• e-TDS/TCS RPU (Version 4.1)

    Length of field “Certificate number issued by the Assessing Officer u/s 197 for non-deduction/lower deduction” under…

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  • e-TDS/TCS – FVU version 2.140

    Value in field “Amount paid/ Credited” to the deductee in case of Form no. 24Q should be less than or equal to…

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  • AIN details in TDS Statements

    As per the records of the Centralized Processing Cell (TDS), it has been observed that the Accounts Office Identification Number (AIN) has not been mentioned…

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  • TDS Demand – Consequences of Failure to Pay

    In accordance with provisions of section 201(1) of the Act, where any person, including the principal officer of a company, who is required to deduct any sum in accordance…

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  • Credit Card Transactions – TDS Applicable on Service Fees

    Whether merchants are required to deduct tax at source u/s 194h on service fees retained by bank on
    credit card transactions

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  • Issues in TDS deduction

    Even though many of us are familiar with tax filing, the process of TDS deduction is still confusing for many. When and where TDS is applicable, what is the section under which it is to be deducted…

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  • TDS Returns & Due Dates

    Following are the returns for TDS and TCS and their periodicity: 1. Time of deduction, 2. Time of Deposit, 3. Quarterly TDS statements and due dates.

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  • TDS Rate Chart for Financial Year 2012-13 and Proposals In Budget, 2013

    The table below describes the rates applicable for each section with the threshold limit as well as the person responsible to deduct tax while crediting or making payments to the parties.

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  • TDS Rate Chart for Financial Year 2013-14

    The table below describes the rates applicable for each section with the threshold limit as well as the person responsible for deducting tax while crediting or making payments to the parties.

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  • TDS 194C

    This section was introduced in the year 1972 and subsequently amended from time to time. The scope of the said provision has been explained by CBDT from time to time through various circulars bearing…

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  • TCS Provisions, rates and Consequences

    TCS or Tax collection at source arises on the part of the seller of goods. Here, tax is collected at the source of income itself.

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  • Non deduction of TDS

    Apart from consequences like Interest, penalty and prosecution for Non Deduction or Non payment of TDS after deduction, there is another consequence for assessees getting profits and gains from…

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  • About Advance Tax

    As we all know that the tax liability of a person should be paid in the self-assessment u/s 140A, but if the tax payable is Rs. 10,000 or more, then the tax is paid in the previous year itself. In…

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