7th February 2023 – Due date for TDS/TCS payment for deductions/collections during January 2023 15th February 2023 – Due date of issuing TDS Certificate for Quarter…
View More TDS / TCS Compliance Reminder for February 2023Category: Traces
Computation of Income from House Property- Deduction of Interest u/s 24(b)
Income like rent on house property, annual value of property “deemed” to be let out are considered as income from House Property and is taxable…
View More Computation of Income from House Property- Deduction of Interest u/s 24(b)Preparing Nil TDS Statement / Declaration
TRACES introduced NIL TDS Statement/Declaration of TDS from the FY 2014-15. This is applicable for Deductors who did not deduct any tax during the relevant…
View More Preparing Nil TDS Statement / DeclarationNew FVUs Version 8.0 & 2.176 released by NSDL on 4th January 2023
Owing to some technical issues in last released TDS / TCS File Validation Utility, new versions of File Validation Utility (FVUs) for e-TDS/TCS statements has…
View More New FVUs Version 8.0 & 2.176 released by NSDL on 4th January 2023Section 194LC: TDS on Income by way of Interest from an Indian Company or a Business Trust
Deductor- The Indian Company or a business trust paying interest income Deductee- A non-resident, not being a company, or to a foreign company Time of…
View More Section 194LC: TDS on Income by way of Interest from an Indian Company or a Business TrustTDS / TCS Compliance Reminder for January 2023
7th January 2023 – Due date for TDS/TCS payment for deductions/collections during December 2022 15th January 2023 – Due date of filing TCS Return for Quarter 3 of Financial Year 2022-2023…
View More TDS / TCS Compliance Reminder for January 2023Significance 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 ReturnsNew FVUs Version 7.9 & 2.175 – released by NSDL on 18th November, 2022
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements has been released on 18th November 2022 by the Income Tax Department. This new FVU…
View More New FVUs Version 7.9 & 2.175 – released by NSDL on 18th November, 2022Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021
Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the…
View More Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021Computation of Income from House Property- Deduction of Interest u/s 24(b)
Income like rent on house property, annual value of property “deemed” to be let out are considered as income from House Property and is taxable…
View More Computation of Income from House Property- Deduction of Interest u/s 24(b)