Note: Effective FY: 2025-26, as per the Union Budget, removal of Higher TDS/TCS Rates for Non-Filers [Section: 206AB & 206CCA]. 1. Section 206AB Applicability: This shall be effective from 1st… Read more »
The pragmatic Budget of 2021 introduces new TDS/ TCS provisions with a view to not only minimize tax evasion, insinuate higher TDS/TCS rates in case of non-filing of Income Tax… Read more »
The difference between late payment and late deduction: Late payment: After the tax is deducted at source it has to be deposited into the government account by 7th of the… Read more »
If the employer 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 »
Preparing TDS Returns is a simple process and usually does not require any external assistance. However, it is well advised to follow few practices that ensure the correctness of your… Read more »
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… Read more »