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 »
Tag: TDSMAN
Interest on Late Deduction of TDS
The due date for deduction is either at the time of giving credit or payment of the dues, whichever is earlier. Late deduction happens in the event the tax is… Read more »
Interest on Late Payment of TDS
In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every… Read more »
TCS Return – Due Date 15th January for Quarter 3
15th January is the last date for filing TCS Returns for FY:19-20, Quarter 3. Typically TCS is applicable on sale of items like scrap, forest products, minerals, bullion, etc. and is… 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 »
What is the Interest for non-payment of tax as per demand notice?
Let us first understand the provisions of section 220(1) relating to payment of tax as per demand notice. Then we will understand the provision for levy of interest in case… Read more »