TDS Rates

TDS & TCS on Foreign Remittance – 10% & 20% (with example)

TCS of 20% is applicable on all foreign remittances made under the Liberalised Remittance Scheme after 1st Oct 2023. Earlier the rate of TCS was 5% but it has now been increased to 20% with effect from 1st Oct 2023....

in Income Tax

Budget 2017 and Budget 2019 have brought in certain amendments to the applicability of TDS on Rent and the rates at which TDS on Rent is to be deducted. Prior to this amendment, TDS was required to be deducted by...

in Personal Finance

When you have a lump-sum amount to invest, it is always advisable to invest in Fixed Deposits. But when you don’t have a lump-sum amount to invest, and can save a defined amount from your income every month, Recurring Deposits...

in Income Tax

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...

in Income Tax

At the time of making any payment, TDS is required to be deducted by the person making the payment. The rate of TDS depends on the nature of payment made and in this article; we would be focusing on Section...

in Income Tax

Form 16B is a TDS Certificate which reflects that the amount deducted as TDS on Property by the Buyer has been deposited with the Income Tax Department. At the time of sale of immovable property, the buyer is required to...

in Income Tax

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,...

in Income Tax

The interest that is earned on the Fixed Deposit is not tax free but is taxable. The tax on fixed deposit is levied as per the Income Tax Slabs of the person earning the interest. (Recommended Read:- Income Tax Slab Rates)...

in Income Tax

TDS Rate Chart for 2018-19 Section No. Payment for the purpose of TDS not required to be compulsarily deducted if payment expected to be made during the year is less than TDS Rate for Payment to 192 Salary Minimum amount not...

in Income Tax

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...

Read More