TDS and TCS under GST TDS and TCS provisions will be applicable under GST will be applicable from 1st October, 2018 with TCS rates declared at 1% of net taxable supplies.

The Central Board of Indirect Taxation and Customs (CBIC) announced TDS and TCS under GST to be applicable from the 1st of July, 2018. However, as a measure to give a relaxation period, CBIC extended the date to 1st October 2018. The board also declared the tax rates for net supplies. Read on to find out. Before, that for simplification [...]

By | September 24th, 2018|Categories: TCS, TDS, TDS Laws, TDS Rates|Tags: , , , |Comments Off on TDS and TCS under GST TDS and TCS provisions will be applicable under GST will be applicable from 1st October, 2018 with TCS rates declared at 1% of net taxable supplies.

Section 194IB: TDS on payment of rent by Individual or HUF

TDS on payment of rent by Individual or HUF is covered under the Section 194IB of the Income Tax Act. This section was inserted because the government felt that income through payment of rent by Individual or HUF should be covered under TDS Deduction. This article discusses all the aspects of TDS on payment of rent by Individual or HUF. Who [...]

By | July 28th, 2017|Categories: TDS Laws|Comments Off on Section 194IB: TDS on payment of rent by Individual or HUF

Is TDS to be deducted on the amount of GST?

TDS on GST amount is a matter of confusion as a confusion always arises as to whether TDS on GST is liable to be deducted or the TDS on GST is not liable to be deducted. The confusion about whether it is liable or not will be solved by this article. The Central Board of Direct Taxes (the Board) had [...]

By | July 25th, 2017|Categories: TDS Laws|0 Comments

TDS on interest of Fixed & Recurring Deposits

When we talk about TDS on interest then interest comes either from your savings account which is not eligible for TDS on FD/RD. RD is basically a kind of Fixed Deposits (FD) which deposited in the bank at regular installments as per the scheme. While FDs are for those who have a large sum to secure, RDs are good for those who [...]

By | July 19th, 2017|Categories: TDS, TDS Laws|0 Comments

Process to revise TDS returns

Introduction Once you have filed your TDS returns with NSDL, you might realize that there is an error in the returns. These errors can be because of various reasons like incorrect deductions or incorrect challan details or incorrect PAN details of a deductee. The revise TDS returns are necessary. To revise TDS returns, you will need to have the consolidated [...]

By | July 19th, 2017|Categories: TDS|0 Comments

Responsibility of TDS deductor

The article will tell us some of the duties of TDS deductor who is deducting the  tax and deposit to the government account is required to follow: Tds Deductor is required to deduct tax at correct rate and deposit it in Government Account Every person is responsible for deducting the tax at source, at the time of payment or of [...]

By | July 19th, 2017|Categories: Return Filing, TDS Certificate, TDS Laws, TDS Rates|0 Comments