Change in validation of quarterly TDS/TCS statement wherein Book entry flag should not be provided in the challan details in case of nil challan\nil transfer voucher. Change in name of the field of as below: In the deductee details (Form 27Q-Annexure I), name of the field Country to which Remittance made has been changed to…
Change in validation of quarterly TDS/TCS statements are as below: Book entry flag should not be provided in the challan details for nil challan/nil transfer voucher for all the financial years. In the salary details (Form 24Q Q4-Annexure II), if PAN provided is invalid (i.e. PANNOTAVBL, PANAPPLIED & PANINVALID), then the flag in the column…
The Income Tax Department has released the following new File Validation Utilities on 12 August 2013 which would be mandatory from September 01, 2013: FVU version 2.135 up to FY 2009-10. FVU version 3.9 for FY 2010-11 and onwards. FVU version 3.8 and FVU Version 2.134 are applicable upto August 31, 2013. Click here to…
NSDL e-Governance Infrastructure Limited launched an online upload of e-TDS return facility enabling entities to directly furnish (upload) their e-TDS returns (Form 24, 26 and 27 only) to the TIN central system through the Internet on July 10, 2004. Online upload of electronic statement facility can be used for upload of quarterly e-TDS/TCS statements (F.Y….
Interest on late deposit of TDS is applicable @ 1.5 % per month or part thereof. The period for delay is taken from date of deduction to date of deposit. So, in specific cases a delay of one day may lead to pay interest @ 3 % . Suppose: TDS deducted on 01.08.13. In this…
Tax deductors who default in depositing TDS by due date shall be liable for prosecution: CBDT Central Board of Direct Taxes (CBDT) issued a press release in which CBDT said that tax deductors who deduct TDS but does not deposit the same into the Government Account within the stipulated time period are liable for prosecution…
TDS Payment is liable to be made by any assesse who has deducted TDS at the time of incurring any expenditure. The Due Date for TDS Payment is separate for Govt. and Non-Govt. assessees as mentioned below: Due Date for TDS Payment in case of Govt. Assessee: S. No. Particulars Due Date 1. Tax Deposited…