TDS on Rent

The person (who is not considered as either being an Individual or HUF)  is then one who is responsible for paying rent which is liable to deduct tax at source. However, in case the aggregate of the amount of rent is either credited or is paid or is likely to be credited or is paid during the financial year exceeds [...]

By | April 7th, 2017|Categories: TDS|Comments Off on TDS on Rent

TDS on Professional fee

Section 194J of the  Income Tax Act of 1961, states that an individual should deduct TDS at the rate of 10% when the following payments are required to be  made to a resident, in a fiscal year (which is higher than Rs.30,000): Amount that is charged as professional services fee or Professional Services  implies to the services that are carried [...]

By | April 7th, 2017|Categories: TDS|Comments Off on TDS on Professional fee

TDS on payment of dividend

Section 194 of the Income Tax Act, 1961 deals with the deduction of tax at source on the payment of dividends by any domestic company. When an Indian company or a company which has made a  prescribed arrangement for the declaration and for the payment of dividends in India, who pays a dividend to its resident shareholders, the tax will [...]

By | April 7th, 2017|Categories: TDS|Comments Off on TDS on payment of dividend

Implications of non- compliance or non-payment of TDS

TDS or Tax Deducted at Source, is a means of indirect tax collection which is done by the Indian authorities according to the Income Tax Act, 1961. TDS is however managed by the Central Board of Direct taxes (CBDT), which comes under the Indian Revenue Services (IRS). TDS is however collected as a means in order to keep a stable revenue source [...]

By | April 6th, 2017|Categories: TDS|Comments Off on Implications of non- compliance or non-payment of TDS

Duty of person deducting TDS tax

The article will tell us some of the duties which a person who is deducting the TDS tax is required to follow: He is required to deduct tax at correct rate and should then deposit it in Government Account Every person who is responsible for deducting the tax at source, at the time of payment or of the credit of [...]

By | April 6th, 2017|Categories: TDS|Comments Off on Duty of person deducting TDS tax

7 Steps to File TDS Return in Mumbai

Look at that savvy new age, forever hungry, gender-bending Mumbai entrepreneur!!! She doesn’t need any busybody telling her how to fileTDS Return. Of course, she doesn’t. Why? You ask. Because, all that today’s hipster smarty pants, needs to file her TDS Return is the snazzy new LegalRaasta App. She logins to the app and voila her TDS Return is filed [...]

By | March 28th, 2017|Categories: TDS|Comments Off on 7 Steps to File TDS Return in Mumbai