For the different payment types, as per applicability, standard TDS rates are specified. Under certain provisions of the Act, there could be deviation from this standard deduction rate. The ‘Remarks’… Read more »
7th July 2024 – Due date for TDS / TCS payment for deductions/collections during June 2024 15th July 2024 – Due date of filing TCS Return for Quarter 1 of Financial Year 2024-2025 30th July 2024 –… Read more »
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of these FVUs are summarized as under: FVU Version 8.7 –… Read more »
The PAN of an entity (Central Office, Headquarter etc.), having more than one TAN for its branches, associated with the referenced PAN, can review the ‘Aggregated TDS Compliance’ report on… Read more »
While preparing the TDS Returns for Salary (Form 24Q – Quarter 4) pertaining to Financial Year 2023-24, many are facing challenges as they are encountering errors having code T_FV_6351 and… Read more »
Failure to deduct tax, deducting less tax, delay in payment of the deducted tax to the Government, makes the deductor an assessee liable to penalty, which is equal to the… Read more »