TDS

LATE FILING FEES AND PENALTY FOR FAILURE TO FURNISH/DELAY IN FURNISHING THE TDS/TCS STATEMENTS

Income Tax Alert: Filing TDS return for FY 2022-23?

Today 31/01/2023 Due Date to file the TDS Statement for Quarter-3 of FY 2022-23 From tomorrow late filing fee u/s 234E Rs.200 per day is applicable (Late fee shall not exceed the amount of TDS) Usually, if the income earned by you exceeds a specified limit, then tax is deducted by the payer of the …

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Tax assistant siphons off Rs 263 cr on fake TDS deduction with seniors’ login credentials

An Enforcement Directorate investigation has found that a mid-level income tax employee was able to access the computers of his superiors and create phoney tax deducted at source (TDS) refunds totaling millions of dollars. In the money laundering investigation, the CBI has attached more than 30 properties in Maharashtra and Karnataka, totaling almost Rs 70 crore. It …

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Rationalised TDS framework, revamped IT regime expected in Budget from Centre

Government is expected provide a more rationalised TDS framework to reduce the compliance burden for taxpayers, besides a revamped new concessional tax regime by providing additional benefits like standard deduction, EY said on Sunday. The Budget wishlist of EY also highlights that the government should provide some respite to low- and mid-income taxpayers with annual income up …

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