Section 194C: TDS on Payments to Contractors
Section 194C of the Income Tax Act governs the deduction of tax on payments made to contractors or subcontractors for carrying out any work, including…
View More Section 194C: TDS on Payments to ContractorsSection 194IB – TDS on payment of Rent by certain Individuals or HUF
As per Section 194IB, it is mandatory for persons such as individuals / HUF not liable to audit u/s 44AB to deduct tax for rent…
View More Section 194IB – TDS on payment of Rent by certain Individuals or HUFSection 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 EmployeeTDS / TCS Compliance Reminder for January 2025
7th January 2025 – Due date for TDS / TCS payment for deductions/collections during December 2024 15th January 2025 – Due date of filing TCS…
View More TDS / TCS Compliance Reminder for January 2025New File Validation Utilities (FVUs) Version 8.9 & 2.185 released on 27th December, 2024
The Income Tax Department has released a new version of the File Validation Utility (FVU) to validate TDS/TCS returns before submission. This update introduces several…
View More New File Validation Utilities (FVUs) Version 8.9 & 2.185 released on 27th December, 2024Section 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…
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Cabinet Committee Approves PAN 2.0: A New Era for Tax Management
Introduction to PAN 2.0 Project The Cabinet Committee on Economic Affairs (CCEA) has officially approved the long-anticipated PAN 2.0 project, as outlined in the press…
View More Cabinet Committee Approves PAN 2.0: A New Era for Tax ManagementPAN 2.0 Receives CCEA Approval
The Cabinet Committee on Economic Affairs (CCEA) has approved the much-awaited PAN 2.0 Project by the Income Tax Department, as announced in the press release…
View More PAN 2.0 Receives CCEA ApprovalSection 194N: Exemptions for Foreign and International Entities
The Central Government has provided a significant update in the recent notification vide number 123/2024 regarding the applicability of Section 194N of the Income-tax Act,…
View More Section 194N: Exemptions for Foreign and International EntitiesPoints to remember regarding TDS statement
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…
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