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 »
With the new Income-tax Act (applicable from tax year 2026–27), TDS / TCS provisions are consolidated into a few sections (mainly Section 393), with rates specified through tables. Each table… Read more »
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 »
Section 87A provides a tax rebate to resident individual taxpayers, reducing their income tax liability if their taxable income falls within a specified threshold. The rebate directly lowers the tax… Read more »
As it seems evident, gradually the ‘Old Regime’ for computing income tax is being phased out, from FY:24-25, each tax payer has been placed in the ‘New Regime’ for taxation…. Read more »
Following are different matching statuses in Form 16 / Form 16A: U-Unmatched (Deductor has not deposited taxes or has furnished incorrect particulars of tax payment. Final credit will be reflected… Read more »
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