Hi guy’s

This is Ravi Varma, in this article I will tell you about how to pay interest & late filing fees

Let’s start,

When we make monthly payments of TDS late due to any reason, then interest starts charging on us. (If we do not deposit the TDS AMT then 1.5% p.m will be fined up to)

If we delay in filing TDS return then we start charging a late filing fee and this amount cannot exceed the TDS amount but if we do not file TDS return then we are fined up to 1 lakh Will go (If we do not fill the TDS return then 200 per day will be fined up to)

*****If we have to do any kind of correction of TDS or we have to pay any kind of penalty then we can do all this work on the TRACES portal.

^{STEP TO STEP FILING TDS INTEREST & LATE FILING FEES}

Please log in to your traces portal with your credentials.

2. Enter your Login ID, Password along with your company’s TAN number, and also enter the verification code after doing this please click on the login button.

3. Go to the default section and under this, you will see the request for correction option then click on it.

4. In this, you will ask for some details of the year for which year you want to make corrections.

A. Financial year – First we have to select the financial year.

B. Quarter – 2nd we have to select the quarter.

C. Form type – 3rd we have to select the form type.

D. Correction Category – And last we have to select the correction category (offline/online)

5. Next go to the track correction report option.

6. Under this you have to click on the view all option.

7. As soon as you click on View All option then you will get all your statuses to show as many statuses you have submitted for correction and as soon as this status will be available then you have to click on it

8. When you click on the available statement, you will now be asked for some details to make the correction of that statement, which you will have to fill.

1. Token number – You will get this token number on your income tax portal
2. BSR code – When you submit your TDS challan to the bank, at that time the bank also gives the BSR code of your bank in your statement.
3. Date of tax deposit – On whichever date you have paid TDS, you have to write that date here. (DD/MM/YY)
4. Challan Amount – You have to write the total value of the TDS amount you have paid in that challan here. {(And while writing the amount, in the last you have to give a point and write double zero (2000.00)}

9. In the next option, you have to enter the details of the deductee having at least 3 PAN numbers.

And you will also have to enter the Amount of TDS deducted according to that PAN.

And click on the proceed button.

***If there will not be any details with 3 deductees then you will have less than 3 deductees then you can complete this step from its details also.

10. As soon as you click on Proceed button you will get a code after that, when you have any problem related to it in the future, you can solve it with this code, now you have to click on proceed with transaction button.

11. In the next step, you have to add the challan, then for this, you have to select the option of add challan and click on the view detail option.

*****You have to create a new challan for all the interest or late fees you have to pay and enter all the penalty amount in that challan and submit it with the help of the ITNS-281 form.

12. Now you have to select the challan which you have submitted by clicking on the option of Add Challan given below.

13. In this option, you will select the challan and click on add challan statement.

14. After this, we will set off whatever tax we had deposited, in this column, we will enter interest and late fees amount in the given column and click on the save button given below.

15. The color of the challan from which you have selected and paid the interest will change and after that, you have to click on the submit correction statement given below.

16. After this we will again get a confirmation option, then we have to click on confirm.

17. Now we will have a popup to submit the correction we have done, then we have to click on that pop-up.

18. After that, you have to select the correction statement and click on the view statement.

19. Now you will finally complete the last step and click on submit for processing button, as soon as you click on this option your statement will be submitted successfully and you will get the final message that your correction has been saved.

20. You got a final message that your statement is submitted successfully.

If you do not know how to file ITNS 281 challan in step by step method then you can click on the link to learn how we can prepare challan for correction or interest & late fees. https://www.stocksmantra.in/how-to-generate-a-new-tds-challan-for-payment-of-interest-and-late-filing-fees/

Thanks,

Hi guy’s

This is Ravi Varma, in this article I will tell you how to register online in MSME.

Let’s start,

There are many small firms and companies in our India who manufacture a lot of goods and export them to other countries. So that the revenue comes in India, then the Indian government made a very good plan for all these small businessmen, which we call MSME.

In this, all the businessmen have to choose the category for themselves according to their turnover and under this scheme, many types of discounts have been given to the businessman by the government and in this, the bank interest is given at a very low rate.

Benefits of MSME

1. A loan is easily available from the bank.
2. The interest rate in the loan is to be paid at a very low rate.
3. Goods get a fair price
4. There are many options available to earn profit in this business.
5. If a business is registered in MSME and if a seller is not giving his money in return for his goods, then the government helps the businessman to collect his money.

Step by Step online MSME registration process.

Step 01:- Go to your browser and search udyam registration.

MSME site lInk:- https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm

Step 02:- Click on this option.

Step 03:- As soon as we click on this option, it takes us to the official page of the MSME, from where we can take our registration and there is no charge for registering in it.

Step 04:- If you are going to register in MSME for the first time then choose the first option.

Step 05:- After clicking this enter your aadharnumber and name of your entrepreneur.

Step 06:- click on the validate and generate the OTP option.

Step 07:- enter your one-time password (This password is given to your registered mobile number)

Step 08:- The next option is the PAN card detail option do you have your PAN card then click the yes option and enter your PAN card number. first of all, you are to select your organization type and click to PAN validate option.

Step 09:- After doing that you have got a PAN successfully verified message.

Step 10:- Next is whether you file an income tax return and have a GSTIN number if you have then click on the Yes option and enter your ITR details and enter your GSTIN number.

Step 11:- After doing this you will get a new column in which you have to give your mobile number and email option, please enter it, and most importantly do not change the rate of shares as 51% rate is applicable for all categories of persons.

Step 12:- After this process, what is the name of the company, the option to enter the address, what is your gender, what is your category, you have to give information about all these things.

You also have to tell how much employee work you have. Whether you are starting the business of goods or manufacturing you have to choose the option for this also. You have to enter your firm’s CIN number.

And you are required to enter the amount of your company’s turnover

Step 13:- After completing all the procedures, click on submit and final OTP icon.

Step 14:- In the final step you got an OPT in your registered mobile number please enter this OTP in the below option and finally enter the captcha code then click the final submit option.

Step 15:- Finally, you got a popup that will confirm that your registration is successful.

Step 16:- You will get your MSME registration number which is very important to get your MSME certificate.

Note point*** You will get your MSME certificate after 10 to 15 days as the government scrutinizes the registration form filed by you after that issues your certificate.