Applicability: This shall be effective 1st July’21 TDS Rate: 0.1% on amount exceeding Rs 50L 5% if PAN is not furnished When to Deduct? Assessee…
View More Section 194Q – TDS on Purchase of Goods (Union Budget 2021)Month: October 2023
Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021
Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the…
View More Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021Section 194LBB – Income in respect of units of the Investment Fund
Section 194LBB of the Income Tax Act, 1961 has been inserted with effect from 1st June 2015 on TDS deduction on Income from Investment Funds. Time…
View More Section 194LBB – Income in respect of units of the Investment FundNew File Validation Utilities (FVUs) Version 8.3 & 2.179 released by NSDL on 11th October 2023
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of these FVUs are summarized…
View More New File Validation Utilities (FVUs) Version 8.3 & 2.179 released by NSDL on 11th October 2023Section 193 – TDS on Interest on Securities
Section 193 – TDS shall be deducted on interest paid on securities by the interest payer Time of Deduction- TDS to be deducted at the…
View More Section 193 – TDS on Interest on SecuritiesTDS / TCS Compliance Reminder for October 2023
7th October 2023 – Due date for TDS/TCS payment for deductions/collections during September 2023 15th October 2023 – Due date of filing TCS Return for Quarter 2 of Financial Year 2023-2024 30th…
View More TDS / TCS Compliance Reminder for October 2023TDS / TCS at Higher Rates for Non-filers of Income Tax Return
The government of India has been implementing measures to curb tax evasion and increase tax compliance by streamlining the tax collection processes. One of those…
View More TDS / TCS at Higher Rates for Non-filers of Income Tax Return