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Tax deducted at source (TDS) implies the deduction of money before paying to the payee. There are some Dos and Don’ts for those who deduct the tax slabs such as TDS deductors, demand and statement filling closure, and depositors. One can avoid the late payment fees on interest amount by TDS depositors, as by filing […]
The Central Board of Direct Taxes (CBDT) has furnished relief to the assesses who obtained the tax demand notices for the reason that they deducted less TDS compared to the taxpayers whose PAN had become inoperative. Multiple TDS deductors and collectors, TCS respectively, had obtained the income tax demand notices requesting them to deposit the […]
The TDS Credit was permitted for the assessment year in which income is assessable by the Delhi bench of the Income Tax Appellate Tribunal (ITAT). In addition to operating and maintaining a nursing home, the assessee, Prakash Sunrise Healthcare Limited, has been providing medical treatment to different government workers, including military personnel, on behalf of […]
Simple Definition of File Validation Utility (FVU)? File Validation Utility, also known as the FVU facility, will allow you to validate your e-TDS/TCS return file. NSDL provides this utility as part of its services. The FVU verifies return files generated by deductors in accordance with prescribed formats. Using this utility, you can easily submit an […]
The assessee at various times would go through the income tax and the tax deducted at the source (TDS). there is a difference between the two. When it is a question of calculation these taxes procedure differs. Hence, prior to paying the tax returns, the same would be important for the salaried people to prevent […]
The Central Board of Direct Taxes (CBDT) has issued income tax circular number 10/2022. The department has reported the rules to comply to use the functionality made to simplify the compliance for tax deductors/collectors (TDS/TCS) as mandated under Section 206AB and Section 206CCA of the Income-tax Act, 1961 Finance Act, 2021 inserted two new sections […]
Every individual who comes under the income chargeable to tax is needed to furnish the ITR to declare their income along with the tax liabilities. But the income tax laws in India issue the collection or deduction of the tax at source (TDS/TCS) itself. The same gives the assurity about the regular flow of the […]
For late TDS issuance of the certificates by deductors including individual deductors, Budget 2022 has urged to increase the penalty. The decision taken by the budget is to increase the penalty of Rs 500 per day from Rs 100 per day. In the major times, the employers and financial institutions such as banks and others […]
In this article, we have listed the best TDS software in India according to the reviews and ratings by professionals. This software can reduce the tax burden of Indian CAs (Chartered Accountants) and professionals along with error-less preparation of TDS compliance. List of Top TDS Return Software for CA and Professionals As mentioned in the […]
