Finance Bill 2021 introduced Section 206AB of the Income Tax Act which will take effect from 1st July 2021. It is a special provision for the deduction of tax at source at a higher rate for the non-filers (Specified Pe...

The latest version of the File Validation Utility (FVU), 7.1, is available. Accordingly, you can generate the Form 24Q text file in TallyPrime for the 4th quarter (January to March) for filing TDS returns....

Set Up Your Books For Tax Deducted at Source (TDS) You can enable the Tax Deducted at Source (TDS) feature in TallyPrime, provide surcharge details, and create the masters required to record transactions.   ...

Record TDS Transactions You can record the required TDS transactions as per your business needs. Account for Expenses and Deduct TDS Later ...

Generate TDS Reports You can generate and view a few MIS reports required for TDS.   Ledgers Without PAN While filing e-TDS returns, t...

Form 26Q Form 26Q is the Quarterly return of TDS in respect of all payments other than salaries. To save Form 26Q, you need to save the Form 26Q Return, recompute the corrected return, overwrite the corrected report, save th...

Form 27Q Form 27Q is a Quarterly return for deduction of tax in respect of payments made to non-residents other than salary.   View Form 27Q...

Validate and File TDS Returns The File Validation Utility (FVU) files are required to verify if the e-TDS return files generated by the deductors conform to the prescribed format....

Till date, TDS was deducted only on the notified nature of payments. From 1st July,2021, businesses are required to deduct TDS on purchase of goods along with the current scope of TDS deduction applicable on notified n...

Tax Deducted at Source (TDS) is a deduction made by an individual or a company during a payment. However, as per Finance Bill 2021, TDS has to be deducted even in case of purchase of goods, under provision 194Q. If you are a bu...