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 ...
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...
You can claim a deduction of upto Rs 1.5 lakh for investment in Equity Linked Savings Scheme and save tax upto Rs 46,800. As it comes with a lock-in period of 3 years, you can not redeem it before 3 years. Hence, when you redeem your ELSS funds, you must pay long-term capital ...
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...
can show that you are staying on rent in parent’s house to claim HRA exemption. Otherwise, if you are staying in a rented house as your workplace is far from your owned house then also you can claimHRA exemption. In this case, you can also claim home loan interest deductions as well...
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. ...
Form GST MIS-1 Monthly — Communication of acceptance, discrepancy or duplication of input tax credit claim Form GSTR-3A — 15 Days from Default Notice to a registered taxable person who fails to furnish returns Form GSTR-9 Annually 31st Dec of next fiscal Annual Return – fu...
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)...
consultants, and vendors (known as “Tax Deducted at Source” or TDS) on the same date each month. She also sets recurring due dates to remind herself of expenses on products sold or services provided (known as GST) that she needs to report monthly to her accountant who calculates the tax...
Understanding TDS on Advocate Fees: Regulations, Exemptions, and Refunds May 11, 2023 Form 61B: Applicability and Key Points for Taxpayers in India May 11, 2023 Everything You Need to Know About Form 10A of the Income... May 11, 2023 ...