Archive | ClearTDS

Form 26QB

Received notice from the income tax department for non-filing of Form 26QB

Some of the taxpayers have received an income tax notice for non-filing of Form 26QB.   Why have you received the income tax notice? The income tax department has received Annual Information Return (AIR) submitted by registrar/sub-registrar, that you have done a property transaction exceeding Rs 50lakhs. Buyers of property must deduct TDS from payment […]

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How to make corrections to TDS returns

Where there is tax filing of any sort, there will be errors of many types. Some will be human errors, some will be computing errors, some will be information updates. And the more the inputs to be made, the more chances of errors that can happen. This is something that companies that file their TDS […]

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Can TDS be deducted at a lower rate or not at all?

The income tax act has defined the rates at which TDS has to be deducted. These rates may vary based on whether the deductee is a resident/non-resident, domestic company or a foreign company.  You can have a look at the rates here. However, in some circumstances deductee may request for TDS deduction at a lower rate. […]

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