Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : This guide explains the exclusive tax benefits, deductions, exemptions, concessional tax regimes, and compliance relief available ...
Income Tax : The Income-tax Act, 2025 replaces old TDS/TCS provisions with Section 395 and Form 128 while retaining the existing mechanism for ...
CA, CS, CMA : A complete guide to the major Income Tax and GST compliance deadlines falling in July 2026, including ITR filing, TDS/TCS, GST ret...
Income Tax : From 1 April 2026, TDS and TCS compliance shifts to new form numbers and section references under the Income-tax Act, 2025. Busine...
Income Tax : Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transaction...
Income Tax : Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificate...
Income Tax : Stakeholder-wise and thematic overview of Budget 2026 tax reform proposals covering farmers, MSMEs, corporates, NRIs, exporters, a...
Income Tax : The C&AG’s audits ensure proper assessment, collection, and allocation of direct taxes, identifying evasion risks and improving ...
Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
Income Tax : The Chhattisgarh High Court held that TCS under Section 206C(1C) cannot be collected on compounding fees recovered from illegal mi...
Income Tax : The Chhattisgarh High Court ruled that TCS under Section 206C(1C) applies only to lease holders, licence holders, or persons grant...
Income Tax : The Supreme Court upheld that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled tha...
Income Tax : The High Court held that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence. It ruled that com...
Income Tax : The Supreme Court declined to interfere with a High Court ruling that TCS under Section 206C(1C) does not apply to compounding fin...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Goods and Services Tax : The advisory explains that registrations will be automatically suspended if bank account details are not furnished within 30 days....
Income Tax : CBDT Circular 9/2025 offers partial relief for higher TDS/TCS on inoperative PANs, extending compliance deadlines for taxpayers wh...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
TDS related management has already got messed-up and going forward to a point where it is going to have a count of the breathtaking of the deductors so that they may be penalized for violation of medically recommended count of 60 breaths per minute.
Government dues tendered in the form of a cheque or draft which is accepted under the provisions of rule 19 and is honoured on presentation, shall be deemed to have been paid- i. where the cheque or draft is tendered to the bank, on the date on which it was cleared and entered in the receipt scroll;
As you are aware, it is mandatory for AOs to file Form No. 24G on monthly basis with in the prescribed time. Based on the particulars reported in Form No. 24G, Book Identification Number (BIN) is generated and intimated to the respective AOs by TIN Central System. AOs can download BIN from TIN Portal. AOs […]
The new version 3.8 of the Return Preparation Utility (RPU) features following significant changes from the previous: Discontinuation of functionality to delete Deductee records: For the purpose of correct reporting, deletion of Deductee rows is no longer permissible in the TDS statements. Accordingly, the delete option available under “Updation mode for Deductee” has been removed from the RPU.
With the release of new version of FVU NSDL has made a new begining by accepting e-TDS/TCS returns online from to-day. New version of FVU now auto generates Form 27A in PDF. TIN_FCs would now be hard pressed to meet chalanges on Peak Days as the fate of server of NSDL would decide how fast one […]
Key feature of FVU version 2.137 Deletion of deductee record: Feature to delete the deductee record has been discontinued. In case the user wishes to nullify a deductee record/ transaction, he is required to update the amount and related fields to “0” (zero) and add new record with updated values. Date of deduction: Date of […]
Key feature of FVU version 4.1 Deletion of deductee record: Feature to delete the deductee record has been discontinued. In case the user wishes to nullify a deductee record/ transaction, he is required to update the amount and related fields to “0” (zero) and add new record with updated values. Date of deduction: Date of […]
As advised by Income Tax Department: TIN will accept TDS/TCS statements only pertaining to Financial Year 2007-08 and onwards. Statements for Financial Years upto 2006-07 will not be accepted at TIN. Acceptance of ‘Y’ type of correction TDS/TCS statements have been discontinued at TIN The above is with effect from July 1, 2013.
In the Chart given below Author has compiled the TDS / TCS rates as applicable for Assessment year (AY) 2014-15 or Financial Year (FY) 2013-14. In this Year Government has made TDS applicable on Compensation / Consideration on transfer of certain immovable property other than agricultural land (w.e.f. 01 .06.2013).
TIN With effect from May 4, 2013, revised rates for acceptance of e-TDS/TCS, Form 24G Statements and AIR at TIN Facilitation Centres (TIN-FCs) are as under: Basis of charges Charges* 0 – 100 records 35.00 100 – 1000 records 200.00 More than 1000 records 650.00 *Inclusive of service tax
