Rejection reasons pertaining to challan details are as follows: Challan detail record on which correction has been filed does not exist in regular / previous statement In a correction statement,… Read more »
Taxpayers, deductors or collectors can pay direct taxes through Authorised Bank branches either physically, through ATM or through internet. Type of Challans to be used for tax payments Challan Description ITNS… Read more »
Where the employee has deducted the tax at source but failed to deposit wholly or partly, the tax so deducted in government account, the following statutory provisions are attracted:- Interest… Read more »
What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the various facilities available through online… Read more »
Fees and Penalty 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… Read more »
One can avoid defaults in the TDS returns, by way of adherence to the following basic principles: Timely Payment of total taxes deducted/ collected Correct Reporting with regard to… Read more »