In this updated version changes have an impact only in Form 27Q wherein new ‘Nature of Remittances’ has been included. This is applicable to FY: 2024-25 (Quarter 2) onwards. These additions are summarized as under: 196B – Long-Term Capital Gains arising from Transfer of units referred to in section 115AB codes of Nature of Remittance…
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of these FVUs are summarized as under: FVU Version 8.7 – Applicable for quarterly TDS/TCS statements pertaining to FY 2010-11 onwards. FVU Version 2.183 – Applicable for quarterly TDS/TCS statements from FY 2007-08 up to FY 2009-10….
In this updated version changes have an impact only in Form 24Q (Annexure II) where the tax computation of each employee needs to be reported as part of the TDS Return. This applies only in the for Quarter 4. These changes are summarized as under: From FY:23-24 onwards, by default all employees are placed in…
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of these FVUs are summarized as under: FVU Version 8.5 – Applicable for quarterly TDS/TCS statements pertaining to FY 2010-11 onwards. FVU Version 2.181 – Applicable for quarterly TDS/TCS statements from FY 2007-08 up to…
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of these FVUs are summarized as under: FVU Version 8.4 – Applicable for quarterly TDS/TCS statements pertaining to FY 2010-11 onwards. FVU Version 2.180 – Applicable for quarterly TDS/TCS statements from FY 2007-08 up to…
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…
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of these FVUs are summarized as under: FVU Version 8.3 – Applicable for quarterly TDS/TCS statements pertaining to FY 2010-11 onwards. FVU Version 2.179 – Applicable for quarterly TDS/TCS statements from FY 2007-08 up to…
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…
As informed by NSDL, due to some technical issues in the earlier File Validation Utility (Version 7.5 & 2.171), the updated FVUs (Version 7.6 & 2.172) have been released on 05/05/2022. Applicability: From May 5th, 2022, onwards Revised File Validation Utility versions are as below: • FVU Version 7.6 – Applicable for quarterly e-TDS/TCS statement…
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 to…