The Income Tax Department has released a new version of the File Validation Utility (FVU) to validate TDS / TCS returns before submission. This updated version would address the following:… Read more »
Section 461 of the Income Tax Act, 2025, outlines penalties related to the late filing, non-filing, or furnishing of incorrect information in Tax Deducted at Source (TDS) and Tax Collected… Read more »
The first quarter of Tax Year 2026-27 marked the beginning of compliance under the Income-tax Act, 2025. Being the first quarter under the new framework, taxpayers, software providers and the… Read more »
With the implementation of the Income-tax Act, 2025, the reporting framework for TDS on payments to non-residents has undergone changes. One important area is the mapping of the nature of… Read more »
Timely filing of TDS and TCS statements is an essential compliance requirement under the Income-tax Act. Delay in furnishing such statements may result in levy of late filing fee, notices,… Read more »
31st July – Due date of filing TDS Returns for Quarter 1 of Tax Year 2026-2027 31st July – Due date of filing TCS Returns for Quarter 1 of Tax… Read more »
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