A TDS return is essentially an overview of all the TDS-related transactions that were carried out within a quarter. To put it another way, a TDS return is a quarterly statement of TDS that the deductor submits to the Income Tax Department. The Indian uses TDS (Tax Deducted at Source) as a method of tax collection […]
How to file online TDS return: A step-by-step guide
All individuals and businesses in India are required to pay income taxes. Income tax is a mandatory payment made on earnings from various sources during a fiscal year. The government’s tax revenue is spent in India on human capital, infrastructure development, defense, disaster management, and other public […]
According to the rules and regulations of Section 194J of the Income Tax Act, 1961, when certain payments are made to a specified resident, a person must deduct their Tax Deducted at Source (TDS) alone at the rate of 10%.
TDS (tax deduction at source) has shown to be a highly effective […]
The 2019 Budget suggested a number of modifications to the existing income tax legislation. This budget also included some new TDS Sections, such as Section 194M and Section 194N, in addition to other changes.
Everyone with taxable income is required to file an income tax return to declare their earnings and liabilities. In India, however, income tax regulations allow for the collection/deduction of tax at the source (TDS/TCS). On the one hand, this provides a steady flow of money to the government, while on the other, it keeps a close […]
According to Section 194I, rent is defined as a payment made under the terms of a lease , sublease, tenancy, or any other agreement to use – land, building, machinery, plant, equipment, furniture, furnishings, or land adjacent to a building. It doesn’t matter if the payee owns it or not. Subletting is also treated as a […]
