CBDT extends the deadline for filing TDS for non-salary transactions till Nov 30

CBDT extends the deadline for filing TDS for non-salary transactions till Nov 30

• Karma
• October 29 10:42:56, 2022

CBDT extends the deadline for filing TDS for non-salary transactions till Nov 30

  Contents News/Article Date:   27^th October  2022 Relating to which Act:    Income Tax Act 1961 Type:    Central Board of Direct Taxes (CBDT) announcement Pertains to    All such companies to whom it is applicable                 Relevance of this news:  Karma Management Global Consulting Solutions Pvt. Ltdis in the business of Payroll, Outsourcing, and Regulatory Compliances since its inception in 2004 since then, has brought in a lot of efficiencies and technological upgradations with experts on its role, to ease the hassles of Payroll Processing, Temp Staffing On-boarding Management, Regulatory and Payroll compliances by providing customized solutions to all its elite clients. Karma Global does a lot of work as far as outsourcing and shared services are concerned, both within and outside the country, such as Canada, the US, the UK, UAE, South East Asia, etc.  In seconds its employees are on the locations of various clients and it also has many sister concerns where such services are rendered.  As far as compliances and taxation are concerned, all its books are up to date, and taxes are paid accordingly as per the rules including the filing of quarterly returns as per the IT act. Karma will make it a point to inform all its clients as a part of the dissemination of information, announcements, updates, weekly tag, monthly newsletters, email updates, etc. Subject:  CBDT extends deadline for filing TDS for non-salary transactions till Nov 30

Form 26Q is used for quarterly filing of TDS returns on payments other than salary.

 

For greater details, appended below is the complete news item

What is form 26Q for? Form 26Q is used for quarterly filing of TDS returns on payments other than salary. The Central Board of Direct Taxes on Thursday extended the deadline for filing quarterly TDS statements in Form 26Q for the June quarter by a month till November 30  

CBDT extends the deadline for filing TDS for non-salary transactions till Nov 30

  Govt has extended the deadline to November 30 The Central Board of Direct Taxes on Thursday extended the deadline for filing quarterly TDS statements in Form 26Q for the June quarter by a month till November 30.   Form 26Q is used for quarterly filing of TDS returns on payments other than salary.

“Considering the difficulties in the filing of TDS statement in the revised and updated Form 26Q, the Central Board of Direct Taxes (CBDT) has extended the due date of filing of Form 26Q for the second quarter of the financial year 2022-23 from 31st October 2022 to 30th November 2022,” CBDT said in a statement.

The form captures the detail of the total amount paid and the tax deducted on such payments during the quarter. It would include payments on account of interest on securities, dividends, winnings from lotteries and crossword puzzles, rent, interest other than interest on securities, and fees for professional or technical services. Some of the Agencies said taxpayers have been experiencing a number of technical issues recently, including challan mismatches, challan verification failures, and auto adjustments of challans, which made it impossible to file a TDS return on Form 26Q.

“CBDT has acknowledged it, extending the deadline by one month and giving tax deductors a much-needed reprieve. However, no such exemption is offered for TDS returns that apply to transactions involving salaries (Form 24Q) and non-residents,”