Finance : Navigate TDS rates and compliances for FY 2023-24 onwards. Learn about TDS payment due dates, late fees, interest, penalty, prosec...
Income Tax : Stay compliant with TDS regulations. Learn about the TDS rate chart for various payments under the Income Tax Act to ensure accura...
Income Tax : In this article, various TDS rates applicable for FY 2021-2022 (AY 2022-2023) i.e. for the period from 01.04.2021 to 31.03.2022 ...
Income Tax : The Tax deducted at source (TDS) is covered under chapter XVII of the Income Tax Act, 1961. There are number of sections & subsect...
Income Tax : A correction TDS/TCS statement can be furnished multiple times to incorporate changes in the regular TDS/TCS statement whereas a r...
Corporate Law : Article explains TDS Rates for Financial year 2022-23 i.e. Assessment Year 2023-24 under Income Tax Act, 1961. Article contains TD...
Income Tax : Sub-section (1) of section 194C of the Income-tax Act provides for deduction of income-tax at source from any sum credited or paid...
Income Tax : Onora Hospitality Pvt. Ltd. Vs ACIT (Karnataka High Court) The issue under consideration is whether the prosecution of the petitio...
Income Tax : The commission earned by the non-resident agent who carried on the business of selling Indian goods outside India, cannot be said ...
Income Tax : Under Section 234E wef 1st of July 2012 deductor will be liable to pay by way of fee of Rs 200 per day till the failure to file T...
Income Tax : Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with...
Income Tax : Notification No. 46/2014-Income Tax (4) The certificate for no deduction of tax shall be valid only with regard to the person resp...
Income Tax : Circular No. 8/2013-Income Tax Provisions of TDS on Salary as applicable on Income from Salary for Financial year 2013-14 / Asses...
Income Tax : Notification No. 41/2010-Income Tax Time and mode of payment to Government account of tax deducted at source or tax paid under sub...
Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules, 1962 through TRACES- reg.
The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. Various TDS rates on various incomes have been prescribed under the Income-tax Act. This write up […]
TDS Rate Chart for the Financial Year (FY) -2019-2020 / TDS Rate Chart for the Assessment Year (AY) -2020-2021. Article Prescribes Nature of Payment on which TDS is deductible, Section under which TDS is deductible, Basic amount per annum on which TDS is not deductible, TDS rate if PAN is not deductible. TDS rates are […]
Onora Hospitality Pvt. Ltd. Vs ACIT (Karnataka High Court) The issue under consideration is whether the prosecution of the petitioners for the offence punishable under section 276B of the Income Tax Act could be sustained without determination of the liability of the petitioners under section 201 of the Act? In the given case, it was […]
To bring Uniformity and to give deductors sufficient time in filing of TDS Statement CBDT has vide Notification No. 30/2016 Dated: 29.04.2016 has revised due date for filing above referred TDS statements for Government and non-governemnt deductors wef 01.06.2016 to as follows :-
Employers need to deduct taxes from the salaries of their employees every month. To save these taxes, employees submit investment declarations through which they claim allowances and deductions. So, before deducting taxes, an employer computes the taxable income of his employees based on these declarations.
Download TDS RATE FOR A.Y 2018-19 / F.Y. 2017-18 in PDF Format TDS Rate chart applicable for Financial Year 2017-18 S.no Section Nature of Income Amout over which TDS to be deducted Rate of TDS If PAN is available If PAN is not available 1 192 Salary to be seen as per slab Average Rate […]
The commission earned by the non-resident agent who carried on the business of selling Indian goods outside India, cannot be said have deemed to be, income which has accrued and/or arisen in India & therefore no occasion to deduct tax at source in respect of the payment made to the non-resident agent arise & thus there is no liability to deduct TDS in such cases.
We can blame it on abbreviation , but TDS ( Tax Deducted at Source ) rhymes with TEDIOUS, as if reflecting the plight of Tax Payers and Tax practitioners. This is the most convenient way of collecting Income Tax by creating legal obligation on person making certain payments.
Notification No. 46/2014-Income Tax (4) The certificate for no deduction of tax shall be valid only with regard to the person responsible for deducting the tax and named therein. (5) The certificate referred to in sub-rule (4) shall be issued direct to the person responsible for deducting the tax under advice to the person who made an application for issue of such certificate.
