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 |2020-09-10T04:37:44+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 |2020-09-14T12:30:41+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 [...]

Responsibility of TDS deductor

By |2020-03-16T09:28:18+00:00July 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 |2020-03-16T09:28:00+00:00July 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 [...]