No TDS on Payments to GIFT City IFSC Units
The Central Board of Direct Taxes (CBDT) has issued a fresh notification – Notification No. 80/2026, dated 10th July 2026 – that removes the requirement to deduct TDS on several… Read more »
Category: CBDT
New File Validation Utility (FVU) Version 1.1 Released on 8th July, 2026
New version of File Validation Utility (FVU) for e-TDS/TCS statements is released by the Income Tax Department. FVU Version 1.1 – Applicable for quarterly TDS/TCS statements pertaining to TY 2026-27… Read more »
TDS / TCS Compliances Reminder for July 2026
7th July 2026 – Due date for TDS / TCS payment for deductions / collections during June 2026 31st July 2026 – Due date of filing TDS & TCS Return for Quarter 1 of Tax… Read more »
Consequences of TDS defaults
Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit) : Default/ Failure New Section (IT Act 2025) Old Section Nature of Demand Quantum… Read more »
Healthy Practices for Error Free TDS Returns
Preparing TDS Returns is a simple process and usually does not require any external assistance. However, it is well advised to follow few practices that ensure the correctness of your… Read more »
Interest on Late Payment of TDS
In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every… Read more »