Tax Deducted at Source (TDS) is a system introduced under the Income-tax Law for efficient and timely tax collection at the point where income is generated. Under this mechanism, tax is deducted by the payer from specified payments and remitted to the government on behalf of the payee. The objective is to ensure a steady inflow of revenue to the exchequer and to reduce tax evasion by collecting tax at the very source of income generation. TDS provisions are applicable to a wide range of transactions, including payments such as salaries, interest, commission, brokerage, professional or technical fees, royalties, and contractual payments. The person responsible for making such payments is required to deduct the prescribed amount of tax before disbursing the income and deposit it to the credit of the Central Government within the stipulated time. This system thus acts as an advance collection mechanism, ensuring tax liability is partially met throughout the year rather than in a lump sum at the time of filing returns.
For the financial year 2025–26 (assessment year 2026–27), TDS rates vary depending on the nature of payment, the residential status of the payee, and the category of taxpayer—individuals, Hindu Undivided Families (HUFs), companies, or non-residents. For residents, TDS on salary (Section 192) follows normal slab rates, while interest on securities (Section 193), dividends (Section 194), and other similar payments generally attract 10%. Winnings from lotteries, horse races, and online games (Sections 194B, 194BB, 194BA) are subject to a 30% deduction. Contractual and professional payments (Sections 194C, 194J) are liable at 1–2% and 2–10% respectively, while rent (Section 194-I) ranges between 2–10% depending on the asset type. Certain specific provisions such as Section 194Q (purchase of goods) and Section 194O (e-commerce transactions) prescribe 0.1% TDS, whereas new provisions like Section 194T (effective from April 1, 2025) cover payments to partners of firms. For non-residents, higher rates apply to certain payments, including royalties, technical fees, and capital gains, generally ranging between 10% and 30%. In cases where the deductee fails to furnish a Permanent Account Number (PAN), Section 206AA mandates TDS at 20% or the applicable rate, whichever is higher. Additionally, payments to entities in notified jurisdictions under Section 94A(5) attract a minimum TDS rate of 30%. Collectively, these provisions ensure a structured and transparent mechanism of tax collection aligned with compliance requirements for all categories of taxpayers.
Q1. What is tax deducted at source?
For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation of income. This system is called as “Tax Deducted at Source”, commonly known as TDS. Under this system tax is deducted at the origin of the income. Tax is deducted by the payer and is remitted to the Government by the payer on behalf of the payee.
The provisions of deduction of tax at source are applicable to several payments such as salary, interest, commission, brokerage, professional fees, royalty, contract payments, etc. In respect of payments to which the TDS provisions apply, the payer has to deduct tax at source on the payments made by him and he has to deposit the tax deducted by him to the credit of the Government.
Q2.What are the payments covered under the TDS mechanism and the rates for deduction of tax at source?
Tax is deductible at source at the rates given in table (infra). If PAN of the deductee is not intimated to the deductor, tax will be deducted at source by virtue of section 206AA either at the rate given in the table or at the rate or rates in force or at the rate of 20 per cent, whichever is higher. Further, under section 94A(5), if payment or credit is made or given to a deductee who is located in a notified jurisdictional area, tax is deductible at the rate given in the table or at the rate of 30 per cent, whichever is higher. TDS rates for the financial year 2025-26 are as follows—
Rates for tax deduction at source*
[For Assessment year 2026-27]
| Particulars | TDS Rates (in %) |
| 1. In the case of a person other than a company | |
| 1.1 where the person is resident in India- | |
| Section 192: Payment of salary | Normal Slab Rate |
| Section 192A: Payment of accumulated balance of provident fund which is taxable in the hands of an employee. | 10 |
| Section 193: Interest on securities | |
| a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act; | 10 |
| b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; | 10 |
| c) any security of the Central or State Government;
[i.e. 8% Savings (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018, Floating Rate Savings Bonds, 2020 (Taxable) or any other notified security] |
10 |
| d) interest on any other security | 10 |
| Section 194: Income by way of dividend | 10 |
| Section 194A: Income by way of interest other than “Interest on securities” | 10 |
| Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort, or from gambling or betting of any form or nature whatsoever. | 30 |
| Section 194BA: Income by way of winnings from any online game | 30 |
| Section 194BB: Income by way of winnings from horse races | 30 |
| Section 194C: Payment to contractor/sub-contractor | |
| a) HUF/Individuals | 1 |
| b) Others | 2 |
| Section 194D: Insurance commission | 5 |
| Section 194DA: Payment in respect of life insurance policy
w.e.f. 1/9/2019, the tax shall be deducted on the amount of income comprised in insurance pay-out |
2 |
| Section 194EE: Payment in respect of deposit under National Savings scheme | 10 |
| Section 194F: Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India
Note: The provisions of this section are not applicable with effect from 01-10-2024 |
20 |
| Section 194G: Commission, etc., on sale of lottery tickets | 2 |
| Section 194H: Commission or brokerage | 2 |
| Section 194-I: Rent | |
| a) Plant & Machinery | 2 |
| b) Land or building or furniture or fitting | 10 |
| Section 194-IA: Payment on transfer of certain immovable property other than agricultural land | 1 |
| Section 194-IB: Payment of rent by individual or HUF not liable to tax audit | 2 |
| Section 194-IC: Payment of monetary consideration under Joint Development Agreements | 10 |
| Section 194J: Fees for professional or technical services:
i) sum paid or payable towards fees for technical services ii) sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films; iii) Any other sum Note: With effect from June 1, 2017 the rate of TDS would be 2% in case of payee engaged in business of operation of call center. |
2
2 10 |
| Section 194K: Income in respect of units payable to resident person | 10 |
| Section 194LA: Payment of compensation on acquisition of certain immovable property | 10 |
| Section 194LBA(1): Business trust shall deduct tax while distributing, any interest received or receivable by it from a SPV or any income received from renting or leasing or letting out any real estate asset owned directly by it, to its unit holders. | 10 |
| Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] | 10 |
| Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section 115TCA) | 10 |
| Section 194M: Payment of commission (not being insurance commission), brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.
Tax shall be deducted under Section 194M with effect from 1/09/2019 when aggregate of sum credited or paid during a financial year exceeds Rs. 50 lakh. |
5 (till 30-09-2024)2 (w.e.f 01-10-2024) |
| Section 194N: Cash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office:
i) in excess of Rs. 1 crore# ii) in excess of Rs. 20 lakhs* * for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired. The deduction of tax under this situation shall be at the rate of: a) 2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year; or b) 5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year. # The threshold limit of Rs. 1 crore is increased to Rs. 3 crores if the withdrawal of cash is made by co-operative society. |
2
2/5 |
| Section 194-O: Payment or credit of amount by the e-commerce operator to e-commerce participant | 0.1 |
| Section 194P: Deduction of tax by specified bank in case of senior citizen having age of 75 or more | Tax on total income as per rate in force |
| Section 194Q: Payment for purchase of goods of the aggregate value exceeding Rs. 50 lakhs
Note: TDS is deductible on sum exceeding Rs. 50 lakhs |
0.1 |
| Section 194R: Deduction of tax in case any benefit or perquisite is provided and aggregate value of such benefit/perquisite exceeds Rs. 20,000
Note: Benefit or perquisite should be arising from business or the exercise of a profession by such resident. |
10 |
| Section 194S: Payment on transfer of Virtual Digital Asset
Note: No tax shall be deducted under this provision in the following circumstance:
Specified person means: (a) An individual or a HUF, whose total sales, gross receipts or turnover does not exceed Rs. 1 crore in case of business or Rs. 50 lakhs in case of a profession, during the financial year immediately preceding the financial year in which virtual digital asset is transferred; (b) An individual or a HUF who does not have any income under the head profits and gains of business or profession. |
1 |
| Section 194T: Payments of any sum in the nature of salary, remuneration, commission, bonus or interest to a partner of the firm.
Note: (1) This provision is effective from 01-04-2025 (2) No deduction if aggregate of such sum paid/payable does not exceed Rs. 20,000 during the financial year. |
10 |
| Any Other Income | 10 |
| 1.2 where the person is not resident in India*- | |
| Section 192: Payment of Salary | Normal Slab Rate |
| Section 192A: Payment of accumulated balance of provident fund which is taxable in the hands of an employee. | 10 |
| Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort or from gambling or betting of any form or nature whatsoever. | 30 |
| Section 194BA: Income by way of winnings from any online game | 30 |
| Section 194BB: Income by way of winnings from horse races | 30 |
| Section 194E: Payment to non-resident sportsmen/sports association | 20 |
| Section 194EE: Payment in respect of deposits under National Savings Scheme | 10 |
| Section 194F:Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India
Note: The provisions of this section are not applicable with effect from 01-10-2024 |
20 |
| Section 194G: Commission, etc., on sale of lottery tickets | 2 |
| Section 194LB: Payment of interest on infrastructure debt fund | 5 |
| Sec. 194LBA(2): Payment of the nature referred to in Section 10(23FC)(a) | 5 |
| Section 194LBA(2): Payment of the nature referred to in Section 10(23FC)(b) | 10 |
| Section 194LBA(3): Payment of the nature referred to in section 10(23FCA) by business trust to unit holders | 30 |
| Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]. | 30 |
| Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section 115TCA) | 10 |
| Section 194LC: Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond) | 5 or 4* or 9**
* In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC ** Where money borrowed from a source outside India by issuing a long-term bond or rupee-denominated bond on or after 01-04-2023, which is listed only on a recognised stock exchange located in an IFSC |
| Section 194LD: Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor | 5 |
| Section 194N: Cash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office: | |
| i) in excess of Rs. 1 crore | 2 |
| ii) in excess of Rs. 20 lakhs* | 2/5 |
| * for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired. The deduction of tax under this situation shall be at the rate of:
a) 2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year; or b) 5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year. |
|
| Section 194T: Payments of any sum in the nature of salary, remuneration, commission, bonus or interest to a partner of the firm. | 10 |
| Note: | |
| (1) This provision is effective from 01-04-2025 | |
| (2) No deduction if aggregate of such sum paid/payable does not exceed Rs. 20,000 during the financial year. | |
| Section 195: Payment of any other sum to a Non-resident | |
| a) Income in respect of investment made by a Non-resident Indian Citizen | 20 |
| b) Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen, in respect of transfer which takes place: | 12.5 |
| c) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112, in respect of transfer which takes place: | 12.5 |
| d) Income by way of long-term capital gains as referred to in Section 112A exceeding Rs. 1,25,000 in respect of transfer which takes place: | 12.5 |
| e) Income by way of short-term capital gains referred to in Section 111A in respect of transfer which takes place: | 20 |
| f) Any other income by way of long-term capital gains [not being long-term capital gains referred to in sections 10(33), 10(36)], in respect of transfer which takes place: | 12.5 |
| g) Income by way of dividend from a unit in International Financial Services Centre | 10 |
| h) Income by way of dividend [Other than (g)] | 20 |
| i) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC) | 20 |
| j) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India | 20 |
| k) Income by way of royalty [not being royalty of the nature referred to point h) above] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy | 20 |
| l) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy | 20 |
| m) Any other income | 30 |
| Section 196A: Income in respect of units of non-resident | 20 |
| Section 196B: Income from units referred to in section 115AB(1)(i) | 10 |
| Section 196B: Long-term capital gain on transfer of units referred to in section 115AB, in respect of transfer which takes place: | 10 12.5 |
| Section 196C: Income by way of interest or dividends in respect of bonds or GDR referred to in section 115AC | 12.5 |
| Section 196C: Long-term capital gain arising from transfer of bonds or GDR referred to in section 115AC, in respect of transfer which takes place: | 10 12.5 |
| Section 196D: Income of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities)
Note: Tax shall be deducted at the rate provided under DTAA if same is lower than the existing TDS rate of 20%. |
20 |
| Section 196D(1A): Income in respect of securities referred to in section 115AD(1)(a) payable to specified fund [referred to in clause (c) of Explanation to section 10(4D)] Note: Since recipient of income is a specified fund, surcharge & health and education cess shall be nil. |
10 |
| 2. In the case of a company- | |
| 2.1 where the company is a domestic company- | |
| Section 193: Interest on securities | |
| a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act; | 10 |
| b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; | 10 |
| c) any security of the Central or State Government;
[i.e. 8% Saving (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018, Floating Rate Savings Bonds, 2020 (Taxable) or any other notified security] |
10 |
| d) interest on any other security | 10 |
| Section 194: Dividend | 10 |
| Section 194A: Income by way of interest other than “Interest on securities” | 10 |
| Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort or from gambling or betting of any form or nature whatsoever. | 30 |
| Section 194BA: Income by way of winnings from any online game | 30 |
| Section 194BB: Income by way of winnings from horse races | 30 |
| Section 194C: Payment to contractor/sub-contractor | |
| a) HUF/Individuals | 1 |
| b) Others | 2 |
| Section 194D: Insurance commission | 10 |
| Section 194DA: Payment in respect of life insurance policy
w.e.f. 1/9/2019, the tax shall be deducted on the amount of income comprised in insurance pay-out |
2 |
| Section 194EE: Payment in respect of deposit under National Savings scheme | 10 |
| Section 194F: Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India
Note: The provisions of this section are not applicable with effect from 01-10-2024 |
20 |
| Section 194G: Commission, etc., on sale of lottery tickets | 2 |
| Section 194H: Commission or brokerage | 2 |
| Section 194-I: Rent | |
| a) Plant & Machinery | 2 |
| b) Land or building or furniture or fitting | 10 |
| Section 194-IA:Payment on transfer of certain immovable property other than agricultural land | 1 |
| Section 194-IC:Payment of monetary consideration under Joint Development Agreements | 10 |
| Section 194J: Fees for professional or technical services:
i) sum paid or payable towards fees for technical services ii) sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films; iii) Any other sum Note: With effect from June 1, 2017 the rate of TDS would be 2% in case of payee engaged in business of operation of call center. |
2
2 10 |
| Section 194K : Income in respect of units payable to resident person | 10 |
| Section 194LA: Payment of compensation on acquisition of certain immovable property | 10 |
| Section 194LBA(1): Business trust shall deduct tax while distributing, any interest received or receivable by it from a SPV or any income received from renting or leasing or letting out any real estate asset owned directly by it, to its unit holders. | 10 |
| Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] . | 10 |
| Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section 115TCA) | 10 |
| Section 194M: Payment of commission (not being insurance commission), brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.
Tax shall be deducted under Section 194M with effect from 1/09/2019 when aggregate of sum credited or paid during a financial year exceeds Rs. 50 lakh. |
2 |
| Section 194N: Cash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office:
i) in excess of Rs. 1 crore ii) in excess of Rs. 20 lakhs* * for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired. The deduction of tax under this situation shall be at the rate of: a) 2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs but not exceeding Rs. 1 crore during the previous year; or b) 5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year. |
2
2/5 |
| Section 194-O: Payment or credit of amount by the e-commerce operator to e-commerce participant | 0.1 |
| Section 194P: Deduction of tax by specified bank in case of senior citizen having age of 75 or more | Tax on total income as per rate in force |
| Section 194Q: Payment to resident for purchase of goods of the aggregate value exceeding Rs. 50 lakhs
Note: TDS is deductible on sum exceeding Rs. 50 lakhs |
0.1 |
| Section 194R: Deduction of tax in case any benefit or perquisite is provided and aggregate value of such benefit/perquisite exceeds Rs. 20,000
Note: Benefit or perquisite should be arising from business or the exercise of a profession by such resident. |
10 |
| Section 194S: Payment on transfer of Virtual Digital Asset
Note: No tax shall be deducted under this provision in the following circumstance:
Specified person means: (a) An individual or a HUF, whose total sales, gross receipts or turnover does not exceed Rs. 1 crore in case of business or Rs. 50 lakhs in case of a profession, during the financial year immediately preceding the financial year in which virtual digital asset is transferred; (b) An individual or a HUF who does not have any income under the head profits and gains of business or profession. |
1 |
| Any Other Income | 10 |
| 2.2 where the company is not a domestic company*- | |
| Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort or from gambling or betting of any form or nature whatsoever. | 30 |
| Section 194BA: Income by way of winnings from any online game | 30 |
| Section 194BB: Income by way of winnings from horse races | 30 |
| Section 194E: Payment to non-resident sports association | 20 |
| Section 194G: Commission, etc., on sale of lottery tickets | 2 |
| Section 194LB: Payment of interest on infrastructure debt fund | 5 |
| Section 194LBA(2): – Payment of the nature referred to in Section 10(23FC)(a) | 5 |
| Section 194LBA(2): Payment of the nature referred to in Section 10(23FC)(b) | 10 |
| Section 194LBA(3): Business trust shall deduct tax while distributing any income received from renting or leasing or letting out any real estate asset owned directly by it to its unit holders. | 35 |
| Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]. | 35 |
| Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section 115TCA) | 35 |
| Section 194LC: Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond) |
(Republished with amendments)
Please give your TDS return software information along with quotation.
I have purchased plot from a corporate for over Rs 50 lacs.The amount is to be paid in instalments. I deposited the TDs through e-filing for the first instalments clearly mentioning both instalments in 26 QB. to my strange the TDS is shown for the current instalment in form 16 B. T balance TDS is shown as Unutilized portion. I tried to go for corrections in the Traces site but the error is shown as ‘ Buyer PAN is mismatched Tax Applicability’. As the buyer is individual and the seller is corporate, the traces is showing as Corporate Tax. Earlier the form 16 B is also showing Tax Applicability as Corporate.
Would you please guide in resolving the issue.
For AY 2023-24 I have to file rectification in TDS. IT asks TDS deduction year in four digits ie 2022 or 2023 0r 2024. In this case what year is to be filled please
How we deduct TDS on partial advance payment if deductible and non deductible both transaction involved in advance payment?
I am working in a car finance company. If customer paid full EMI including interest and he is eligible for TDS under section 194A. He filed his return over and above the eligible TDS amount and claims full value filed to Government. Should I pay full amount basis 26 AS or can I pay only eligible TDS as per my repayment schedule
one of our textiles manufacturing company has paid to labour wages to single person of 500000 per month without deducting TDS.That person share the wages 10 to 15 members. whether TDS is applicable or not
In case of one of my relatives, employer did not deduct TDS from his salary for FY 2021-22 but deducted same from salary paid in April 2022, i.e. FY 2022-23. How to take credit because it is not appearing in Form 26AS also. Otherwise since his income is reflected in return, he will be required to pay tax unnecessarily for FY 2021-22 before filing return. Pl. suggest remedy.
if firm started september 2021 first year and tax audit firm confirm first year TDS return applicable. confirm
Income Tax Act made simple eh ??????
I am waiting for the section 194 ZZZZZZZZZZZZZZZZZZZZZZZZZZABABACADEW
Sir
TDS of purchase of Immoveable property should be updated according to stamp duty rate also.
Thanks
Ours is a partnership firm. We have to pay rs.70000 per month as rent of the premises we are using to 5 co-owners of the building. These 5 co-owners being a family have opened up a joint account with the bank and asked us to deposit the amount in that account without deducting tds, as each share is around ₹ 15000/-. Is it legally okay to do so or should we deposit in each co-owners bank account seperately ?
An Company has two TAN for different work location. The Company booked expenses after TDS in one location and transferred that TDS liability to its another work location for deposit the same. The TDS liability was deposited under another location TAN of the company. Is there any default or penalty?
We have purchased/installed Solar Power Plant at the factory after 01.07.2021, please advise, for which rate do we have to deduct TDS under U/s 194Q for purchase or U/s 194C Works Contract?
Can I file TDS return with old PRN number, because latest PRN not available.. due to some new income tax site problem
I want to know in 194Q TDS will be applicable inclusive of GST or exclusive of GST.
in an agreement , there is clause of rebate for early payment. The services receiver on receiving the bill creates provision for TDS on the same day or within the period of rebate days. Can receiver claim the rebate on that TDS amount from service provider. Please Comment
Will tax be deducted at source on interest of TBI Floating rate savings bond. How to submit Form 15 H
Pls inform
whether the Covid 19 hospital expenditure deduct any Section under Income Tax Act and how much amount
If a property is owned by 3 brothers ,A is owner of 50% B is owner of 25% and C owner of rest of 25%.property is sold for 1,1650000/- . C is a NRI what will be the TDS computation for 3 brothers .
I have received LDC (Lower deduction certificate) from Make my trip for the F.Y 2019-20 but amount of commission paid is excess to the given criteria and i deduct TDS on normal rate. Should i deduct TDS on lower rate for given criteria then after that TDS deduct on normal rate or TDS deduct on whole amount on normal rate. Kindly suggest.
Thank you
My owner shifted out of India in Jan 20. Now from apr20 onwards I was depositing rent in his account without deducting tds as I was not aware that he is going to stay for longer duration so he will be NRI. Now his plan is for longer period. Pls suggest how to go about it now . Do I need to pay any penalty or interest. Also due to lockdown TAN creation is also taking time.
Pls suggest on following
1: can I deduct tds on half year rent and pay it at once at the end of sep20 , by that time I hope I will get tan also.
2. What all documents are required to pay tds and then file tds return
My relative could not submit Form 15 H due to lock down with the bank. TDS deducted on 15th july 2020. On same date she submitted Form 15H and requested the bank to refund the amount as it is lying with them and to be deposited in Government A/c by 7/08/2020..her total income is below Rs.3 lac and she do not file return. Can bank refund the amount.