Due Date of TDS Payment and Return For AY 2022-23
If the return is not filed in time, then as per section 234E the deductor will have to pay the late fee of Rs. 200 per day
A New Route of Tax Knowledge
If the return is not filed in time, then as per section 234E the deductor will have to pay the late fee of Rs. 200 per day
To calculate the current value of long-term capital assets, the indexation benefits are applied to “Cost of acquisition” i.e purchase price of the capital assets, then it becomes “Indexed cost of acquisition”.
Section 80G of the Income Tax Act provides benefits for both donor and donee.
Form no. 16A is also a TDS certificate, it is applicable for TDS on income other than salary.
Form 16 is a salary TDS certificate, which is issued to a salaried employee, whose salary is liable for TDS deduction every year.
Form 26Q is a quarterly statement of deduction of tax under section 200 (3) of the Act. This form is filed in respect of non-salary payments e.g. TDS on interest, TDS on contract, TDS on professional fees, etc.
When an employer pays salary to an employee, the employer is required to deduct TDS u/s 192. The employer has to file a salary TDS return in form 24Q, which needs to be submitted on a quarterly basis.
If the return is not filed in time, then as per section 234E the deductor will have to pay the late fee of Rs. 200 per day