Key Features of File Validation Utility (FVU) version 2.142
Quoting of PAN of responsible person for deducting/ collecting tax. This version of FVU will be applicable with effect from April 21, 2015.
Category: TCS
Key Features of File Validation Utility (FVU) version 4.6
Quoting of PAN of responsible person for deducting/ collecting tax. Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e.,through transfer voucher. Quoting of BIN… Read more »
Payment of taxes – Do’s & Dont’s
Taxpayers, deductors or collectors can pay direct taxes through Authorised Bank branches either physically, through ATM or through internet. Type of Challans to be used for tax payments Challan Description… Read more »
TDS Default Types & Tips to avoid it
One can avoid defaults in the TDS statements, by way of adherence to the following basic principles: Timely Payment of total taxes deducted/ collected Correct Reporting with regard to… Read more »
TDS/TCS Rates Chart for F.Y. 2015-16
The TDS and TCS rates chart for the financial year 2015-16 has been given below: TDS rates for F.Y. 2015-16 Nature of Payment Made To Residents Cutoff (Rs.) Company / Firm… Read more »
Changes in Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) in Budget 2015
Several amendments have been proposed in the sections dealing with the deduction of tax at source. 1. Requirement for obtaining evidence/ particulars by employer for TDS-Section 192 1.1 Currently, the… Read more »