TDS Under Section 194J(a) & 194J(b)
The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub-divided now into two sections, 194J(a) and 194J(b), effective from 7th August 2020. u/s 194J(a) of… Read more »
Category: TCS
July – Pending TDS / TCS Compliances
30th July – Due date of issuing TCS certificate for Quarter 1 of Financial Year 2025-2026 31st July – Due date of filing TDS Returns for Quarter 1 of Financial… Read more »
Section 206C(1G): TCS on Foreign Remittances and Tour Packages
Section 206C(1G) of the Income Tax Act, 1961 mandates tax collection at source on specified foreign transactions. It applies when an authorized dealer receives funds for remittance under the Liberalized… Read more »
New File Validation Utilities (FVUs) Version 9.2 & 2.188 released on 4th July, 2025
The latest versions of the File Validation Utilities (FVUs) have been released. The key updates are summarized as under: 1. Omission of Existing Flags/Remarks Remark ‘U’ in Form 26Q, ‘J’… Read more »
Section 206C(1C) – TCS on Toll Plaza, Parking, etc
Section 206C(1C) of the Income Tax Act, 1961 mandates the collection of tax at source (TCS) by certain persons when they receive any amount as consideration for granting a lease,… Read more »
TDS / TCS Compliances Reminder for July 2025
7th July 2025 – Due date for TDS / TCS payment for deductions/collections during June 2025 15th July 2025 – Due date of filing TCS Return for Quarter 1 of Financial Year 2025-2026 30th July 2025 – Due… Read more »