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 |2019-02-28T11:02:15+00:00September 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 |2018-06-25T09:50:11+00:00July 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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Is TDS to be deducted on the amount of GST?

By |2017-07-29T11:07:34+00:00July 25th, 2017|Categories: TDS Laws|

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 [...]

TDS on interest of Fixed & Recurring Deposits

By |2017-07-19T06:05:18+00:00July 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 [...]

Best TDS Return Filing Software

By |2017-07-19T06:58:57+00:00July 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 [...]

Section 194I: TDS on Rent

By |2017-07-28T10:53:03+00:00July 18th, 2017|Categories: TDS Laws|

TDS on rent is covered under the Section 194I  of the Income Tax Act. This section was inserted because the government felt that income through rent should be covered under TDS Deduction. This article is about the aspects of TDS on Rent. Who has to deduct TDS on Rent? From June 1, 2017, Individuals and Hindu [...]

Form 26QB: TDS on Sale of Immovable Property

By |2017-08-21T06:23:51+00:00July 17th, 2017|Categories: Return Filing, Return Filing Forms, TDS|

Introduction From June 1st, 2013, when a buyer buys immovable property (not agricultural land) that costs more than Rs. 50lakhs, then the buyer will deduct the TDS while making payment to the seller under section Income Tax Act. For paying TDS, the seller will obtain Form 16B and Form 26QB for the buyer. Provisions The buyer will [...]

Foreign Tax Credit (FTC) and DTAA

By |2018-06-25T10:29:54+00:00July 15th, 2017|Categories: TDS, TDS Laws|

Introduction Foreign Tax Credit (FTC) is mentioned in Section 90 and Section 91 of Income Tax Act, 1961.  In India, taxability totally depends on the residential status and the source of income. Both Non-Resident (NR) and Not Ordinarily Resident (NOR) is taxed on the Indian sourced income. A Resident and Ordinarily Resident (ROR) are taxed on [...]

TDS Rates for A.Y. 2018-19

By |2017-07-28T10:18:02+00:00July 13th, 2017|Categories: TDS Rates|

Tax Deducted at Source (TDS) is a system of Indirect Tax Collection by Income Tax Department, where an individual is responsible for making specified payments such as salary, commission, professional fees, interest, rent, etc. is liable to deduct a certain percentage of tax before making payment in full to the receiver of the payment. There is a [...]

Section 194A: TDS on Interest earned on Deposits

By |2017-07-19T05:43:44+00:00July 13th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

Section- 194A Section 194A deals with a deduction of TDS on interest other than interest on securities like Interest on Fixed Deposits, Interest on Loans and Advances other than banks. Under section, 194A TDS is deducted only when payment is made to a resident person Payment made to a non-resident person then tax is to be [...]