Following are some important facts to be adhered to, while submitting TDS statements, to avoid each type of Default: Late Payment Defaults: The taxes deducted must be deposited within the… Read more »
The income tax department is in the process of upgrading software applications. It is for information of PAN applicants that PAN allotment by Income Tax Department will remain suspended between… Read more »
In case of excess deduction of tax at source, claim of refund of such excess TDS can be made by the deductor. The excess amount is refundable as per procedure… Read more »
The Income Tax Department has released the following new File Validation Utilities: FVU version 4.8-For statement pertaining to FY 2010-11 onwards. FVU version 2.144-For statement pertaining to FY 2007-08 to… Read more »
1. Discontinuation of C9 Correction Statements: As directed by Income Tax Department (ITD), C9 correction i.e. addition of new Challans in Correction Statement(s) has been discontinued. 2. This version of FVU… Read more »
Given below are some relevant guidelines related to payment of TDS/ TCS liability: A. Central Government Account (Receipts and Payments) Rules, 1983: Date of Receipt for Cheques or Drafts: The… Read more »