TDS / TCS Compliances – Due date for FY:20-21 Q3
The due date for TDS/TCS payment for deductions/collections during Dec 2020, is 7’th Jan 2021 The due date to file TDS Returns for quarter 3 FY: 20-21 (Oct 2020 to Dec… Read more »
Tag: TDS Payment
Points to remember regarding TDS statement
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
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 »
Difference between Late Payment & Late Deduction
The difference between late payment and late deduction: Late payment: After the tax is deducted at source it has to be deposited into the government account by 7th of the… Read more »
Tips to avoid Defaults in TDS Returns
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 »