If you are unable to submit these forms, you can still claim a TDS refund at the time of filing your year-end tax returns. There are also some ways to save on tax on FDs. A post office FD is one way as it does not attract any TDS deduction. You can divide the amount and put ...
To duplicate the formula over the range or Auto-Fill the range, drag the Fill Handle icon down ordouble-clickon the plus (+) symbol. See that the result of the TDS amount will show in columnG. Calculate the total of individual TDS statements as well as the total TDS amount. So, firs...
Refund status can be tracked after 10 days from the claim submission and once the process gets completed by the officer, you will be notified by a message. You need to access the NSDL-TIN website or official IT website to track your refund status. In there, click on “Status of Tax ...
In the case of Non-deduction of TDS The Penalty of 1% interest on the amount not deducted for the TDS In case of Non-remittance of the TDS to the government The Penalty of 1.5% of the total deducted amount that is calculated per month Delay in the TDS returns Filing The Penalty of a...
Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax Form GST MIS-1 Monthly — Communication of acceptance, discrepancy or duplication of input tax credit claim ...
Statutory compliance:At the time of processing all statutory deductions like EPF (Employee Provident Fund), TDS (Tax Deduction at Source), and ESI (Employee State Insurance) are deducted. The payroll administrator then sends the amount to the appropriate government agencies. ...
You shall be able to check whether the deductor has filled the TDS statement correctly or if the collector of tax has precisely filled the details of the Tax Collected at Source(TCS) You can verify whether the tax deducted and collected on behalf of you has been deposited in the government...
10. TDS and Advance Tax Salaried individuals witness Tax Deducted at Source (TDS) deductions monthly. This TDS aligns with your final tax liability. If it surpasses Rs. 10,000 for the fiscal year, Advance Tax payments may become necessary. ...
TDS will be deducted on the basis of the deductee type, which has to be defined in the party ledger.Gateway of Tally > Create > type or select Ledger > and press Enter. Alternatively, press Alt+G (Go To) > Create Master > Ledger > and press Enter. Press F12 (Configure) and set ...
You mustclaim Advance Taxwhilefiling Income Tax Return ITR Who has to pay Advance Tax? The provisions of the Income Tax Act make it obligatory for every individual, self-employed professional, businessman, and corporate to pay Advance Tax, on any income on which TDS(Tax Deducted at Source)...