Section 192A articles

TDS on EPF Balance Withdrawal

Provisions related to TDS on withdrawal from Employees Provident Fund Scheme, 1952 under section 192A No TDS on withdrawal from EPF in following cases Transfer of PF from one account to another PF account. Termination of service due to III health of member /discontinuation of Business by employer/completion of project/other cause beyond t...

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Posted Under: Income Tax |

Tax Deducted at Source (TDS): FAQs

1) Whether capitalization of interest payable attracts TDS U/S 194A? Whether conversion of out standing interest on loan into loan attracts TDS? Difference between Form-15G and Form-15H? Difference between TDS and TCS? What is due date for remittance of TDS certificates? (Form-16 and Form-16A)...

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Posted Under: Income Tax | ,

Income Tax Benefits to Residents & Indian Companies

A resident person is chargeable to tax in respect of his global income. If Income-tax Act enlarges the scope of taxable income of a resident person, it extends certain benefits and privileges to a resident person as well, inter-alia, an option to compute income on presumptive basis...

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Posted Under: Income Tax | ,

Income Tax Benefits for Individuals & HUFs for A.Y. 2020-21

Article disusses- Tax Rate and Relief available to Individual and HUF, Income Exempt from Tax of Individual and HUF, Deductions allowable from Taxable Income to Individual/ HUF, benefits available for Individual and HUF having Income from Business and Profession, ...

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Posted Under: Income Tax | ,

Income Tax benefits available to Small Businessmen for AY 2020-21

Article contain all benefit available to Small Businessmen for AY 2020-21 including provisions for Presumptive Taxation Scheme, Various deductions available from business profits, Maintenance of books of accounts and audit thereof, Exemptions and Deductions, Tax Deducted at Source and Advance Tax, Basic exemption limits, Concessional tax ...

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Posted Under: Income Tax |

Section 192A – TDS on Premature withdrawal from EPF

The Employees Provident Fund (EPF) is a saving scheme introduced, under the Employees Provident Fund and Miscellaneous Act, 1952, with an aim to promote savings which can be used post-retirement of an employee. Section 192A was inserted vide the Finance Act 2015 applying the tax deduction at source (TDS) provisions in case of the prematur...

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Posted Under: Income Tax |

TDS Rate Chart for Financial Year 2019-2020

Article covers Exhaustive TDS Rate Chart along with the threshold limit for the financial Year 2019-20 / Assessment Year 2020-21 after considering Amendment in TDS law proposed by Union Budget 2019.    Readers are requested to note that Chart is been further updated to remove Discrepancies in Section 194I. (At 13.00 PM) Relevant Sectio...

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Posted Under: Income Tax | ,

Income-tax rates for FY 2018-19 and For FY 2019-20 for TDS Deduction

I.Rates of income-tax in respect of income liable to tax for the assessment year 2019-20 (Financial Year 2018-19). In respect of income of all categories of assessees liable to tax for the assessment year 2019-20, the rates of income-tax have been specified in Part I of the First Schedule to the Bill. These are the […]...

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Posted Under: Income Tax |

Complete TDS Rate Chart Applicable From 1st April 2019

All TDS rate Chart (192 to 195) applicable from Financial year 2019-20 (AY 2019-20) for payments made to persons resident/ non resident in India (Individuals, Firms, Companies, etc.) along with threshold limit, applicability for resident or non resident, TDS rate, non deduction of TDS and point of time of deduction. Section Nature of Paym...

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Posted Under: Income Tax |

Know Your TDS Compliance Under Income Tax Act

What is TDS? TDS stands for Tax Deduction At Source. It means that when an Individual/Organization/persons making the specified payment which are mentioned under Income Tax Act, 1961 to another person than that Person (who is making the payment) has to deduct the TDS when the amount of the payment exceeds the threshold limit. Such [&helli...

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Posted Under: Income Tax |

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