TDS / TCS Compliance Reminder for January 2025
7th January 2025 – Due date for TDS/TCS payment for deductions/collections during December 2024 15th January 2025 – Due date of filing TCS Returns for Quarter 3 of Financial Year… Read more »
Category: TDSMAN Software
What is TRACES?
TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online platform provided by the Income Tax Department of India. It facilitates the following services primarily related to Tax Deducted… Read more »
Consequences of furnishing wrong statements filing incorrect
With effect from 1 July 2012, failure to file TDS statement within the prescribed time shall make the deductor liable to pay by way of fee u/s 234E, a sum… Read more »
What are the consequences of TDS defaults and non-payment to government?
Failure to deduct tax, deducting less tax, delay in payment of the deducted tax to the Government, makes the deductor an assessee liable to penalty, which is equal to the… Read more »
TDS / TCS Compliance Reminder for September 2024
7th September 2024 – Due date for TDS / TCS payment for deductions / collections during August 2024 *Please ensure timely compliance to avoid interest and/or penalties Use TDSMAN Software to file… Read more »
Budget 2024-25 | TDS / TCS – proposed changes
In the recently announced Budget on 23rd July, 2024, there are quite a few proposals related to TDS / TCS. These have been summarized in this article. Highlights: Reduction /… Read more »