The provisions relating to deduction of tax at source on benefits or perquisites arising from business or profession have been restructured under the Income-tax Act, 2025. The earlier Section 194R… Read more »
The Income Tax Department has released a new version of the File Validation Utility (FVU) to validate TDS / TCS returns before submission. This updated version would address the following:… Read more »
Section 461 of the Income Tax Act, 2025, outlines penalties related to the late filing, non-filing, or furnishing of incorrect information in Tax Deducted at Source (TDS) and Tax Collected… Read more »
The first quarter of Tax Year 2026-27 marked the beginning of compliance under the Income-tax Act, 2025. Being the first quarter under the new framework, taxpayers, software providers and the… Read more »
7th August 2026 – Due date for TDS payment for deductions during July 2026 7th August 2026 – Due date for TCS payment for collections during July 2026 15th August… Read more »
Timely filing of TDS and TCS statements is an essential compliance requirement under the Income-tax Act. Delay in furnishing such statements may result in levy of late filing fee, notices,… Read more »
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