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 »
Category: TAN
TDS / TCS Compliances Reminder for April & May 2026
7th April 2026 – Due date for TCS payment for collections during March 2026 30th April 2026 – Due date for TDS payment for deductions during March 2026 7th May 2026 – Due… Read more »
New File Validation Utilities (FVUs) Version 9.4 & 2.190 released on 1st April, 2026
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 »
TDS / TCS Rate Chart Tax Year (FY: 2026-27)
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 »
Tax on Salary Income – Old Regime vs New Regime
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 »
TDS / TCS Compliance Simplified: Common Pitfalls and How to Avoid Them
Tax Deducted at Source (TDS) & Tax Collected at Source (TCS) compliance is a crucial responsibility for all deductors and collectors. While the process is straightforward, common mistakes can lead… Read more »