Alert for taxpayers! Last date today to apply for TDS payment, GSTR-4 filing, 15G and 15H form submission

Direct and indirect taxpayers alike must be aware of the due dates for specific files because failing to do so could result in penalties. The government frequently doesn't extend deadlines for certain tax files and other things, although it occasionally does. You need to be aware that the following filings have a deadline of April 30.

TDS Payment

TDS is the tax deducted at source. Rent, consulting fees, commissions, cryptocurrency or virtual digital assets, and stamp duty among other sources of income from which TDS is deducted. It is deposited with the government. The due date for TDS payment in March 2023 is April 30, 2023.

GSTR-4 Filing:

The GSTR-4 is a return for taxpayers who opt for the composition scheme that is part of the goods and services tax regime. The deadline for GSTR-4 return filing for the financial year 2022-23 is April 30, 2023.

Up to Rs 2,000 in late fees, there is a daily late cost of Rs 50. The maximum late fee is Rs 500 in cases when there is no tax obligation.

15G and 15H Form Submission:
If a bank customer has a deposit with the bank and receives interest on it that exceeds Rs 40,000 per year, the bank will deduct TDS from that interest. For senior citizens, the annual TDS cap is Rs. 50,000. You can, however, avoid TDS on interest income.
You can submit self-declaration Forms 15G and 15H to the bank requesting that the TDS not be subtracted from the interest income if the total annual income is below the taxable threshold. You can, however, avoid TDS on interest income.