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… Read more »
Tag: TDS defaults
CPC(TDS) Advisory for Deposit of Tax deducted and Demand for TDS Defaults with respect to Purchase of Immovable Property
CPC(TDS) has issued an advisory for deposit of tax deducted and demand for TDS defaults with respect to purchase of immovable property (26QB Statement-cum-challan). The issued advisory has been given below:… Read more »
Points to remember before filing the quarterly TDS statement
Given below are the points one should remember before filing quarterly TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to… Read more »
Guidelines to avoid different types of TDS defaults
Following are some important facts to be adhered to, while submitting TDS statements, to avoid each type of Default: Late Payment Defaults: The taxes deducted must be deposited within the… Read more »
Check Defaults of all previous returns at a glance
TDSMAN software now enables deductors to check defaults across all previous returns at a glance through its View Default Summary module. WATCH VIDEO PRESENTATION Now don’t wait for department’s notice,… Read more »
Healthy Practices for Error-Free TDS Returns
Healthy practices for error-free TDS returns has been given below: Deduction/ Collection of Tax at Correct Rates. Timely Deposit of Tax Deducted at Source. Accurate Reporting of data related to… Read more »