Tag: TDS defaults

Sections under which interest for various delays/ defaults need to be paid

The sections under which interest for various delays/ defaults need to be paid are as follows: Section 234A for delay in filing the return of income Section 234B for default… 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 »

Points to remember regarding TDS statement

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Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report… Read more »

Healthy Practices for Error-Free TDS Returns

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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 »

Statutory provisions attracted on failure to deposit tax in government account after deduction

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 »