TDS Conso File – TRACES Portal

TDS Conso File - TRACES Portal Conso file download feature has been made available in TRACES from the Financial Year 2007-08. Basically, Conso file is a consolidated data of the TDS or TCS statement, both regular and correction, which is…

TDS Default – Revised Penalty & Prosecution Norms

TDS Default - Revised Penalty & Prosecution Norms The Central Board of Direct Taxes (CBDT), India has reworked specific norms that dictate the prosecution of tax defaulters. According to a circular released on September 9, the Ministry of Finance (MoF)…

Section 194M – TDS

Section 194M - TDS The 2019 budget has proposed a new¬† Section 194M in TDS, to deduct tax for the services availed from resident contractors or professionals by an individual or HUF. Section 194M will take effect from 1st¬†September 2019.…

TDS Challan Correction

OLTAS TDS Challan Correction The deductor, while depositing TDS through challan, is required to provide various information like PAN / TAN, relevant assessment year, appropriate major and minor head code, nature of payment and amount of TDS to be deposited.…