Following are the common reasons for rejecting a correction statement: TAN is not valid as per data at TDSCPC Statement corresponding to regular token number / previous token number field, as given in correction return, does not exist Previous token number does not correspond to the last accepted correction statement at TDSCPC Correction is filed…
Last date for payment of tax deductions for March 2015 – 30th April, 2015 Last date for filing of TDS returns for Q4 of FY: 2014-15 – 15th May, 2015 Last date for issuance of TDS certificates for Q4 of FY: 2014-15 – 30th May, 2015 The above dates are applicable for non – government…
TDSMAN software has been updated for the newly released File Validation Utilities (FVU ver. 4.6 and FVU ver. 2.142). 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. Click here to view the key features…
The long awaited FVU has been released late evening on 20th April 2015. Brief analysis of the same is as under: Mandatory to quote PAN of Responsible Person: It is now mandatory to quote the PAN of the Responsible Person in all Regular TDS Returns and Correction Statements. It is applicable for all returns /…
The Income Tax Department has released the following new File Validation Utilities: FVU version 4.6-For statement pertaining to FY 2010-11 onwards. FVU version 2.142-For statements pertaining to FY 2007-08 to FY 2009-10. These two FVU versions are mandatory with effect from April 21, 2015. Click here to view the key features of FVU version 4.6….
Quoting of PAN of responsible person for deducting/ collecting tax. This version of FVU will be applicable with effect from April 21, 2015.
Quoting of PAN of responsible person for deducting/ collecting tax. Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e.,through transfer voucher. Quoting of BIN details mandatory only for the statements pertaining to FY 2013-14 onwards. Update of tax deposit amount in deductee details enabled for the deductee records where…
Taxpayers, deductors or collectors can pay direct taxes through Authorised Bank branches either physically, through ATM or through internet. Type of Challans to be used for tax payments Challan Description ITNS 280 For depositing Advance tax, Self Assessment tax, Tax on Regular Assessment, Surtax, Tax on Distributed Profits of Domestic Company and Tax on Distributed…
Prepare yourself with the updated TDSMAN for the financial year 2015-16. Apart from filing TDS returns for FY: 2015-16, it can also be used to file TDS returns for FY: 2014-15-Quarter 4 which falls due at 15th May, 2015 at no extra cost. Further, the same software can also be used to prepare returns (including corrections…
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 One needs to understand the different reasons & types of…