Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
CA, CS, CMA : Stay updated with the latest legal compliances and key deadlines for November 2024 in India, including FEMA filings and ITR submis...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Goods and Services Tax : Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and effi...
Income Tax : Explore proposed Budget 2025 changes in TDS/TCS provisions, including revised thresholds and rates. Learn how these amendments aim...
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-...
Income Tax : KSCAA requests review of incorrect TDS credit processing by CPC Bengaluru for AY 2024-25 and urges system corrections and resoluti...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : CBDT's new circular relaxes TDS/TCS rules for deceased deductees/collectees before PAN-Aadhaar linking, eliminating tax liability ...
Income Tax : The Orissa High Court quashed prosecution against Kashvi International for delayed TDS deposit, citing COVID-19 and financial hard...
Goods and Services Tax : Madras High Court held that order confirming demand due to mismatch between returns under GST set aside with condition to deposit ...
Income Tax : ITAT Ahmedabad partially upholds CIT(A)'s decision on TCS collection under Section 206C. Analysis focuses on Form 27C delays, proc...
Income Tax : ITAT Bangalore held that TCS credit is allowed to the entity conducting the business, irrespective of the fact that the liquor lic...
Corporate Law : Jharkhand High Court directs refund of Tax Collected at Source (TCS) by Central Coalfields Ltd. to R.S. Coke Industries (Pvt) Ltd....
Income Tax : Government specifies IFSC units exempt from tax collection under Section 206C(1H) for eligible purchases. Details outlined for buy...
Income Tax : CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Inco...
Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...
Income Tax : The Ministry of Finance exempts RBI from Section 206CCA of Income Tax Act, 1961 through Notification No. 46/2024 dated 27th May, 2...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
This is to inform you that due date for filing Quarterly TDS/TCS statement for Q2 of FY 2015-16 is fast approaching. Do submit the quarterly TDS/TCS statement on or before due dates (as mentioned below) to avoid late filing fee under section 234E of Income Tax Act.
Key Features – File Validation Utility (FVU) version 2.144 Discontinuation of C9 Correction Statements: As directed by Income Tax Department (ITD), C9 correction i.e. addition of new Challans in Correction Statement(s) has been discontinued. This version of FVU will be applicable with effect from September 29, 2015. Download Link- https://www.tin-nsdl.com/download/e-tds/FVU%202.144.zip
Kindly use NSDL e-Gov Return Preparation Utility (RPU) version 1.3 (JAVA based) for preparation of your e-TDS/TCS Statement(s). VB based NSDL e-Gov Return Preparation Utility (RPU) has been discontinued from TIN website with effect from September 28th, 2015.
Key Features – File Validation Utility (FVU) version 4.8 ♣ Section code 192A: In addition to Form no. 26Q, this section will also be applicable for Form no. 27Q where the date of payment to deductee is on or after 01/06/2015. ♣ Discontinuation of C9 Correction Statements: As directed by Income Tax Department (ITD), C9 […]
e-TDS/TCS Return Preparation Utility Ver. 1.2 based on JAVA platform for Regular & Correction Statement(s) from FY 2007-08 onwards released (24/06/2015) Key Features – Return Preparation Utility (RPU) version 1.2 ♠ Preparation of Regular and Correction TDS/TCS Statement(s) for Form 24Q, 26Q, 27Q & 27EQ pertaining to Financial Year 2007-08 onwards (for all quarters).
For many applications on the TRACES website, deductor is required to provide KYC Validation. KYC Validation refers to three main details to be provided by the user to gain access to facilities such as downloading a justification report, filing an online correction in TRACES, download of Form 16A and so on.
TDS/TCS Rates Chart for Financial Year 2015-16 / Assessment Year 2016-17 vide Finance Act 2015 i.e Budget 2015-16- We have updated the TDS rate chart considering the amendments made by Finance Act, 2015. Some of these amendments takes effect from 01.04.2015 and other have taken effect from 01.06.2015.
NSDL has issued new file validation utility (FVU) version 4.6 for filling and correction of TDS quarterly return from FY 2010-11 and onwards. It has some additional controls put in which check various calculations and tried to get maximum information with less error. However due to more control authority has not kept in mind few concepts of TDS on salary. It is very difficult to prepare TDS on salary form 24Q return.
NSDL has released on 20.04.2015 e-TDS/TCS File Validation Utility (FVU) version 4.6 for quarterly e-TDS/TCS statements from FY 2010-11 and onwards. Key Features – File Validation Utility (FVU) version 4.6 Quoting of PAN of responsible person for deducting/ collecting tax. Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e., […]
e-TDS/TCS RPU (Version 4.3) for Statements from FY 2007-08 onwards released (20/04/2015) Key Features – Return Preparation Utility (RPU) version 4.3 Quoting of PAN of responsible person for deducting/ collecting tax. Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e., through transfer voucher. Quoting of BIN mandatory only for the […]
