206AB & 206CCA Compliance Check – Quick Guide

The Income Tax Department has activated the online system to determine the ‘Specified Person’ on whom the higher rate of TDS / TCS will be applicable under the newly introduced Sections 206AB & 206CCA. The Quick Reference Guide Version 1.0 (June 2021) has been uploaded. Click Here to view the PDF copy This has been […]

NSDL TCS TDS TDS certificates Traces

Section 194N – TDS on Cash Withdrawals

In an endeavor to reduce cash payments/withdrawals the Budget of 2019 introduced Section 194N; which states that TDS shall be deducted by the payer in case of cash withdrawal above a given threshold. Applicability: Applies in case of cash withdrawals of more than Rs 1 crore during a financial year. Applies to sum of money […]

Income Tax NSDL TCS TDS Traces

File Validation Utility (FVU) Version 7.3 – Summary

The Income Tax Department released FVU Version 7.2 on 1st October 2021. Owing to some technical issue, it released the revised FVU Version 7.3 effective from 13th October 2021 without any fundamental change. Over the last few months, there has been quite a few changes in the TDS / TCS that was announced. These changes […]

CBDT Income Tax NSDL TCS TDS TDS certificates

TDS / TCS Compliances for October 2021

7th October 2021 – Due date for TDS / TCS payment for deductions / collections during September 2021 15th October 2021 – Due date of filing  TCS Return for Quarter 2 of Financial Year 2021-2022 30th October 2021 – Due date of issuing TCS certificate for Quarter 2 of Financial Year 2021-2022 31st October 2021 – Due date of […]