The deadline to deposit tax collected and deducted in October is right around the corner, and with Diwali festivities winding down, we wanted to ensure you don’t miss the important date!
Remember, the deadline to deposit the TDS and TCS in October 2021 is November 7, so don’t forget to deposit the tax with the tax authority.
When you apply for SME financing with a formal lender, factors like your TDS and TCS filings and how responsibly you run your business matter. They increase your attractiveness to lenders and improve your SME loan prospects.
Lenders consider businesses that stay up-to-date with their tax dues as more creditworthy because they know such business owners run their business according to tax laws and may be more trustworthy.
Finally, depending on the type and size of the loan you apply for, lenders will also need your tax documents to conduct their credit assessment of your business. So, we advise you to stay on top of your tax obligations throughout the year, not just around the end of the financial year, to easily get the SME financing you need!
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