Section 194Q – TDS on Purchase of Goods
Applicability: This shall be effective 1st July’21 TDS Rate: 0.1% on amount exceeding Rs 50L 5% if PAN is not furnished When to Deduct? Assessee deducts while paying for the… Read more »
Monthly Archives: January 2024
TDS / TCS Compliance Reminder for January 2024
30th January 2024 – Due date of issuing TCS certificates for Quarter 3 of Financial Year 2023-2024 31st January 2024 – Due date of filing TDS Returns for Quarter 3… Read more »
CSI Download – Options through the Income Tax Portal
CSI file is provided by the Income Tax Department through its web portal for validating the Payment Challans reported in the quarterly TDS / TCS Return. CSI File is mandatory… Read more »
Inoperative PAN – Reasons, Consequences and Remedies
For all new PAN issued as on 1st July 2017, CBDT made it mandatory for all individuals to link their PAN with the Aadhaar. The last date for taking action… Read more »
Significance of the ‘REMARKS’ in TDS Returns
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’… Read more »
Section 89(1) Relief on Salary Arrears and Salary in Advance
Relief is provided under section 89(1), if salary pertaining to another period is received in advance/ or in arrears during a financial year, leading to additional tax liability. What is… Read more »