TDSMAN has been updated for the following newly released File Validation Utilities: FVU ver. 5.3 – For statement pertaining to FY 2010-11 onwards FVU ver. 2.149 – For statement up to FY 2009-10 Please click on “Update Software” in “Utilities” menu to update software and FVU ver. 5.3 & FVU ver. 2.149 utilities. Click here…
The Income Tax Department has released the following new File Validation Utilities: FVU version 5.3-For statement pertaining to FY 2010-11 onwards FVU version 2.149-For statement up to FY 2009-10 Click here to view the key features of FVU version 5.3 Click here to view the key features of FVU version 2.149 TDSMAN will incorporate new…
1. Change in the encryption certificate present in the FVUs. Since existing encryption certificate present in FVUs is expiring on November 30, 2016, newly procured encryption certificate by NSDL e-Gov. will be incorporated in FVUs. 2. This version of FVU is applicable with effect from November 26, 2016.
1. Newly added fields for Form 27Q i.e. Email ID of deductee, Contact number of deductee, Address of deductee in country of residence & Tax Identification Number /Unique identification number of deductee are to be made mandatory only for below mentioned nature of remittances. – Interest payment – Royalty – Fees for technical services/ fees for included…
Here are 10 things to know about sms alerts on Salary TDS Deduction: 1) As many as 2.5 crore salaried taxpayers will now receive SMS alerts from the Income Tax Department regarding their quarterly TDS deductions. The tax department plans to offer this facility on a monthly basis and extend the service to 4.4 crore…
Following are the types of Defaults that may get generated on 26QB processing:- 1.Short Deduction: Short deduction is computed when the rate at which TDS Deducted’ is less than 1%. Short Deduction Computation u/s 200A Sr. No Section Code Amount Paid / Credited as per 26QB (Rs.) TDS Deposited as per challan (s)(Rs.) Rate at…
Amendment in Rule 114B for compulsory quoting of pan in case of cash deposit exceeding Rs. 50000 in a single day or aggregating to more than Rs. 2.5 lakh during the period from 09.11.2016 till 30.12.2016. Amendment in Rule 114E for filing AIR report as required under section 285BA of Income Tax Act, 1961 wrt…
Form 16B shall be generated by TDS-CPC after the processing of Form 26QB (statement come Challan form) filed by buyer. Following are the steps to generate form 16B:- Buyer has to register on TRACES as Taxpayer. Login to TRACES as tax payer. Submit Download Request for Form 16B under ‘Downloads’ tab. File will be available…
In case of excess deduction of tax at source, claim of refund of such excess TDS can be made by the deductor. The excess amount is refundable as per procedure laid down for refund of TDS. The difference between the actual payment made by the deductor and the tax deducted at source or deductible, whichever…
Following are some useful guidelines to avoid common mistakes, while submitting TDS Statements and you are requested to go through the following in detail. Incorrect reporting of 197 Certificates: Please refer to the following guidelines for correct reporting of 197 Certificates: The Certificate Number should be of 10 digits with Alpha-numeric structure. Please refer to…