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 [...]

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 [...]

Section 194H: TDS on Commission Income

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

As per Section 194H of the Income Tax Act, TDS on commission income is required to be deducted by every person who is making the payment of such commission or brokerage. Deductor For the purposes of section 194H, a deductor is a person who is making the payment in the form of commission or brokerage to [...]

Section 197: TDS Exemption Certificate

By | July 17th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

Introduction Section 197 of the Income Tax Act, 1961 provides for the facility of NIL or Lower tax rate deduction of TDS (or TDS exemption). This section strikes a delicate balance between the requirement of cash flow to the taxpayer and realizing the government dues at the earliest. We all know that, TDS is a method of [...]

Section 194C: TDS on Payment of Contractor

By | July 15th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

TDS on contract is required to be deducted at the time of making any payment by the person who is making the payment for the contract. Under the Section 194C of Income tax which deals with any TDS on payment of contractor & Sub-Contractor. Section 194C: TDS on Contract If any individual is liable for paying [...]

TDS Rates for A.Y. 2018-19

By | July 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 | July 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 [...]

Section 192: TDS on Salary Income

By | July 12th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

Tax Deduction at Source (TDS) or TDS on Salary is mandatory for employers in India paying salaries to employees on which income tax is applicable. For any income chargeable under the “Salaries” classification, the employer must deduct the applicable income-tax on the estimated income of the employee and deposit the same with the Government. In this article, we [...]