{"id":14419,"date":"2020-08-06T15:37:28","date_gmt":"2020-08-06T10:07:28","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=14419"},"modified":"2021-03-17T16:16:53","modified_gmt":"2021-03-17T10:46:53","slug":"tds-deposit-and-tds-statement-filing","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/tds-deposit-and-tds-statement-filing\/","title":{"rendered":"DOs and Don\u2019ts for TDS deposit and TDS statement filing"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Tax Deducted at Source (TDS) is a mechanism introduced by the Income Tax Department of India. Under this, the answerable person is supposed to deduct a satisfied percent of tax before making the payment to the receiver. <\/p>\n\n\n\n<p><strong><em>The DOs and Don\u2019ts for TDS deposit and TDS statement filing are as follows-<\/em><\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"555\" height=\"313\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/08\/image-24.png\" alt=\"TDS deposit and TDS statement filing\" class=\"wp-image-14421\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/08\/image-24.png 555w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/08\/image-24-300x169.png 300w\" sizes=\"(max-width: 555px) 100vw, 555px\" \/><\/figure><\/div>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/tds-deposit-and-tds-statement-filing\/#DOs_for_TDS_deposit_and_TDS_statement_filing\" >DOs for TDS deposit and TDS statement filing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/tds-deposit-and-tds-statement-filing\/#Donts_for_TDS_deposit_and_TDS_statement_filing\" >Don\u2019ts for TDS deposit and TDS statement filing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/tds-deposit-and-tds-statement-filing\/#Extension_of_due_dates_for_TDSdeposit_and_TDS_statement_filing\" >Extension of due dates for TDSdeposit and TDS statement filing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/tds-deposit-and-tds-statement-filing\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DOs_for_TDS_deposit_and_TDS_statement_filing\"><\/span>DOs for TDS deposit and TDS statement filing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>TDS Deposit and <a href=\"https:\/\/corpbiz.io\/tds-return-filing\"><strong>TDS return filing<\/strong><\/a> before the due date to evade last moment and late payment of interest as well as late filing fee, correspondingly. The due date for filing Form 24Q for&nbsp; FY 2019-20 is 31st July 2020. <\/li><li>Double-check TAN and Annual year before depositing any challan.<\/li><li>Always keep a check on:-<\/li><\/ul>\n\n\n\n<ol><li>PAN\/AADHAAR of Deductee;<\/li><li>CIN\/ BIN in TDS statement;<\/li><li>Enter accurate receipt no. of TDS statement filed;<\/li><li>Quote accurate information in ANNEXURE II of FORM 24Q.<\/li><\/ol>\n\n\n\n<ul><li>Issue of TDS certificate to Deductee:-<\/li><\/ul>\n\n\n\n<ol><li>Download and produce FORM 16 from TRACES online portal;<\/li><li>FORM 16 (for Financial Year 2019-20) should be issued on or before 15th August 2020;<\/li><li>If any employee has had multiple employers during the financial year:-<\/li><\/ol>\n\n\n\n<p>(a). Every employer will issue a separate Part A of Form 16 for the period of employment.<\/p>\n\n\n\n<p>(b). The issue of Part B of Form 16 may be done by both employers or only the current one, as per the choice of employee.<\/p>\n\n\n\n<ul><li>Download latest quarterly TDS statement utilities (RPU &amp; FVU) from the TIN-NSDL website for the preparation of TDS statement<\/li><\/ul>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/tds-under-section-194n-of-income-tax-act-cash-withdrawal\/\">Latest guide on TDS under Section 194N of Income Tax Act: Cash Withdrawal<\/a><\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">DOs for avoiding demand creation and Facilitating demand closure<\/h3>\n\n\n\n<ul><li>Always verify challan details at the TRACES website before reporting the same in the TDS statement to avoid low payment demand due to challan mismatch.<\/li><li>If the application is present in 24Q and challan is paid against the same, the deductor must file correction in both&nbsp;<strong>Annexures-I<\/strong>&nbsp;and&nbsp;<strong>Annexure-II<\/strong>.<\/li><li>Always raise the correct flag in Deductee rows as per reason for higher\/lower\/no deduction of TDS.<\/li><li>Regularly check the demand reflecting on traces login and take necessary action for the closure of application.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">DOs while\nseeking help from TRACES<\/h3>\n\n\n\n<ul><li>For guidance, go through the e-tutorials and faqs published on the TRACES website.<\/li><li>Always mention complete query with the financial year, form type, and quarter details while creating tickets and mailing the grievance.<\/li><li>Always provide the contact number of the concerned person who is creating the card.<\/li><li> If the complaint is regarding the error in online correction\/digital signature, then please attach a complete error screenshot for further analysis. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Donts_for_TDS_deposit_and_TDS_statement_filing\"><\/span>Don\u2019ts for TDS deposit and TDS statement filing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Don\u2019t share the username or password of traces website with any unauthorized person.<\/li><li>Don\u2019t report pan details in TDS statement without getting a copy of PAN CARD<\/li><li>Don\u2019t round-off the TDS amount at the individual Deductee level, as the TDS CPC system does the rounding off at a statement level.<\/li><li>Don\u2019t report savings, deductions, and rebates without taking proof of the same from employees.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Extension_of_due_dates_for_TDSdeposit_and_TDS_statement_filing\"><\/span>Extension of due dates for TDSdeposit and TDS statement filing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  <strong>Nature <\/strong>\n  <\/td><td>\n  <strong>Original<\/strong>\n  <\/td><td>\n  <strong>New<\/strong>\n  <\/td><\/tr><tr><td>\n  <strong>Filing of TDS statement-<\/strong>\n  <\/td><td><\/td><td><\/td><\/tr><tr><td>\n  <strong>Form 24Q, 26Q, 27Q and 27EQ of Q4 of FY\n  2019-20<\/strong>\n  <\/td><td>\n  31<sup>st<\/sup> May 2020\n  <\/td><td>\n  31<sup>st<\/sup> July 2020\n  <\/td><\/tr><tr><td>\n  <strong>Form 24Q, 26Q, 27Q and 27EQ of Q1 and Q2 of\n  FY 2020-21<\/strong>\n  <\/td><td>\n  As per Rule 31A\/31AA\n  <\/td><td>\n  31<sup>st<\/sup> March 2021\n  <\/td><\/tr><tr><td>\n  <strong>Form 26QB, QC and 26QD of February 2020<\/strong>\n  <\/td><td>\n  30th March 2020\n  <\/td><td>\n  31<sup>st<\/sup> July 2020\n  <\/td><\/tr><tr><td>\n  <strong>Form 26QB, QC and 26QD of March 2020<\/strong>\n  <\/td><td>\n  30<sup>th<\/sup> April 2020\n  <\/td><td>\n  31<sup>st<\/sup> July 2020\n  <\/td><\/tr><tr><td>\n  <strong>Form 26QB, QC and 26QD of April-Nov 2020<\/strong>\n  <\/td><td>\n  30 days from end of the month which tax will be\n  deducted\n  <\/td><td>\n  31<sup>st<\/sup> March 2021\n  <\/td><\/tr><tr><td>\n  <strong>ISSUE OF TDS\/TCS CERTIFICATES:<\/strong>\n  <\/td><td><\/td><td><\/td><\/tr><tr><td>\n  <strong>Form 16 for TDS on salary during FY 2019-20<\/strong>\n  <\/td><td>\n  15<sup>th<\/sup> June 2020\n  <\/td><td>\n  15<sup>th<\/sup> August 2020\n  <\/td><\/tr><tr><td>\n  <strong>Form 16A for TDS on income other than\n  salary for Q4 of FY 2019-20<\/strong>\n  <\/td><td>\n  15<sup>th<\/sup> June 2020\n  <\/td><td>\n  15<sup>th<\/sup> August 2020\n  <\/td><\/tr><tr><td>\n  <strong>TCS certificate for Q4 of FY 2019-20<\/strong>\n  <\/td><td>\n  30<sup>th<\/sup> May 2020\n  <\/td><td>\n  15<sup>th<\/sup> August 2020\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Each and every person who is accountable for making payment of nature enclosed under the <strong><em>TDS provisions of Income Tax Act, 1961<\/em><\/strong><sup><a href=\"https:\/\/taxguru.in\/income-tax\/tds-provisions-income-tax-act-1961.html\"><strong><em>[1]<\/em><\/strong><\/a><\/sup> shall be responsible for TDS. In case you have any queries, contact <a href=\"https:\/\/corpbiz.io\/\"><strong>Corpbiz<\/strong><\/a>.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-file-tds-return-online\/\">How to File TDS Return Online<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tax Deducted at Source (TDS) is a mechanism introduced by the Income Tax Department of India. Under this, the answerable person is supposed to deduct a satisfied percent of tax before making the payment to the receiver. The DOs and Don\u2019ts for TDS deposit and TDS statement filing are as follows- DOs for TDS deposit [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":14422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[153,237],"tags":[847],"acf":{"service_id":"90"},"authorName":"Sakshi Srivastava","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/03\/IMG-20180130-WA0007.jpg","authorDescription":"Sakshi has pursued B.B.A.LL.B.(IPR Hons.). She is an avid reader and is keen to gather and share her knowledge on the subjects relating to IPR, Company Law and GST. Priorly she has worked as a legal researcher and vide her articles she aims at improving the core knowledge of the subjects to the masses.","postViews":3930,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/14419"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=14419"}],"version-history":[{"count":8,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/14419\/revisions"}],"predecessor-version":[{"id":27646,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/14419\/revisions\/27646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/14422"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=14419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=14419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=14419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}