The Union Budget 2025-26 brings notable changes to tax deduction and collection processes, aimed at streamlining compliance and administrative procedures. These amendments focus on revising…
View More Key TDS / TCS proposed changes in Budget 2025-26Category: Traces
Section 192A- TDS on Payment of Accumulated PF Balance Due to an Employee
Section 192A of the Income Tax Act, 1961 deals with the TDS on premature withdrawal of accumulated balance from the Employees’ Provident Fund (EPF). This…
View More Section 192A- TDS on Payment of Accumulated PF Balance Due to an EmployeeSection 194 – TDS on Dividend
Dividend received by resident shareholders are now taxable as per the income tax slab rates. Sec 194 has gained prominence as TDS shall be deducted…
View More Section 194 – TDS on DividendWhat is TRACES?
TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online platform provided by the Income Tax Department of India. It facilitates the following services…
View More What is TRACES?TDS / TCS Compliance Reminder for August 2024
7th August 2024 – Due date for TDS / TCS payment for deductions / collections during July 2024 15th August 2024 – Due date for issuing TDS…
View More TDS / TCS Compliance Reminder for August 2024Significance of the ‘REMARKS’ in TDS Returns
For the different payment types, as per applicability, standard TDS rates are specified. Under certain provisions of the Act, there could be deviation from this…
View More Significance of the ‘REMARKS’ in TDS ReturnsAggregated TDS Compliance
The PAN of an entity (Central Office, Headquarter etc.), having more than one TAN for its branches, associated with the referenced PAN, can review the…
View More Aggregated TDS ComplianceFVU Errors – T_FV_6351 & T_FV_6354
While preparing the TDS Returns for Salary (Form 24Q – Quarter 4) pertaining to Financial Year 2023-24, many are facing challenges as they are encountering…
View More FVU Errors – T_FV_6351 & T_FV_6354What is TRACES?
TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online platform provided by the Income Tax Department of India. It facilitates the following services…
View More What is TRACES?TDS / TCS Certificates – Due Dates
The different types of TDS / TCS certificates need to be issued on time which is summarized in the table below: Form No. Certificate –…
View More TDS / TCS Certificates – Due Dates