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

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

sms alert for TDS

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

TDS on Professional Services [A.Y. 2018-19] – Latest Up to Date Amendments

Professional services means services provided by professional persons like by advocates, chartered accountants, engineers or architect. Technical services means, the services which is in nature of technical, managerial and consultancy. Here, we will discuss about exemption limit, time of deduction of TDS, time limit to deposit TDS, TDS Returns, form 16a and more about TDS … Read more

TDS on Payment to Non-Residents and Foreign Company [A.Y.2017-18]

Any person responsible for paying to a non-resident, no being a company, or to a foreign company, any interest or any sum other than salary shall deduct TDS as per the provision or procedure given below. Please read the complete article to know the procedure to deduct TDS on payment to Non-residents and Foreign company. Person … Read more

TDS on Rent [A.Y. 2017-18] – Updates w.e.f. 1-6-2016

Rent means any payment made to owner of land, building, machinery and plant using it for your own purpose up to the time specified in the rent agreement, lease agreement or any other agreement or arrangement. In this article, we will discuss all detail provisions for deducting tax (TDS) from rent in a very easy … Read more