GSTR-7
The due date for filing of GSTR-7, Return for Tax Deducted at Source for the period of November, 2021 is 7th December, 2021
Tax Deducted at Source
Deposit of TDS/TCS
The due date for deposit of Tax deducted/collected for the month of November, 2021 is 7th December, 2021. Book your services @TaxHelpdesk.
GSTR-7
The due date for filing of GSTR-7, Return for Tax Deducted at Source for the period of October, 2021 is 7th November, 2021
Rate Chart of TDS for FY 2021-22 AY 2022-23
The TDS rates varies from type of taxpayer and the income bracket. The rates of TDS for FY 2021-22 | AY 2022-23 are as follows:
Which Section is applicable – Section 194Q or Section 206C(1H)?
Through the Union Budget, 2021, a new section namely Section 194Q was inserted in the Income Tax Act and this section is similar to the provisions of Section 206C(1H) of the Act. This is so because both of these sections deals with same transaction of sales/purchases above Rs. 50 lacs from party whose turnover whose turnover is previous year exceeds Rs. 10 crore. Further, Section 194Q talks about deducting TDS and Section 206(1H) talks about collecting tax.
Income Tax Compliance Calendar: July, 2021
Due to the pandemic COVID-19, various dates of compliances related to Income Tax has been extended. All the due dates in of July, 2021 are:
Furnishing of challan-cum-statement (Section 194-IB)
Due date for furnishing of challan-cum-statement in respect of TDS under section 194-IB in the month of December, 2020 is 30th January, 2021.