Guide to TDS Return Filing in India

Guide to TDS Return Filing in India TDS return filing, an integral part of the tax system, involves reporting and submitting details of tax deductions made at the source. It ensures smooth tax collection and helps individuals comply with tax…

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.…