By definition, a challan is an official document that acknowledges a payment. In taxation parlance, challans are documents that are proof of a deposit with the Government, The Income Tax Act 1961 mandates businesses to deduct TDS before an income payment to an individual or entity. ...
And If the payment has been made in instalments then the TDS is proportionately deducted from each individual instalment The buyer doesn’t need to obtain the Tax Deduction Account Number (TAN) for deducting and depositing TDS. Nevertheless, the PAN is the mandatory requirement for both the buye...
On the Payment fee tab, in the Fee ID field, select a fee ID that has a fee type of Interest or Others to charge the payment fee for delayed payments that are made to the TDS authority vendor. On the Tax information tab, in the Company information...
Further, non payment of Tax is a criminal offence and the individual is liable to be penalized & punished under the court of law. Moreover, Interest will get added to your tax liability till the date of payment of tax. When one needs to pay tax , Advance Tax, Self Assessment or Regula...
How much time it takes for paytm to transfer money into bank from wallet? How much time does it take in India to get the income tax refund after having e-verified? What amount is charged by the SBI Bank if a cheque bounces? How can I check the status of cheque deposited in sb...