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 »
Make sure taxes are deducted on time and at correct deduction rates /amount. The applicable section under which the deduction falls should be correctly applied. Tax needs to be deducted… Read more »
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 »
Following are some useful guidelines to avoid common mistakes, while submitting TDS Statements and you are requested to go through the following in detail. Incorrect reporting of 197 Certificates: Please… Read more »
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… Read more »
Given below are some do’s and don’ts for filing of TDS returns: Do’s Ensure that TDS return is filed with the same TAN against which TDS payment has been made…. Read more »