What is conso file? How do I download conso file to make corrections?

What is a conso file ? How do I download conso file ? A conso file is a consolidated data of the statements that are processed ( regular and correction ) for the relevant financial year , quarter and the form type. The following article will give a detailed idea about a conso file and  how to dowanload a conso [...]

By | January 10th, 2017|Categories: TDS|Tags: , |0 Comments

Is TDS to be deducted on the Amount of Service Tax?

According to the Indian Tax Laws , the receiver of service is required to do two things at the time of making any payment : Pay Service Tax on the services received Deduct the TDS on the payment made But a confusion always arises as to whether TDS on service tax is liable to be deducted or the TDS on [...]

By | January 10th, 2017|Categories: TDS|Tags: |0 Comments

Why is it Important to Collect TDS Certificates?

The income-tax act provides for collection and recovery of income-tax in multiple ways, the deduction of tax at source in respect of income by way of salaries, interest on securities, interest other than interest on securities, winnings from lotteries and crossword puzzles, winning from horse-race, insurance commission, dividends, payment to contractors or subcontractors and payments to non-resident, being one mode [...]

By | January 5th, 2017|Categories: Uncategorized|0 Comments

What is the due date to file TDS return?

Due date for TDS payment and what is the interest liabilities on late payment One of the modes of collecting income tax at source of income under the income tax act , 1961 is TDS and the very basic reason behind this are, “ pay as you earn “ and “ collect as it earned  “. The concept of TDS [...]

By | January 4th, 2017|Categories: Uncategorized|0 Comments

What are the common TDS provisions?

One of the modes of collecting income tax at source of income under the income tax act, 1961 is TDS and the basic concept behind it is, “pay as you earn“ and “collect as it earned”. An assesse who has deducted the TDS at the time of incurring any expenditure is liable to make TDS payment. The due dates for [...]

By | January 4th, 2017|Categories: Uncategorized|0 Comments

What is Tax collection at sources ? When is it applicable? What is the rate of TCS?

Tax collection at source is a type of tax that is payable by the seller who collects in turn from the lessee or buyer. Section 206C of the income tax act, 1961 specifies the goods on which TCS is applied. For example: if the purchase value of the box of chocolates is Rs 100 , the buyer ultimately pays Rs [...]

By | January 4th, 2017|Categories: Uncategorized|0 Comments