Key Features -File Validation Utility (FVU) version 5.2
Addition of new fields for Form 24Q-Q4 under Annexure ll (i.e. salary details) as below: Aggregate rent payment exceeds rupees one lakh during the previous year: – The above is… Read more »
Category: TCS
CBDT amends TDS and TCS related certain rules
Background Recently, the Central Board of Direct Taxes (CBDT) has issued a Notification amending Income-tax Rules, 1962 (the Rules) with respect to Tax Deducted at Source (TDS) and Tax Collected… Read more »
Advisory for taxpayers
Check your 26AS Tax credit statement regularly! 26AS statement contains tax credits available to taxpayer for claim in Income Tax Return along with information on refund, high value transactions and… Read more »
Frequently Asked Questions (FAQ) on Form 16/16A
What is Form 16 / 16A? It is the certificate of deduction of tax at source by any person in accordance with Chapter XVII-B of IT Act. Form 16 is issued… Read more »
Different matching statuses in Form 16 / Form 16A
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 »
Reasons to reject the correction in challan detail by TDS-CPC
Rejection reasons pertaining to challan details are as follows: Challan detail record on which correction has been filed does not exist in regular / previous statement In a correction statement,… Read more »