Monthly Archives: December 2019

TDSMAN updated with FVU ver. 6.5 & FVU ver. 2.161

      No Comments on TDSMAN updated with FVU ver. 6.5 & FVU ver. 2.161

TDSMAN has been updated for the following newly released File Validation Utilities: FVU ver. 6.5 – For statement pertaining to FY 2010-11 onwards FVU ver. 2.161 – For statement up to FY… Read more »

Key Features – File Validation Utility (FVU) version 6.5 & 2.161

File Validation Utility (FVU) version 6.5 Addition of new section code 194N (i.e. “Payment of certain amounts in cash”) for Form 27Q Same will be applicable for regular and correction… Read more »

FAQ on Online Correction

      No Comments on FAQ on Online Correction

What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the various facilities available through online… Read more »

Interest Liability for TCS Assessee-in-Default

      No Comments on Interest Liability for TCS Assessee-in-Default

A TAN holder who fails to collect whole or any part of the tax at source is treated as an assessee-in-default. But, as per provision in section 206C(6A) the TAN… Read more »

Budget 2019 – TDS on gross amount including incidental charges while purchasing of immovable property

Any person (buyer) who is liable to make payment while purchasing immovable property should deduct TDS mentioned u/s 194 – IA. If amount of ‘consideration’ payable for transfer of immovable… Read more »