Given below are some dos and don’t 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…
The Income Tax Department has released today (2nd October, 2018), the following new File Validation Utilities: FVU version 5.9 – For statement pertaining to FY 2010-11 onwards FVU version 2.155 – For statement up to FY 2009-10 Click here to view the Key Features – File Validation Utility (FVU) version 5.9 & 2.155 TDSMAN has accordingly…
TDSMAN has been updated for the following newly released File Validation Utilities: FVU ver. 5.9 – For statement pertaining to FY 2010-11 onwards FVU ver. 2.155 – 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 5.9 & FVU 2.155
Integration of new Encryption certificate into File Validation Utility (FVU) Renewed Encryption certificate with extended validity has been integrated in FVUs. This version of FVU 5.9 & 2.155 are applicable with effect from October 02, 2018.
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…
Given below are some dos and don’t 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…
Please note the TDS/TCS Compliance dates for July 2018 as under: 7th July – last date for TDS payment for deductions during June 7th July – last date for TCS payment for collections during June 15th July – last date of filing TCS Returns for FY:18-19, Quarter 1 (Apr-Jun) 31st July – last date of filing TDS Returns for…
TDSMAN has been updated for the following newly released File Validation Utilities: FVU ver. 5.8 – For statement pertaining to FY 2010-11 onwards FVU ver. 2.154 – 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 5.8 & FVU 2.154
File Validation Utility (FVU) version 5.8 A new column for “Deduction under Section 16 (ia)” is added under Annexure II (i.e. Salary details) for Form 24Q-Q4 : The above referred deduction is applicable for Regular and Correction statements for Form 24Q-Q4. Deduction under Section 16 (ia) will be applicable for statements pertaining to F.Y. 2018-19…
Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit) : Default/ Failure Section Nature of Demand Quantum of demand or penalty Failure to deduct tax at source 201(1) Tax demand Equal to tax amount deductible but not deducted 201(1A) Interest @1 % p.m. of tax deductible 271C Penalty…