TDS on Contracts under section 194C of Income Tax Act, 1961 Q.1 Who is responsible to deduct tax u/s 194C? A.1. Any person responsible for paying any sum to any resident contractor for carrying out any work (including supply of labour for carrying out any work) under a contract in pursuance of a contract between contractor […]
Tag Archives: Tds Deduction
Employees responsibility regarding TDS on Salary However The Income-Tax Act lay all responsibility on the employer for tax deduction at source at the time of payment of salary to employees whose salary income is above the maximum amount not chargeable to tax. The employer is required to deduct TDS on salary according to the provisions […]
Are You Taking TDS Lightly ? In this post I want to discuss some provisions which make it clear that we should not take TDS lightly and we should take extra care about payment of TDS and filing of TDS Returns,because it makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, […]
Duty of Person deducting TDS If Found Short Payment or Mismatch of Challan Since a many days CPC (TDS) sending notices to deductors. One of the reason for the same is Short Payment of TDS and other one is wrong Permanent Account Number. In view of the close of the month approaching fast, you are […]
Section 234E of Income Tax Act, 1961 This month we received lot of demands from CPC seeking demand for non remittance of 234E FEES (not Tax).Section 234E will not apply to cases where TDS payment is made beyond the time limit prescribed for payment of TDS u/s 200(3) There are two reasons