What is TRACES?
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… Read more »
Monthly Archives: October 2024
What are the consequences of TDS defaults and non-payment to government?
Failure to deduct tax, deducting less tax, delay in payment of the deducted tax to the Government, makes the deductor an assessee liable to penalty, which is equal to the… Read more »
New File Validation Utilities (FVUs) Version 8.8 & 2.184 released on 4th October, 2024
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… Read more »
TDS / TCS Compliance Reminder for October 2024
7th October 2024 – Due date for TDS / TCS payment for deductions/collections during September 2024 15th October 2024 – Due date of filing TCS Return for Quarter 2 of Financial Year 2024-2025 30th October 2024 –… Read more »