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CBDT Income Tax PAN TAN TCS TDS TDS Circulars TIN NSDL Traces

Consequences of TDS defaults

Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit) : Default/ Failure Section Nature of Demand Quantum of demand or penalty Failure to deduct tax at source 201(1) Tax demand Equal to tax amount deductible but not deducted 201(1A) Interest @1 % p.m. of tax deductible 271C Penalty […]

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NSDL TAN TDS TDS return TDSMAN Software TIN NSDL Traces

TDSMAN updated with FVU ver. 6.6 & FVU ver. 2.162

TDSMAN has been updated for the following newly released File Validation Utilities: FVU ver. 6.6 – For statement pertaining to FY 2010-11 onwards FVU ver. 2.162 – For statement up to FY 2009-10 To update TDSMAN – Click on: Utilities – Update Software Click here to view the key features of FVU version 6.6 & FVU 2.162

Categories
CBDT Income Tax PAN TAN TCS TDS TDS Circulars TIN NSDL Traces

Consequences of TDS defaults

Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit) : Default/ Failure Section Nature of Demand Quantum of demand or penalty Failure to deduct tax at source 201(1) Tax demand Equal to tax amount deductible but not deducted 201(1A) Interest @1 % p.m. of tax deductible 271C Penalty […]

Categories
CBDT Income Tax NSDL PAN TAN TCS TDS TIN NSDL Traces

Payment of taxes – Do’s & Dont’s

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 280 For depositing Advance tax, Self Assessment tax, Tax on Regular Assessment, Surtax, Tax on Distributed Profits of Domestic Company and Tax on Distributed income […]