Taxpayers, direct or oblique, are at all times susceptible to paying penalties if filings are usually not finished well timed.
Taxpayers have to file GSTR-4, TDS and Form 15G & 15H as quickly as doable as their due date is tomorrow, April 30
Taxpayers, direct or oblique, are at all times susceptible to paying penalties if filings are usually not finished well timed. The authorities at occasions extends dates for varied tax filings and different issues, whereas in lots of instances, it doesn’t. Now, April 30 is the final date for the next filings which you should know.
TDS Payment Due Date for March 2023
TDS is the tax deducted at supply. It means TDS is deducted from earnings at its supply, together with financial institution deposit curiosity, rents, session charges, commissions, cryptocurrency or digital digital belongings, and stamp responsibility, amongst others. It is deposited with the federal government.
The regular TDS charge will be as little as 1 per cent on varied incomes and investments, and it may be as excessive as 30 per cent (like within the case of good points on cryptocurrency).
The TDS fee due date for March 2023 is April 30, 2023.
Due Date For GSTR-4 (Composition Dealer) for FY 2022-23
GSTR-4 is a return beneath the products and companies tax regime for these taxpayers who’re choosing the composition scheme. It is now filed in a yr, as towards till FY 2018-19 when the return was filed each quarter.
The final date for submitting the annual GSTR-4 return for the monetary yr 2022-23 is April 30, 2023.
A late payment of Rs 50 per day is levied as much as a most of Rs 2,000. In the case the place the tax legal responsibility is zero, the utmost late payment is Rs 500.
The composition scheme is a scheme for fee of GST obtainable to small taxpayers, whose combination turnover within the previous monetary yr didn’t cross Rs 1.5 lakh. Those who’ve opted in will pay a particular tax charge of 6 per cent with out the enter tax credit score.
Last Date For Filing 15G and 15H for Q4FY23 (January-March 2023)
If you’ve gotten a deposit in a financial institution and have earned an curiosity of over Rs 40,000 in a yr, the financial institution will deduct TDS on it. The restrict for senior residents is Rs 50,000 a yr. However, there is a approach save TDS on curiosity earnings. If you whole annual earnings is under the taxable restrict, you may submit self-declaration Form 15G and 15H requesting the financial institution to not deduct the TDS from the curiosity earnings.
The final date for submitting kinds 15G and 15H to avoid wasting TDS on curiosity earnings for the January-March 2023 quarter is April 30, 2023.
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