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… Read more »
One can avoid defaults in the TDS statements, by way of adherence to the following basic principles: Timely Payment of total taxes deducted/ collected Correct Reporting with regard to… Read more »
The TDS and TCS rates chart for the financial year 2015-16 has been given below: TDS rates for F.Y. 2015-16 Nature of Payment Made To Residents Cutoff (Rs.) Company / Firm… Read more »
Several amendments have been proposed in the sections dealing with the deduction of tax at source. 1. Requirement for obtaining evidence/ particulars by employer for TDS-Section 192 1.1 Currently, the… Read more »
When an employee participating in a Recognised Provident Fund (RPF) withdraws the accumulated balance lying to her/his credit in the said RPF account, that amount is not included in her/his… Read more »
CPC (TDS) has issued a reminder communication to Banks regarding closure of short payment defaults in Quarterly TDS Statements. The issued communication has been given below: Please refer to the… Read more »
