Dividend Distribution Tax

By |2021-10-27T07:24:34+00:00October 27th, 2021|Categories: Taxation|Tags: , , , , |

The Dividend Distribution Tax (DDT) is a tax levied on total dividends distributed by domestic corporations to their shareholders. The amount of DDT payable shall be determined according to the number of shares held by each shareholder and whether or not such shares are listed or unlisted. For listed shares, if a shareholder disposes of its [...]

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Section 194N: TDS on cash withdrawals

By |2021-10-09T06:44:58+00:00October 7th, 2021|Categories: Taxation|

For taxpayers who have not completed their income tax returns for the previous three years, the TDS  threshold limit has been cut to Rs 20 lakh in Budget 2020. Taxpayers who withdraw money in excess of Rs 20 lakh must pay a TDS of 2%.To discourage cash payments, the Union Budget 2019 introduced Section 194N, which [...]

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Form 12B: A Complete Guide

By |2021-10-09T05:48:09+00:00October 5th, 2021|Categories: Taxation|Tags: , , , , , , , , , |

For the most part, people need to finish a few formalities when choosing to join another organization in a financial year. On a very basic level, such formalities incorporate the issuance and accommodation of different forms like Form 12B of Income Tax and archives to smooth out the whole cycle. Gone are the days when you [...]

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Which Tax Regime to Choose for Individual: Old or New?

By |2021-04-15T10:27:52+00:00April 15th, 2021|Categories: Taxation|Tags: , , , , , , , |

The CBDT (Central Board of Direct Taxes), through a circular dated April 13, 2020, announced that employers will have to deduct TDS from salary for FY2020-21 as per the tax regime – new or old – selected by the employee. If an employee wants to get his salary deducted through the new tax regime, then he/she [...]

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