The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub divided now into two sections, 194J(a) and 194J(b), effective from August 7 2020. u/s 194J(a) of the Income Tax Act, is related to TDS deduction on fees for Technical Services, and u/s 194J(b) of the Income Tax Act is related…
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 standard deduction rate. The ‘Remarks’ column in the TDS Return is used when; either higher or lower deduction is applicable. If standard rate is being used, the ‘Remarks’ column normally…
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 primarily related to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS): TDS/TCS Return Filing: Enables deductors and collectors to file their TDS and TCS returns electronically (Form…
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 standard deduction rate. The ‘Remarks’ column in the TDS Return is used when; either higher or lower deduction is applicable. If standard rate is being used, the ‘Remarks’ column normally…
The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub divided now into two sections, 194J(a) and 194J(b), effective from August 7 2020. u/s 194J(a) of the Income Tax Act, is related to TDS deduction on fees for Technical Services, and u/s 194J(b) of the Income Tax Act is related…
Ref: CBDT Circular No. 9 dated 28/06/2023 CBDT has extended the dates of filing for the TDS Return (Forms 26Q & 27Q only) and TCS Return (Form 27EQ) as per details below: (i) The TDS Return for the first quarter of the FY:2023-24 required to be furnished in Form No. 26Q or Form No. 27Q,…
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 standard deduction rate. The ‘Remarks’ column in the TDS Return is used when; either higher or lower deduction is applicable. If standard rate is being used, the ‘Remarks’ column normally…
Ref: CBDT Circular No. 9 dated 28/06/2023 CBDT has extended the dates of filing for the TDS Return (Forms 26Q & 27Q only) and TCS Return (Form 27EQ) as per details below: (i) The TDS Return for the first quarter of the FY:2023-24 required to be furnished in Form No. 26Q or Form No. 27Q,…
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 standard deduction rate. The ‘Remarks’ column in the TDS Return is used when; either higher or lower deduction is applicable. If standard rate is being used, the ‘Remarks’ column normally…
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 standard deduction rate. The ‘Remarks’ column in the TDS Return is used when; either higher or lower deduction is applicable. If standard rate is being used, the ‘Remarks’ column normally…