Given below are some dos and don’ts for the filing of TDS returns: Dos Ensure that TDS return is filed with the same TAN against which TDS payment has been made. Ensure that correct challan particulars including CIN and amount is mentioned. Correct PAN of the deductee is mentioned. Correct section is quoted against each…
7th July, 2019 is the last date for TDS and TCS payments for the deductions made in June 2019. Make sure to do the needful on time to avoid interest. To understand the details / calculations for late payment interest click on the links below. Calculation of Late Payment Interest Interest on Late Payment of…
Steps for filing TDS/ TCS Return online: Step – I The data structure (file format) in which the e-TDS / e-TCS return is to be prepared has been notified in https://www.tin-nsdl.com/services/etds-etcs/etds-rpu.html Step – II e-TDS/e-TCS return in accordance with the file formats is to be prepared in clean text ASCII format with ‘txt’ as filename…
The Income Tax Department has released on 28th June 2019, the following new File Validation Utilities: FVU version 6.3 – For statement pertaining to FY 2010-11 onwards FVU version 2.159 – For statement up to FY 2009-10 Click here to view the key features of FVU version 6.3 & FVU 2.159 TDSMAN will incorporate new…
File Validation Utility (FVU) version 6.3 & 2.159 Changes in FVU validations for accepting statements prepared for newly allotted TANs This FVU has been enhanced to validate the enhanced TAN structure forming part of deductor details These validations will be applicable for regular as well as correction statements These versions of FVU is applicable with…
Please note that 7th June, 2019 is the last date for TDS and TCS payments for the deductions made in May 2019. Make sure to do the needful on time to avoid interest. To understand the details / calculations for late payment interest click on the links below. Calculation of Late Payment Interest Interest on…
Recently vide its Notification No. 36/2019 by the Income Tax Department has substantially modified the format of Part B of Form 16 (Salary TDS Certificate given to Employees) with effect from FY:18-19. Correspondingly, the information to be provided by the employer in Annexure II of Form 24Q-Q4 (Salary Details – providing tax computation of each…
FVU Ver. 6.2 has been released on 12th May 2019. This FVU is primarily based on the new changes in Annexure II (Salary Details) of Form 24Q-Q4 as per Notification No. 36/2019 applicable with effect from financial year 2018-19 (AY:2019-20) Major changes include additional information related to breakup of salary, details of exemptions u/s 10…
Recently vide its Notification No. 36/2019 by the Income Tax Department has substantially modified the format of Part B of Form 16 (Salary TDS Certificate given to Employees) with effect from FY:18-19. Correspondingly, the information to be provided by the employer in Annexure II of Form 24Q-Q4 (Salary Details – providing tax computation of each…
Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government / Non-Government) of the deductor, PAN of the deductees and other particulars of deduction of…