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Income Tax NSDL TDS Traces

TDS Deduction on EPF Interest (New Rule)

Employee Provident Fund (EPF) was earlier not subject to tax and was tax-free in the hands of the employee. When a contribution was made, the employee could claim an income tax deduction under section 80C of the Income Tax Act, 1961 against such contribution up to INR 1.5 lakhs. Employee Provident Fund (EPF) was not […]

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Income Tax TCS TDS

TDS Returns Software for FY: 2024-25 Released

We are pleased to announce the release of TDSMAN (FY: 2024-25). Now you can prepare TDS Returns for all quarters of FY: 2023-24 and FY: 2024-25. It covers: All TDS/TCS Returns for FY: 2024-25 All TDS/TCS Returns for FY: 2023-24 Pending TDS/TCS Returns of earlier years, if any Rectification of TDS Defaults Multi-User Options Editions: […]

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CBDT Income Tax PAN TCS TDS

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 goods purchased Aggregate value of goods purchased exceeds Rs.50L in the previous year Deduction by Whom? Tax shall be deducted by the buyer whose total […]

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TCS certificates TCS payment TCS return TDS TDS payment TDS return TDSMAN Software

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 of Financial Year 2023-2024 *Please ensure timely compliance to avoid interest and/or penalties Use TDSMAN Software to file seamless & error-free TDS/TCS returns, without any […]

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FVU Income Tax TAN TCS return TDS

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 to be downloaded from the portal and is supposed to be used at the time of generating the FVU file through the File Validation Utility. […]

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Aadhaar Income Tax PAN TDS

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 was extended quite a few times. However, on and from 1st July 2023, all unlinked PAN with Aadhaar has been marked as ‘Inoperative’ with the […]

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