TDS – Quarter 3 Compliances and penal provisions
TDS (Tax Deducted at Source) is one of the modes of collecting income tax from the assessees in India. This is governed under Indian Income Tax Act, 1961, by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service (IRS), Ministry of Finance, Govt. of India.
In simple terms, TDS is the amount of tax getting deducted from the person (Employee / Deductee) by the person paying (Employer/Deductor).
It is very important to file TDS returns on time because late filing can result in paying late filing fees according to Section 234E
Mandatory Fees and Penal provisions
Therefore, file your TDS returns properly and on time to avoid penalty for late filing of TDS returns.
TDS/TCS Compliances for 3rd Quarter of F.Y. 2012-13
- · Last date for payment of tax deductions/collections for December 2012 - 7th January, 2013
- · Last date of filing of TDS/TCS returns for Q3 of F.Y. 2012-13 - 15th January, 2013
- · Last date for issuance of the TDS/TCS certificates for Q3 - 30th January, 2013
It is recommended to use TDSMAN software for filing TDS and TCS returns as per TIN Nsdl format. This TDS software enables eTDS & eTCS return generation of all types of forms - 24Q, 26Q, 27Q, 27EQ & also prints TDS certificate - form 16, form 16A.
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Moreover, it has been rated no.1 as per NSDL data as acceptance of Correction Returns.
Some of its features are:
· Supports unlimited deductors / companies, deductees, employees
· Preparation of eTDS & eTCS returns for Forms 24Q, 26Q, 27Q, 27EQ
· Auto-generation of Form 16, 16A, 27A, 27B, 27D
· Printing of TDS, TCS certificates - 16, 16A, 27D
· Interface for online requests to TIN
· In-built utility for Import / Export of data from MS-Excel
· Option of importing / retrieving data from Consolidated files
· Data backup and restore facility
· integrated File Validation Utility (FVU)
· Generation & printing of various types of customized utility reports
· Report generation in PDF formats
· Online updates
· Challan verification
Use the TDSMAN Software (FY: 2012-13) for easy filing of your fourth quarter eTDS / eTCS returns. TDSMAN (FY: 2012-13) is priced at Rs. 2500/- only and covers the financial year 2012-13 and all earlier years till 2005-06. During the course of the year, all statutory updates & changes in the software will be provided to you for free.
Purchase Link: Buy TDSMAN for Rs. 2250/- only
- Download Free Trial of TDSMAN
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Due Dates For ETDS returns (Form 24Q for salary and 26Q for contractors others ,27Q for Non-resident
Due date ETDS return 24Q, 26Q 27Q and Form16 ,Form 16A
From 01.11.2011 on wards For Govt offices
For other deductors
31st July ,2012
15th August ,2012
15th May ,2013
30th May ,2013 (31st May for form 16)
30th May,2013 (31st May for form 16)