Under Chapter XVII-B of the Act, a person is required to deduct tax on certain specified payments at the specified rates if the payment exceeds…
View More Changes in Provisions related to TDS – Budget 2014Tag: TDS Statements
CPC (TDS) communication: TDS Statements filed for Q 1, FY 2012-13, not filed yet for Q 1, FY 2013-14
CPC (TDS) has issued a communication to the deductors regarding TDS Statements filed for Q 1, FY 2012-13 but not yet filed for Q 1,…
View More CPC (TDS) communication: TDS Statements filed for Q 1, FY 2012-13, not filed yet for Q 1, FY 2013-14Invalid / Not Available PANs reported consistently while submitting TDS Statements – CPC(TDS)
CPC(TDS) has issued a reminder communication to all deductors regarding invalid/non available PANs. The issued communication has been given below: Dear Deductor, CPC(TDS) has observed from…
View More Invalid / Not Available PANs reported consistently while submitting TDS Statements – CPC(TDS)FAQ on Form 26AS
What is Form 26AS? It is a form issued under Rule 31AB, wherein the following information in relation to a PAN is published: TDS –…
View More FAQ on Form 26ASFlag raised for 15G/H despite Income exceeding the amount of exemption
CPC(TDS) has observed from its records that Flag “B” (for 15G/H Forms) has been wrongly raised in the quarterly TDS Statements. CPC(TDS) has issued a…
View More Flag raised for 15G/H despite Income exceeding the amount of exemptionTransaction Based Report for NRI deductees at TRACES
CPC(TDS) has introduced a new feature on TRACES for generating Transaction Based Report (TBR) in respect of deductees reported in 27Q TDS Statements. The report…
View More Transaction Based Report for NRI deductees at TRACESFiling of TDS statements increases upto 50% in May 2014
There has been a 50% increase in the filing of TDS statements in May 2014. Considering peak statement filing time, processing of statements might take…
View More Filing of TDS statements increases upto 50% in May 2014Tips to avoid defaults in TDS Statements
One can avoid defaults in the TDS statements, by way of adherence to the following basic principles: Timely Payment of total taxes deducted/ collected…
View More Tips to avoid defaults in TDS StatementsKey feature of FVU version 2.138
Nil challans in TDS/TCS Statements will be permitted with no deductee records for Form 24Q Q4: The validations with respect to Nil challan statements have…
View More Key feature of FVU version 2.138Online TDS Statement Correction without Digital Signature at TRACES
CPC (TDS) has provided new enhanced features, to further add to the convenience of online facility of filing corrections to the TDS Statements. With this…
View More Online TDS Statement Correction without Digital Signature at TRACES