Income Tax : Encountering FVU errors (T_FV_6351 and T_FV_6354) while filing Form 24Q for Q4 of FY 23-24? Learn the reasons and resolutions to e...
Income Tax : Learn about TDS return filing: who must file, due dates, forms, required documents, penalties, how to check status, revising retur...
Income Tax : Discover the new, hassle-free method to download CSI files for TDS returns without logging in....
Income Tax : Learn the updated process of filing Form 26QB for TDS on the purchase of immovable property under section 194-IA from April 1, 202...
Finance : Navigate TDS rates and compliances for FY 2023-24 onwards. Learn about TDS payment due dates, late fees, interest, penalty, prosec...
Income Tax : Release of File Validation Utilities (FVUs) and Return Preparation Utility for e-TDS/TCS Statements File Validation Utility (FVU)...
Income Tax : Latest updates in RPU Version 4.7 for Regular & Correction quarterly e-TDS/TCS statements starting FY 2023-24. Discover key featur...
Income Tax : Latest updates in File Validation Utility (FVU) versions 2.178 and 8.2 for e-TDS/TCS statements. Learn about new columns, features...
Income Tax : Needless to say, in the regime of stringent statutory provisions, it is important to have a reliable software that not only helps ...
Income Tax : Preparing TDS Returns is a simple process and usually does not require any external assistance. However, it is prudent to follow p...
Income Tax : Read the detailed analysis of Birla Cement Works STFF Provident Fund's appeal against the late fee imposed under section 234E of t...
Income Tax : Explore the Kerala High Court's ruling deleting section 234E penalty for TDS return delay caused by filing in Form 24Q instead of ...
Income Tax : ITAT Ahmedabad has allowed the appeal of Kanta Govind Singh against the levy of a late filing fee under section 234E for a TDS ret...
Income Tax : ITAT Pune held that late fees u/s 234E of the Income Tax Act can be levied only prospectively with effect from 01.06.2015....
Income Tax : This writ petition has been filed, challenging the levy of fees under Section 234E of the Income Tax Act, for the financial year 2...
Income Tax : Get details on Circular No. 04/2024 by CBTD. Ex-post facto extension for Form No. 26QE due date till 30.05.2023. Waiver of fees an...
Income Tax : Central Board of Direct Taxes extends deadline for submitting Q1 TDS/TCS statements for the financial year 2023-24 until September...
Income Tax : CBDT extends due date for filing of TDS statement in Form 26Q for the second quarter of Financial Year 2022-23 This is to inform...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
Income Tax : CBDT revises Form No. 12BA (Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu o...
So the due date for filing of TDS return for 4th quarter (Jan 15-Mar 15) is 15th May 2015 which is about to come. As TDS return is required to be submitted electronically in some cases which can be prepared with the help of return preparation utility, to make this cumbersome process an easy one govt. has introduced a TDS Return Preparation utility (RPU) which can be downloaded from the site easily.
-e-TDS implies, filing of the TDS return in electronic media as per prescribed data structure in either a floppy or a CD ROM. The aforesaid requirement is essentially a part of the process of automation of collection, compilation and processing of TDS returns. Preparation of returns in electronic forms or e-TDS will eventually be beneficial to the deductor, by cutting down the return preparation time, reducing the volume of documentation and thereby economizing the compliance cost. At the same time, it will also facilitate the Government in better co-relation of taxes deducted with the taxes finally deposited in the banks and credits of TDS claimed by the deductees.
Points to be kept in mind while updating challan: identify the challan to be updated by its sequence no as per regular statement CIN, deposit amount as per regular statement . Update the challan detail as required. Along with the updated values, the correction statement should contain value of the CIN and deposit amount as per regular statement as well.
A correction TDS/TCS statement can be furnished multiple times to incorporate changes in the regular TDS/TCS statement whereas a regular TDS/TCS statement will be accepted at the TIN central system only once.
Government of India vide Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31.03.2020. notified relief measures related to Income Tax return filings, GST compliance, PAN-Aadhar linkage and other statutory and regulatory issues. Income Tax Act 1961 also covers under the Specified Act as per Para 2 of the ordinance. Extension of TDS Return […]
All the due dates, prescibed or notified under the Income Tax Act which fall during the period from March 20, 2020 to June 29, 2020 have been extended to June 30, 2020.
The last date for filing the TDS Statements for the Forth Quarter of FY 2019-20 is coming closer. There will be many deductors who did not deduct any tax during the relevant quarter and therefore they will not file any statement for deduction of tax at source u/s 200(3) of the Income Tax Act’1961. But […]
In this article we are discussing what is the rate of interest which Assessee may have to pay for delayed payment of TDS, when this interest becomes payable, what is the due date of tds payment, when tds needs to be deducted, how to calculate interest on TDS, Example of Interest Calculation, how to avoid and rectify interest default.
What is a Nil Return? What is the position for an assessee who has not made any payment at all in a quarter? What to do If for a quarter TDS return / statement are not filed and then the assessee receives a letter / notice from NSDL/ Income Tax Department for non-filing of e-TDS return/statement? When Assessee is required to file NIL TDS return? What about Challan and deduction Link for Zero Deduction? How to Create Nil Challan?
How can I update a deductee record? You can update deductee details viz; PAN of deductee, name, amount etc. Steps to update a deductee record are as under: Identify the challan corresponding the deductee record to be updated by its sequence no as per regular statement , CIN, deposit amount as per regular statement Identify the underlying deductee record to be updated by its sequence number as per regular statement under the challan identified as above.
