Include GST tax component for TDS calculation: IGST, CGST, SGST On theSetupFastTab, selectAdd. In theWithholding tax codefield, selectPOG. SelectDesigner, and then create a record. In theTax codefield, selectPOG. In theTaxable basisfield, selectGross amount. ...
TDS under section 194Q should be deducted on the total invoice value (Including GST) or taxable value excluding GST amount? CBDT must issue a clarification on this issue. However, Dynamics 365 F&O advance threshold feature provides an option to the user to include or exclude...
including sale of property.TDS on sale of property is applicable under Section 194-IA of the income tax law. However, buyers and sellers need not worry about TDS implications at all if the property value is up to Rs 50 lakh. On property deals involving more than Rs 50 lakh, TDS on pro...
Assessing Officer may impose penalty up to the amount of TDS if not deducted or remitted, in addition to interest and late fees. TDS Return Forms TDS forms depend on the income of the deductee or the type of deductee paying taxes. The TDS forms are mentioned below: ...
You can also double-click on the plus (+) sign to duplicate the formula. Following the month of May-21, do the same for other months. Compute the amount of TDS. We will use the SUM function. The SUM function is a built-in function, categories under the Math/Trig Function. This ...
Here is the detailed article on TDS & TCS under the GST law – a complete guide to understand the latest provisions & implementation of the same.
We received a demand after filing TDS returns on filing site for having short deducted and short paid tax against one of payment together with interest on short paid tax amount. We have paid the amount as demanded by the tax department. How do I add new payment in my previous return? Rep...
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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...
The invoices received from Apr 21 to Dec 21 has exceed amount INR 49000+GST. Requesting you to please highlight us whether TDS deduction is applicable on forthcoming invoices, if yes under which section TDS will be deducted. What is Standard of operation of deducting TDS....