Belated Issue or Non Issue of TDS Certificate
Failure to issue TDS certificate within the time allowed, attracts penalty of Rs. 100/- per day of default (Sec 272A(2)(g)). However, penalty will not exceed the amount of tax deductible… Read more »
Category: TIN NSDL
Due dates for filing TDS returns
Every person responsible for making payment of nature covered by TDS provisions of Income Tax Act shall be responsible to deduct tax at source while making such payments. In… Read more »
Update TDSMAN immediately for the new TRACES integration
In the evening of 12th July 2013, TRACES has restructured their website which resulted in changes in the links of the different functions (such as downloading of consolidated statement, TDS… Read more »
Persons responsible to deduct TDS and the responsibilities of the deductor
The persons responsible to deduct TDS are mainly: Principal Officer of a company for TDS purpose including the employer in case of private employment or an employee making payment on… Read more »
Consequences of TDS defaults
Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit): Default/ Failure Section Nature of Demand Quantum of demand or penalty Failure to deduct tax… Read more »
Correction Statements – FVU version 3.8 validation incorporated
NSDL had launched the new FVU version 3.8 with effect from 1st July 2013 with major changes. Owing to this, downloading of Consolidated TDS file from TRACES and subsequent preparation and… Read more »