What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the various facilities available through online… Read more »
Starting from 1st April 2025, a significant change is being introduced regarding the filing of Correction Statements. Under the current provisions, taxpayers have the flexibility to file correction statements for… Read more »
As it seems evident, gradually the ‘Old Regime’ for computing income tax is being phased out, from FY:24-25, each tax payer has been placed in the ‘New Regime’ for taxation…. Read more »
Section 276B of the Income Tax Act, 1961, addresses the consequences for failing to remit Tax Deducted at Source (TDS) to the Central Government within the prescribed timeframe. This provision… Read more »
It has been observed that individuals working with digital platforms such as Uber, Ola, Rapido, Zomato, Swiggy, Blinkit, Zepto, Urban Company and many other online delivery partners sometimes register on… Read more »
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 »
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