Category: TDS return

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 »

Section 194I: An Overview of TDS on Rent

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Section 194I of the Income Tax Act outlines the rules for deducting TDS on rent. This provision primarily applies to those paying rent for properties, machinery, or other assets, ensuring… Read more »

TDS / TCS Compliance Reminder for January 2025

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7th January 2025 – Due date for TDS/TCS payment for deductions/collections during December 2024 15th January 2025 – Due date of filing TCS Returns for Quarter 3 of Financial Year… Read more »

New File Validation Utilities (FVUs) Version 8.9 & 2.185 released on 27th December, 2024

The Income Tax Department has released a new version of the File Validation Utility (FVU) to validate TDS/TCS returns before submission. This update introduces several enhancements and changes, effective from… Read more »

Applicability of Lower TDS / TCS Extended on Purchase of Goods

Effective from 1st October 2024, issue of certificates under Section 197 (lower deduction / collection) has been extended to include Sections 194Q and 206C. This change is a landmark as… Read more »