Changes in Form 27A generated from File Validation Utility. The Quarter of the statement is made available in Form 27A as generated from FVU. Example:…
View More Key Features -File Validation Utility (FVU) version 2.148Category: TCS
Tax Collected at Source
Key Features -File Validation Utility (FVU) version 5.2
Addition of new fields for Form 24Q-Q4 under Annexure ll (i.e. salary details) as below: Aggregate rent payment exceeds rupees one lakh during the previous…
View More Key Features -File Validation Utility (FVU) version 5.2CBDT amends TDS and TCS related certain rules
Background Recently, the Central Board of Direct Taxes (CBDT) has issued a Notification amending Income-tax Rules, 1962 (the Rules) with respect to Tax Deducted at…
View More CBDT amends TDS and TCS related certain rulesAdvisory for taxpayers
Check your 26AS Tax credit statement regularly! 26AS statement contains tax credits available to taxpayer for claim in Income Tax Return along with information on…
View More Advisory for taxpayersFrequently Asked Questions (FAQ) on Form 16/16A
What is Form 16 / 16A? It is the certificate of deduction of tax at source by any person in accordance with Chapter XVII-B of…
View More Frequently Asked Questions (FAQ) on Form 16/16ADifferent matching statuses in Form 16 / Form 16A
Following are different matching statuses in Form 16 / Form 16A: U-Unmatched (Deductor has not deposited taxes or has furnished incorrect particulars of tax payment.…
View More Different matching statuses in Form 16 / Form 16AReasons to reject the correction in challan detail by TDS-CPC
Rejection reasons pertaining to challan details are as follows: Challan detail record on which correction has been filed does not exist in regular / previous…
View More Reasons to reject the correction in challan detail by TDS-CPCPayment of taxes -Do’s & Dont’s
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…
View More Payment of taxes -Do’s & Dont’sBasic principles of TDS Compliance
The following are the basic principles of TDS compliance: Deduction/ Collection of Tax at Correct Rates Timely Deposit of Tax Deducted at Source Accurate Reporting…
View More Basic principles of TDS ComplianceLate Filing of TDS Returns – Fees and Penalty
Fees and Penalty for Late Filing of TDS Returns are as follows: Section 234E-Levy of Fees Failure to submit TDS return on time will result in…
View More Late Filing of TDS Returns – Fees and Penalty