Table of Contents
What is the time limit for depositing TDS?
The due date for the TDS deposit for March is 30th April of next Financial year. However, the due date for a Government Office is 7th March….Time Limit to Deposit Tax Deducted at Source.
| Sr. No. | Month of TDS Deduction (considered for deduction) | Due Date of TDS deposit with Challan |
|---|---|---|
| 1 | April | 7th May |
What is q1 Q2 Q3/Q4 in TDS?
July to September (Q2) October 15. October to December (Q3) January 15. January to March (Q4)
Is TDS payment date extended?
CBDT extend dates for filing TDS, tax returns The last date for filing belated tax returns for the financial year 2021 has been extended till 31 May 2021. The date for payment of amount under Direct Tax Vivad se Vishwas Act 2020 without any additional amount has also been extended till 30th June 2021.
Who is a Deductor in TDS?
The company or person that makes the payment after deducting TDS is called a deductor and the company or person receiving the payment is called the deducted. It is the deductor’s responsibility to deduct TDS before making the payment and deposit the same with the government.
Which key is used to enable TDS?
Press F12 . Set Enable surcharge and cess details for TDS to Yes .
Does TDs credit need to be given to the deductee?
High Court of Gujarat in case of Devarsh Pravinbhai Patel v/s Asst Commissioner Of Income Tax vide order dated 24th September 2018 has held that TDS credit needs to be given by Income-tax authorities to the deductee even if TDS is not deposited by the deductor.
Can payee claim TDs while filing income tax return?
Payee cannot take a tax credit of the TDS while filing income tax return. If payee takes the tax credit for this amount, they will receive a notice from the income tax department for the mismatch in the TDS claimed and taxes paid.
What to do if your employer does not deposit the TDs?
It is advisable that an individual checks his Form 26AS after 10 days of the expiry of the due date. Thus, before an individual approaches the tax department to complaint about his employer not depositing the deducted TDS, it is important that he brings this mismatch to his employer’s notice and request the employer to correct the same.
How to file a grievance against an employer for TDs deduction?
To support your grievance, you must also attach the following proofs: 1. Salary slip showing deduction of TDS; 2. Copy of Form 26AS not reflecting the deposit of TDS; 3. Copy of letter written to your employer pointing out the discrepancy; 4. Form 16, if available.