section 194N; which states that TDS shall be deducted by the payer in case of cash withdrawal above a given threshold. Applicability: Applies in case of cash withdrawals of more than Rs 1 crore during a financial year. Applies to sum of money […]

CBDT Income Tax NSDL PAN TAN TDS TDS certificates Traces

Preparing Salary TDS Return – Form 24Q (Q4)

Form 24Q (Salary TDS Return), in the fourth quarter (Q4) includes two annexures – Annexure I and Annexure II. – Annexure I is the regular quarterly data for the months of January to March. – Annexure II is the tax computation calculation information for each employee along with summary and tax deduction (TDS) for the […]

194IB CBDT Form 16 TAN TDS TDS certificates Traces

Section 194IB – TDS on Rent (for Individuals & HUF)

Effective from 1st June 2017, individuals & HUF not covered under tax audit have been subjected to deduct tax at source for rent payments if it is Rs. 50,000 or more per month. Salient features: Applicable only to individuals & HUF who are not under tax audit (under section 44AB) This section is applicable from 1st […]

TCS TDS TDS certificates

TDS / TCS Compliances for April 2021

7th April 2021 – Due date for TCS payment for collection during March 2021 30th April 2021 – Due date for TDS payment for deduction during March 2021 15th April 2021 –  Due date for issuing TDS/TCS certificate for Q1 & Q2 of Financial Year 20-21 *Please ensure timely compliance to avoid interest and/or penalties Use TDSMAN Software to file […]