Tax deductors who default in depositing TDS by due date shall be liable for prosecution: CBDT Central Board of Direct Taxes (CBDT) issued a press release in which CBDT said… Read more »
TDS Payment is liable to be made by any assesse who has deducted TDS at the time of incurring any expenditure. The Due Date for TDS Payment is separate for… Read more »
To generate the excel sheet from the Justification report downloaded from TRACES, follow the steps given below: 1. To generate the justification report excel sheet, download the TRACES-Justification-Report-Generation-Utility-V1.0 from the… Read more »
This year Income Tax e filing portal has provided a new facilities of “Pre-filled XML data in offline Excel utility”on their website. The process of using the Pre-filled XML data… Read more »
Fees and Penalty for Late Filing of TDS Returns are as follows: Section 234E – Levy of Fees Failure to submit TDS return on time will result in fees on the… Read more »
Failure to issue TDS certificate within the time allowed, attracts penalty of Rs. 100/- per day of default (Sec 272A(2)(g)). However, penalty will not exceed the amount of tax deductible… Read more »
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