Entities (Both Corporate And Non-Corporate Deductors) Making Payments (Specified Under Income Tax Act) To Third Parties (Deductees) Are Required To Deduct Tax At Source (Tax Deducted At Source -TDS) From These Payments And An Individual Or A Hindu Undivided Family Whose Total Sale, Gross Receipts Or Turnover From Business Or Profession Carried On By Him Exceeds The Monetary Limits Under Clause (A) Or (B) Of Sec.44AB During The Preceding Financial Year Shall Also Be Liable To Deduct Tax U/S.194A,194C,194H, 194I & 194J. All Persons Deducting Or Collecting Tax At Source Are Required To Apply For And Obtain A Tax Deduction/Collection Account Number (TAN)And Quarterly Return Will Be Filed.
Non-Payment Leads To Interest@ 1.50% P.M. Or 18% P.A. From The Date On Which Tax Is Deducted To The Date Of Its Payment. Failure To File Quarterly TDS Returns In Time Late Fee @ Rs. 200/- Per Day Maximum Of TDS Amount) Section 234E.
CA DK Agarwal Thus Provides Top-Tier And Deadline-Oriented TDS Return Filing In India. You Can Reach Out To Us For Your Needs And We Will Comply By Filing Your TDS Returns.
