TDSMAN Blog - Page 3 of 305

Sections under which interest for various delays/ defaults need to be paid

TDSMAN October 31, 2019 1 Comment

The sections under which interest for various delays/ defaults need to be paid are as follows:

Section 234A for delay in filing the return of income
Section 234B for default in payment of advance tax
Section 234C for deferment of payment of individual instalment or instalments of advance tax
Section 234D for excess refund granted to the taxpayer
Section 201(1A) for failure to deduct tax at source/delay in payment of tax deducted at source
Section 206C(7) is levied for failure to collect tax at source/delay in payment of tax collected at source

TDSMAN October 31, 2019 No Comments

31st October – due date of filing TDS Returns for FY: 2019-20, Quarter 2 (July – Sep)

Filing of TDS Returns for the quarter ended September 2019 (FY:2019-20 Quarter 2) is already under way since 1st October.

TDSMAN October 30, 2019 1 Comment

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 or forget to file your TDS return, fees of Rs. 200 per day will be levied on the deductor, as long as TDS return is not filed.
The levied amount of fee is not supposed to exceed the TDS deductibles.
Prior to TDS filing, such fee should be paid and it should be reflected in the TDS return.

TDSMAN October 28, 2019 No Comments

Due date for issuance of TCS certificates for Q2 of FY: 2019-20 – 30th October, 2019

Note: The above is applicable for deductors other than the Office of the Government

Delay in requesting certificates may involve a fine of Rs. 100 per day u/s 272(A)(g) subject to an upper limit of the tax deducted.