About Pulkit Jain

Pulkit Jain is the founder of LegalRaasta – India's top portal for registration, trademark, return filing and loans. Pulkit is a veteran CA with over 10+ of experience.

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.

By | September 24th, 2018|Categories: TCS, TDS, TDS Laws, TDS Rates|Tags: , , , |

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. [...]

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

By | July 28th, 2017|Categories: TDS Laws|

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 [...]

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TDS on interest of Fixed & Recurring Deposits

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

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 [...]

Process to revise TDS returns

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

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 [...]

Responsibility of TDS deductor

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

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 [...]

Implications for Non Compliance with TDS Provisions

By | July 18th, 2017|Categories: TDS Laws|

The non compliance with TDS provisions attracts different types of penalties if a person fails to deduct or pay TDS on the payment for which he was required to deducted TDS. TDS is required to be deducted in the specified cases as per the provisions of the Act. TDS is however collected as a means in order [...]

Section 194J: TDS on Professional Fee

By | July 18th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

Section 194J of the  Income Tax Act of 1961, states that An individual should deduct TDS on professional fees paid by him to a resident exceeding Rs. 30,000/- Deductor Deductor of TDS on professional fees is a person (other than individual or HUF who is not liable to audit under section 44AB) who is paying to resident: Fees [...]

Best TDS Return Filing Software

By | July 18th, 2017|Categories: TDS Software|

Introduction TDS (Tax Deducted at Source) is an indirect system of deduction of Tax by Indian authorities according to the Income Tax Act, 1961 at the point of generation of income tax. A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. It has details of TDS deducted [...]

TDS Payment Challan 281

By | July 18th, 2017|Categories: Return Filing|

TDS Payment Challan/Challan 281 is the challan for payment of TDS by companies as well as Individuals. TDS is the mechanism introduced by the government in which tax is deducted at source in the specified cases while making payment by the deductor at a specified rate and then it is payable to the Income Tax Department. Due date [...]