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Help Require

ravi (account) (1184 Points)

25 January 2011

Dear All,

Till now all of you have solved each and every problem of mine. I am really highly obliged for that.

Now once again I have required help from all of yours side.

Please let me know each and every step in detail for monthly and Quarterly TDS submission.

I will be grateful to all of you for life time.

Thanks

Ravi Kant

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3 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 25 January 2011

1 Its very important to recognized type of payment under tds sections and their threshold limit to deduct tds 2 if payment cross threshold limit with their section than you need to deduct tds. 3 for salary minimum no. of pan employee should be 95 % and for others 85 % 4 tds should be deduct at the time of payment or at the time of credit whichever is earlier. 5 for salary 24Q Stament and for others form 26Q 6 Firm , Company, Huf , etc can deduct tds 7 but individual can deduct tds only when tax audit is applicable 8 Tds should be deposit upto 7th of every month but in month of march you can deposit upto 7th June 9 Tds Statement should be submitted after 15 days of each quarter and in case of 4th quarter statement should be submit before 15th June. 10 without PAN Deduct tds 20 % 11 if transporter have pan no need to deduct tds but the detail should be given in tds statement and mark "T" in column reason for non-deduction tax