Preparing Nil TDS Statement / Declaration
TRACES introduced NIL TDS Statement/Declaration of TDS from the FY 2014-15. This is applicable for Deductors who did not deduct any tax during the relevant quarter. What is the benefit… Read more »
Procedure of preparing e-Returns for TDS / TCS
E-Returns for TDS / TCS was first introduced in 2002-03 and it has come a long way ever since. Currently, less than 1% are still on manually filed Returns. The… Read more »
Filing of TDS / TCS Return Online using Aadhaar
One can file TDS / TCS Returns (both Regular & Correction Statements) through the Income Tax e-Filing portal through Aadhaar authentication. Pre-requisites • TAN has to be registered at TRACES… Read more »
Challan ITNS 281- Important Points
Important points to note related to ITNS-281 are as follows: 1. Company Deductee/Non-Company Deductee – Although this appears in the Challan format, however it has lost its relevance as now… Read more »
Difference between Late Payment & Late Deduction
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 »
Preparing Salary TDS Return – Form 24Q (Q4)
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 »