TDS / TCS Compliances Reminder for April & May 2025
7th April 2025 – Due date for TCS payment for collections during March 2025 30th April 2025 – Due date for TDS payment for deductions during March 2025 7th May… Read more »
Category: PAN
Section 80CCH – Tax Benefits for Agniveers under the Agnipath Scheme
The Finance Act, 2023 introduced Section 80CCH into the Income Tax Act, 1961, providing specific tax deductions and exemptions for individuals enrolled in the Agnipath Scheme. This provision offers fiscal… Read more »
TDS Exemption to Non-Residents on certain withdrawal from NSS
The Ministry of Finance, Dept. of Revenue has recently notified vide Notification No. 27/2025 dated 4th April 2025, that provides TDS exemption on certain withdrawals from the National Savings Scheme… Read more »
New File Validation Utilities (FVUs) Version 9.0 & 2.186 released on 1st April, 2025
The Income Tax Department has released a new version of the File Validation Utility (FVU) to validate TDS / TCS returns before submission. This update introduces several enhancements and changes,… Read more »
New Regime vs Old Regime – which is better?
In a nutshell and quite obvious, one should opt for the regime where the tax liability is lower. Determination of tax liability Following factors are involved to determine the tax… Read more »
Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021
Note: Effective FY: 2025-26, as per the Union Budget TCS on Sale of Goods has been withdrawn [Section 206(1H)]. Section 194Q – TDS on Purchase of Goods limits the scope… Read more »