What is TRACES?
TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online platform provided by the Income Tax Department of India. It facilitates the following services primarily related to Tax Deducted… Read more »
Category: TDS
TDS / TCS Certificates – Due Dates
The different types of TDS / TCS certificates need to be issued on time which is summarized in the table below: Form No. Certificate – Description Frequency Due Dates Form… Read more »
Important resources – Form 24Q-Q4 (TDS on Salary)
With the Old & New Regime option given to employees for computing the income tax, it has become a tricky proposition even for the employers. It is important for both… Read more »
TDS / TCS Compliances Reminder for May 2024
7th May 2024 – Due date for TDS / TCS payment for deductions/collections during April 2024 15th May 2024 – Due date of filing TCS Return for Quarter 4 of Financial Year 2023-2024 30th… Read more »
Relief for Tax Deductors / Collectors – for inoperative PANs
Vide Circular No. 6 / 2024 dated 23rd April 2024, relief has been provided for deduction / collection of tax at a higher rate for ‘Inoperative PANs’ as per an… Read more »
New Regime vs Old Regime – which is better?
In a nutshell and quite obvious, one should opt for the regime where the tax liability is lower. Determination of tax liability Following factors are involved to determine the tax… Read more »