TDSMAN software has been updated for the newly released File Validation Utilities (FVU ver. 4.3 and FVU ver. 2.139). All licensed and trial users are advised to update the software and File Validation Utility from the Utilities menu provided in the software in order to process the TDS returns. These two FVU versions are mandatory…
The Income Tax Department has released the following new File Validation Utilities on 27th June, 2014: FVU version 4.3 – For Statements pertaining to FY 2010-11 onwards. FVU version 2.139 – For Statements upto FY 2009-10. These two FVU versions are mandatory with effect from June 28, 2014. Click here to view the key features of FVU…
Addition of New State code for TELANGANA. New State code 36 for TELANGANA has been added. Applicability of FVU version: From June 28, 2014, FVU version 4.3 would be mandatory for statements pertain to FY 2010-11 onwards.
Addition of New State code for TELANGANA. New State code 36 for TELANGANA has been added. Applicability of FVU version: From June 28, 2014, FVU version 2.139 would be mandatory for statements pertain to FY 2007-08 to FY 2009-10.
How much amount do I pay for intimation received on Short Payment with Provisional Interest? Provisional interest is calculated till the date of processing of statement. Deposit principal amount of short payment along with interest @ 1.5% per month from date of deduction till date of deposit and file the correction for the same. I…
CBDT has issued a notification 32/2014 dated 23-06-2014 regarding wealth tax return. CBDT has prescribed that this form can be filed online with or without digital signature. For certain class of Assessee i.e. Individual/HUF not liable to tax audit e-filing is optional but for other class of Assessees i.e. Individual/HUF liable to audit and Companies …
ITAT Bangalore Bench recently in an appeal held that any fees paid by the assessee to foreign agencies for availing the service of access to record of online consumers maintained by them, to carry out market research for its clients, will be regarded as royalty and liable to deduct tax at source while making payment…
ITAT Chennai Bench recently held that assessee is not liable to deduct tax at source for making payment to its foreign agents for rendering services abroad, if the foreign agent does not have a permanent establishment in India and the service rendered is not in the nature of technical service. Facts of the case: The…
Income-Tax Department uses the registered contact details (Mobile number & E-mail ID) for all communications related to e-Filing. It is mandatory that all tax payers must have a valid contact details registered in e-Filing portal. It is noticed that many registered users are not having authenticated contact details in e-Filing or may have provided details…
What should I do in case of Late Payment / Late Deduction intimation received? The default amount will have to be deposited through challan no 281 by ticking minor head ‘400’. Download conso file from TRACES for filing correction and update the challan detail. While filing correction, fill up interest amount in column no. 403…