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…
The Income Tax Department has released on 12th May 2019, the following new File Validation Utilities: FVU version 6.2 – For statement pertaining to FY 2010-11 onwards FVU version 2.158 – For statement up to FY 2009-10 Click here to view the key features of FVU version 6.2 & FVU 2.158 TDSMAN will incorporate new…
File Validation Utility (FVU) version 6.2 Changes in FVU validations based on new changes in Annexure II (Salary Details) of Form 24Q-Q4 Validations related to new fields as per the Income Tax Department (ITD) Notification No. 36/2019 have been incorporated in this FVU version. These validations will be applicable for regular as well as correction…
Please note that 7th May, 2019 is the last date for TDS and TCS payments for the deductions made in April 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…
The Finance Act, 2015 had introduced a new section 192(2D) of the Income-tax Act, wherein the employer was obliged to collect the necessary evidence or proof in Form 12BB to allow any claim for any deduction and/or tax saving investments. One of the requirements in Form 12BB for claiming the interest on house property is…
TDSMAN has been updated for the following newly released File Validation Utilities: FVU ver. 6.1 – For statement pertaining to FY 2010-11 onwards FVU ver. 2.157 – For statement up to FY 2009-10 To update TDSMAN – Click on: Utilities – Update Software Click here to view the key features of FVU version 6.1 & FVU 2.157
The Income Tax Department has released today (12th April 2019), the following new File Validation Utilities: FVU version 6.1 – For statement pertaining to FY 2010-11 onwards FVU version 2.157 – For statement up to FY 2009-10 Click here to view the key features of FVU version 6.1 & FVU 2.157 TDSMAN will incorporate new…
File Validation Utility (FVU) version 6.1 Changes in field level validations for field “Deduction under section 16 (ia)” under Annexure II (Salary Details) of Form 24Q-Q4 In case section ID “16 (ia)” mentioned under field no. 6 of Section16 records (i.e. S16 records as per file format of Form 24Q-Q4), then “Total Deduction under Section…
Bengal Tea & Fabrics Ltd. Vs Dy. CIT (ITAT Kolkata) ITAT held that when no business operations of commission agent were carried on in India, commission earned by them would be outside the range of income considered to appear in India for the purpose of section 5(2)(b) read with section 9(1)(i) of Income Tax act,…