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 »
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 »
There are 6 types of corrections namely C1, C2, C3, C4, C5, C9. The following table briefly talks about each correction type: Type Corrections in: C1 Deductor details: All details… 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 »
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 »
The CBDT has issued two notifications extending TDS relief to GIFT City’s International Financial Services Centre (IFSC) – this time targeting the aviation and shipping leasing sectors. Both notifications, dated… Read more »
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