FVU 7.0 & FVU 2.166 released by NSDL
The Income Tax Department has released by today (2nd January, 2021), the following new File Validation Utilities: FVU version 7.0 – For statement pertaining to FY 2020-21 onwards FVU version… Read more »
Category: TDS
Key Features – File Validation Utility (FVU) version 7.0 & 2.166
File Validation Utility (FVU) version 7.0 1. Addition of Section code 194O for Form 26Q • 194O – TDS on e-Commerce transactions This section will be applicable for regular and… Read more »
TDS / TCS Compliances – Due date for FY:20-21 Q3
The due date for TDS/TCS payment for deductions/collections during Dec 2020, is 7’th Jan 2021 The due date to file TDS Returns for quarter 3 FY: 20-21 (Oct 2020 to Dec… Read more »
Points to remember regarding TDS statement
Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report… Read more »
Extension of due dates for TDS/TCS related compliances
Due dates for TDS/TCS related compliances were extended on 24.06.2020 by CBDT (Central Board of Direct Taxes). The chart attached below is giving the information regarding the Extension of Due… Read more »
TDS Under Section 194J
Under section 194J of the Income Tax Act 1961, is related to TDS deduction on fees for professional and technical services. Every person excluding and individual or a HUF, making… Read more »