It acts as a summary of TDS return filing or TCS returns that are containing the totals of amount that’s paid and the income tax that’s deducted at source. TDS Credit certificate The deductor of TDS issues a Form to the deductee which is called a TDS certificate. It shows the ...
Form 27EQ refers to the quarterly statement of TCS that reflects the details of the TDS u/s 206C of the Income Tax Act of 1961. It can also be called as the statement that furnishes the Tax Collected at Source (TCS). TCS is the tax collected by the seller. When a purchaser purcha...
Complete TDS / TCS related latest resources and information. It covers Forms - 24Q, 26Q, 27Q, 27EQ, TDS & TCS certificates - Form 16, 16A, 27D
New revise TDS/TCS due date for filing Return and Payment for the year 2020 key features of TCS on goods sale section-206c New TDS deduction No cash transactions exceeding 1 Crore -Section 194N Extention of TDS/TCS statement filing Date TDS payment to resident contractors Consequences of not...
Q. What are the due dates for TDS return filing? The due dates for Form 24Q, 26Q and 27Q is the Last date of the neaxt month after every quarter end. However, the due date for Form 27EQ (for TCS) is 15th the next month after every quarter end. ...
Type of payment – TDS/TCS by a taxpayer or TDS/TCS by regular assessment The nature of payment The mode of payment – net banking or debit card TAN numberand assessment year Address, email ID and contact number 5. Then enter the captcha code>> click on ‘Proceed’ ...
Cancellation of Regular TDS/TCS can be done only if the TAN of the deductor is being revised. When you cancel the regular statement with an incorrect TAN, it is necessary to file a new regular TDS/TCS statement with the correct TAN. Recommended: Due Dates for E-Filing of TDS and TCS ...
The TDS/TCS return is filed before the expiry of a period of ONE year from the due date specified in this behalf. 8) Penalty for Delay in Issue Of TDS Certificate U/S 272A The Certificate u/s 203 shall be furnished within due dates as specified in Rule 31 Any delay in furnishing th...
Tax Collected Account Number or Tax Deduction Account Number is an alphanumeric 10-digit number issued by the IT department to the individual who is responsible for deducting TDS or who is required to collect TCS. Q. Can I use PAN for TDS payment? No, you cannot use PAN for TDS payment...
3065925 - IN: - Section 206AB and section 206CCA and TDS/TCS effective from July 1st, 2021 3062073 - IN: New section 194Q introduced in Budget 2021-22 Tax Deducted at Source (TDS) It is to be noted that FICA deals with sales transactions. TDS under Section 194Q is not expected to...