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The TRACES website provides a convenient solution for taxpayers and deductees to address their concerns and complaints. Through the “Request for Resolution” module available on the TRACES website, users can raise and track their grievances effectively. This guide will explain the process of submitting and monitoring tax-related complaints on the TRACES website. How to File […]
Form 26QB has significant importance in the process of deducting tax at source (TDS) for property sales. However, occasional errors and mistakes may occur during submission of this form. If you come across any inaccuracies in your Form 26QB, there’s no need to worry as you can rectify them. This article has been written to […]
A procedure, format, and standards for filling an application for grant of certificate under sub-rule (4) and its proviso of Rule 28AA of Income Tax Rules, 1962 (“the IT Rules”), for deduction of Income-tax at any lower rate or no deduction of Income-tax under sub-section (I) of section 197 of the Income-tax Act, 1961 (“the […]
Every individual who comes under the income chargeable to tax is needed to furnish the ITR to declare their income along with the tax liabilities. But the income tax laws in India issue the collection or deduction of the tax at source (TDS/TCS) itself. The same gives the assurity about the regular flow of the […]
If Assessee has uploaded TDS return Check out the details of the TDS/TCS return e-filing in AY 2020-21 (FY 2019-20). Also, we mention quarterly and annual TDS/TCS return due dates by a simple table format but there occur some mistakes while furnishing the TDS statement PAN is wrongly mentioned, short deduction of TDS amount, excess […]
The Central Board of Direct Taxes (CBDT) has furnished relief to the assesses who obtained the tax demand notices for the reason that they deducted less TDS compared to the taxpayers whose PAN had become inoperative. Multiple TDS deductors and collectors, TCS respectively, had obtained the income tax demand notices requesting them to deposit the […]
Non-resident Indians (NRIs) need to get a Tax Deduction at Source (TDS) certificate in order to avoid having taxes deducted on income generated in India. NRIs cannot utilize Form 15G/H to excuse themselves from TDS on their income as residents may. Instead, they must submit an application to the assessing officer to get a certificate […]
The purpose of this post is to explain the process of Sections 206AB and 206CCA filing under income tax using Gen TDS Software. The income tax act inserts section 206AB after section 206AA. The latter requires the provision of a Permanent Account Number (PAN) to deduct TDS. In the Income Tax Act, section 206CCA for […]
Simple to Understand TDS Interest You would be required to file the interest Under Section 201(1A), in case of a late deposit of TDS after deduction. A 1.5% per month interest would be computed from the date on which the TDS was deducted to the actual date of deposit. The same would be computed on […]
