Key features of FVU version 3.8
Change in data structure of quarterly TDS/TCS statement pertaining to FY 2013-14 onwards as below: Alternate contact details like e-mail and contact no. of the deductor and responsible person may… Read more »
Category: NSDL
Major changes announced for FVU 3.8 and onwards
The Income Tax Department through NSDL has released the latest File Validation Utility (FVU) Ver. 3.8 on 29/06/2013 which would be applicable from 01/07/2013. Both regular returns and correction statements… Read more »
New File Validation Utilities (FVU) released
The Income Tax Department has released the following new File Validation Utilities on 29th June 2013 which would be applicable from 1st July 2013: FVU Ver. 3.8-Applicable from FY: 2010-11… Read more »
Levy u/s 234E of the Income Tax Act, 1961 is a statutory levy and cannot be waived
If the deductor is charged penalty amount u/s 234E then this penalty has to be paid to the Income Tax Department using Challan No. 281, and this penalty cannot be… Read more »
Request for consolidated file temporarily suspended at TRACES
Consolidated file request functionality will not be available for deductors from 25th June,2013 to 7th July,2013 on TRACES.The functionality will be resumed from 8th July,2013 onwards as new TDS forms… Read more »
Penalty Chart under the Income Tax Act, 1961
Given below is the chart which shows section under which penalty can be imposed, nature of default and quantum of penalty. PENALTIES UNDER INCOME TAX ACT Section Nature of Default… Read more »