Due dates for filing of Statement and Challan
The due dates for filing statements for different forms are as per the below table: Quarter Period Government Deductor Non-Government Deductor Q1 1 Apr-30 June 31st July 15th July Q2… Read more »
Tag: tax deducted at source
Changes in TDS Rate in Budget 2016
In Budget 2016, FM announced an overhaul of Indias tax deducted at sources (TDS) system. Government hasreduced the rates of Tax Deducted at Source (TDS) on several deductions with a view… Read more »
TDS Rates to come down to better cash flow of Small Taxpayers
Government has reduced the rates of Tax Deducted at Source (TDS) on several deductions with a view to improve cash flow, especially of small tax payer. According to the Budget… Read more »
Budget 2016: Lower TDS for life insurance proceeds
The rate of tax deducted at source (TDS) on life insurance policies where maturity proceeds are taxable has been halved from 2% to 1%. Under section 194DA, TDS is applicable… Read more »
Expedite TDS mismatch cases to reduce taxpayers grievances: CBDT to I-T dept
The order has asked Assessing Officers of each region to take “immediate steps” and reduce the grievance of taxpayers. CBDT has instructed the Income Tax department to expedite cases of… Read more »
Consequences for a deductor if he fails to deduct TDS or fails to deposit it to the Government’s account
A deductor would face the following consequences if he fails to deduct TDS or after deducting the same fails to deposit it to the credit of Central Governments account:- a)… Read more »