Daily Archives: July 4, 2025

New File Validation Utilities (FVUs) Version 9.2 & 2.188 released on 4th July, 2025

      No Comments on New File Validation Utilities (FVUs) Version 9.2 & 2.188 released on 4th July, 2025

The latest versions of the File Validation Utilities (FVUs) have been released. The key updates are summarized as under: 1. Omission of Existing Flags/Remarks Remark ‘U’ in Form 26Q, ‘J’… Read more »

Section 206C(1) of the Income Tax Act: Tax Collection at Source (TCS)

      No Comments on Section 206C(1) of the Income Tax Act: Tax Collection at Source (TCS)

Section 206C(1) of the Income Tax Act, 1961 mandates the collection of tax at source (TCS) by sellers related to specific goods. It applies at the time of debiting the… Read more »