TDS Rates

TDS Return Filing Online: Due Date and Procedure for Filing

TDS Return Filing Online: Due Date and Procedure for Filing

TDS Return is required to be filed by the assessee who has deducted the TDS. TDS Returns are required to be filed after specified intervals and details to be furnished in these returns include fields like TAN No., TDS Payment, amount deducted, type of payment, PAN No. etc. Recommended Read: Procedure for deposit of TDS Payment online TDS Return Form ...

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Tax Collected at Source, TCS Rates in India

Tax Collected at Source, TCS Rates in India

Tax Collected at Source (TCS) is to be collected by the seller from the buyer at the time of sale of specified category of goods. The TCS Rate is different for each category of goods and the TCS so collected by the seller from the buyer is to be required to be deposited with the govt. The current TCS Rates ...

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Section 194J: TDS on Professional/ Technical Fees @ 10%

Section 194J: TDS on Professional/ Technical Fees @ 10%

As per Section 194J of the Income Tax Act, TDS is to be deducted @ 10% on any amount paid to any resident as:- Fees for professional services, or Fees for technical services, or Royalty, or Any sum referred in Section 28 (Discussed below) Exceptions to TDS Deduction under Section 194J No TDS should be deducted under section 194J if ...

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TDS on Service Tax to be deducted on all payments excl Rent

TDS on Service Tax to be deducted on all payments excl Rent

As per Indian Tax Laws, at the time of making any a payment, the receiver of service is required to do 2 things:- Pay Service Tax on the services received Deduct TDS on the payment made However a confusion which has arose is whether TDS on Service Tax is also liable to be deducted or TDS on service tax is ...

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Form 12B for furnishing TDS Details to new employer

Form 12B for furnishing TDS Details to new employer

Form 12B is required to be furnished as per Rule 26A by a person joining any organisation in the middle of the year and is a form for furnishing the details of income earned from the previous employer. It is a form required to be submitted by the new employee to the employer and requires details like Details of your ...

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Form 16 TDS Certificate & How to verify Form 16 online?

Form 16 TDS Certificate & How to verify Form 16 online?

Form 16 is a TDS Certificate issued by the employer deducting the TDS while making payment to an employee. As per the Income Tax Act, every employer at the time of payment of Salaries shall deduct TDS at the average rate of income tax computed on the basis of the Income Tax Slab Rates in force for that financial year ...

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What is TAN Number and How to apply for TAN No.

What is TAN Number and How to apply for TAN No.

TAN Number is a 10 Digit Alphanumeric Number and is used as an abbreviation for Tax Deduction and Collection Account Number.  Every Assessee liable to deduct TDS is required to apply for a TAN No. and shall quote this number in all TDS Returns, TDS Payments and any other communication regarding TDS with the Income Tax Department. As per Section ...

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TDS Payment Online: Procedure, Due Date & Interest on Late Payment

TDS Payment Online: Procedure, Due Date & Interest on Late Payment

TDS Payment is liable to be made by any assesse who has deducted TDS at the time of incurring any expenditure. The Due Date for TDS Payment is separate for Govt. and Non-Govt. assessee’s as mentioned below Due Date for TDS Payment in case of Govt. Assessee S. No. Particulars Due Date 1. Tax Deposited without Challan Same Day 2. ...

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TDS on Rent @ 10% (Section 194I)

TDS on Rent @ 10% (Section 194I)

TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 1,80,000 p.a. This limit of Rs. 1,80,000 p.a. is per taxpayer. So in case, there are 2 co-owners of an asset, this limit would apply for each co-owner i.e. TDS on Rent is liable ...

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