TDS Rates Chart [A.Y.2018-19] [A.Y. 2017-18]

TDS Rates Charts A.Y.2018-19 / F.Y.2017-18 Click here for TDS Rates Chart – Resident of India (Individual /HUF) (Domestic Company) Click here for TDS Rates Chart – NRI (Individual/HUF) Click here for  TDS Rates Chart – NRI (Foreign Company) Click here for  TDS Rates Chart – NRI (co-operative society/firms) You can download complete TDS Rates … Read more

Section 193 – TDS from Interest on Securities – Quick Summary

TDS from Interest on Securities u/s 193 – Quick Summary Person Responsible to Deduct Tax Government/ Local/ authority/ statutory corporation company  Central Govt. in case of 8% (taxable saving bonds) Exemption Limit Exempt Categories monetary limit of Rs. 5,000 in case of listed or unlisted debenture; otherwise no minimum Rs. 10,000 in case of 8% … Read more

TDS on Salary: Easy Way to Calculate TDS on Salary

The most confusing concept in whole TDS is “TDS on Salary” as readers always asked questions about the topic. In this article, we will cover all the topics related TDS on salary like how to deduct TDS on salary, how to calculate tds on salary, deposit TDS, submission of statements, time of deduction, annual salary … Read more

Who is Liable to Deduct TDS for A.Y.2017-18

Any persons responsible for making specified payment (check here specified payment) as prescribed in income tax are liable to deduct tax at source.  The obligation to deduct tax at source is upon the person responsible for paying the income/amount which is subject to TDS. What is the rate of TDS? Its depends on the nature … Read more

Section 194H – TDS on Commission & Brokerage

A complete guide of section 194H – TDS on Commission and Brokerage for A.Y.2017-18. Who is Liable to Deduct TDS under section 194H? Any person who is liable to pay commission or brokerage shall deduct TDS. Here we will not talk about insurance commission. The TDS on insurance commission under section 194D has discussed here. … Read more

Section 194G – TDS on Commission on Sale of Lottery Tickets

A complete guide of Section 194G TDS on Commission etc. on sale of lottery tickets Who is Liable to Deduct TDS Under Section 194G? The persons who are paying any commission, remuneration or prize on lottery tickets to a person who has been stocking, distributing, purchasing or selling lottery tickets. What is TDS Rate under … Read more

Section 194EE – TDS on National Saving Scheme

A complete guide on Section 194EE- TDS from Payment in Respect of Deposit under National Saving Scheme etc The person responsible for paying to any person any amount standing to the credit of such person under National Saving Scheme (to which section 80CCA was applicable) together with interest accrued thereon, shall deduct income-tax thereon such … Read more

Section 194E – TDS from Payment to Non-resident Sportsman

Section 194E – TDS from Payment to Non-resident Sportsman or Entertainer or Sports Association: If you are responsible to pay any amount in the way of income to any non-resident sportsman (including an athlete) who is not a citizen of India, you are required to deduct tax at source @ 20% plus surcharge as applicable … Read more

Section 194D – TDS From Insurance Commission

194D – TDS from Insurance Commission – Quick Summary Person Responsible to Deduct Tax Insurance companies Exemption Limit Rs. 20,000 (Reduced to Rs.15,000 w,e,f, 01.06.2016) Time of Deduction of TDS At the time of payment or credit whichever earlier. Time for Deposit of TDS Within one week from of the day of the month of … Read more

How to Avoid TDS on FD Interest by Form 15G & 15H

First of all you need to understand that tax has to be deducted at source by banks on your FD interest. The bank will deduct TDS on interest payment or credited on your fixed deposits. Now, the question is that is there any possibility to avoid TDS on your fixed deposits? The answer is yes, … Read more

TDS Returns and Payment Due Dates F.Y.2017-18

Every person who are responsible to deduct TDS or Collecting TCS shall furnish a quarterly statement/return and deposit TDS for the period ending on 30th June, 30th September, 31st December and 31st March of each financial year. This TDS Calendar due dates chart  (F.Y. 2017-18) or (A.Y.2018-19) will help you to file your TDS return … Read more

TDS on Contract Payments [A.Y. 2018-19] 194C – Up to Date

There is a duty of payer to deduct TDS u/s 194C on making of payment/credited to contractor. Contractor includes a sub-contractor. In this article we will discuss about the TDS deduction and related procedure on payment to contractors & sub contractors. The article is up to date with latest amendment as per finance act 2017. Quick … Read more

Section 194A – TDS Interest other than Interest on Securities 2018-19

Here we will discuss about the complete detail about TDS deduction on interest other than interest on securities u/s 194A. You can find here TDS rates, exemption limit, responsible persons, time of deduction, TDS returns, time limit for deposit TDS and more. Quick Summary Person Responsible to Deduct Tax All Assessee except those individual and HUF … Read more

TCS Rates Chart for A.Y. 2018-19, F.Y. 2017-18

Every seller who comes under the specified goods as prescribed by Income tax act collect TCS from the buyer at prescribed rates and deposit the same in the account of Income Tax Department. The TCS will be collected as mentioned in the following table. The table shows nature of payment, TCS rates and status of … Read more

Income Tax and TDS Computation on Contract Based Employee

With the advent of globalization, many organizations now hire their workforce on contract basis. This means that the hired person is not a full-time employee of the company, rather the person is hired with a view to complete a certain task and then would be released or re-hired by the company later on. Income Tax … Read more

SMS Alerts to Increase TDS Transparency – A Good Initiative by CBDT

TDS means tax deducted at source. The government collects taxes from the salary as a fixed percentage. The employer deducts TDS of the salaried class people. Employer deducts TDS from the taxable salary of the employee i.e. if an employee makes certain investments which qualify for deduction from income that an employee can declare in … Read more

Download Free e-book of TDS on Salary

CBDT has published detail instruction PDF file for the guidance on TDS on Salary. Circular No.1/2017: Dated – 02-01-2017 F.No.275/192/2016-IT(B) For Financial Year: 2016-17 Download Here CBDT has released the e book on TDS amended up to Finance Act 2010. You can download it totally free because it made especially for taxpayers.  You don’t need … Read more

Penalty for Late & Non Filing of TDS Returns [Latest Amendments]

Every deductor (Who deduct TDS on behalf of a payee) has the duty to deposit TDS within the prescribed limit to the account of Income Tax department as per rules by Income Tax Act. Section 200 of Income Tax Act relates to depositing in many ways. Where a persons fails to deduct or pay tax, … Read more

Time Limit to Deposit TDS & TDS Certificate [A.Y.2017-18]

Now, you all know who is responsible to deduct TDS and on which payment they are liable to deduct TDS in our previous articles. But now it is the primary duty of the deducter to deposit TDS to the government account on behalf of deductee/payee. So deductees can claim it on their income tax returns. … Read more