Now pay TDS on Online Gaming
Online poker, rummy and other online games offering real money are seeing real-time growth in the last few years. The online gaming industry witnessed massive growth in the last 10… Read more »
TDS Applicability U/S 194Q On Purchased Goods
In the Finance Act of 2021, the Indian government inserted Section 194Q. The Indian government’s intention behind enacting this law was to generate a trail of high-value purchases and sales… Read more »
New FVUs Version 8.1 & 2.177 released by NSDL on 4th May, 2023
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of this FVU is summarized as under: FVU Version 8.1… Read more »
TDS / TCS at Higher Rates for Non-filers of Income Tax Return
Note: Effective FY: 2025-26, as per the Union Budget, removal of Higher TDS/TCS Rates for Non-Filers [Section: 206AB & 206CCA]. The government of India has been implementing measures to curb… Read more »
TRACES – e-verification Scheme
TRACES over email Ref. No. – 02/2023, dated 16/01/2023, has explained to deductors about the e-verification Scheme. The content & the communication is as under: Income Tax Department relies on… Read more »
Key TDS & TCS Amendments in Budget 2023
The finance minister in her 2023 budget announced, that the intention of government is to maintain continuity as well as simplify taxation and reduce the burden of compliance for the… Read more »