One can avoid defaults in the TDS statements, by way of adherence to the following basic principles: Timely Payment of total taxes deducted/ collected Correct Reporting with regard to PANs, Tax Rate and Challans Complete Reporting for all Deductees Timely filing of TDS Statements Following are some important facts to be adhered to,…
The Income Tax Department has released the following new File Validation Utilities on 26th April, 2014: FVU version 4.2-For Statements pertaining to FY 2010-11 onwards. FVU version 2.138-For Statements upto FY 2009-10. These two FVU versions are mandatory with effect from April 26, 2014. Click here to view the key features of FVU version 4.2…
Nil challans in TDS/TCS Statements will be permitted with no deductee records for Form 24Q Q4: The validations with respect to Nil challan statements have been relaxed for Form 24Q Q4 for all financial years. Deductors will be permitted to submit Form 24Q Q4 for all Financial Years with NIL challans and no corresponding deductee…
Nil challans in TDS/TCS Statements will be permitted with no deductee records for Form 24Q Q4: The validations with respect to Nil challan statements have been relaxed for Form 24Q Q4 for all financial years. Deductors will be permitted to submit Form 24Q Q4 for all Financial Years with NIL challans and no corresponding deductee…