Category: TDS

Tax Deducted At Source

Provident funds: Premature withdrawal to be subject to TDS

Provident fund withdrawals before five years of completion of service will now attract income tax ranging between 10 per cent and 34.608 per cent. A new provision in the Finance… Read more »

Section 194C – TDS on Transporter

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Section 194C of the Income Tax Act, 1961 states that any payment to a transporter is subject to a Tax Deduction at Source (TDS) at the rate of: –1% in… Read more »

9 Amendments relating to TDS and TCS proposed in Budget 2015-16: Effective from June 01, 2015

Given below are the list of changes applicable from 1st June, 2015 for TDS and TCS amendments: 1. Requirement for obtaining evidence/ particulars by employer for TDS-Section 192 2. TDS… Read more »

3 Simple Steps for Tax Deductors to follow

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Below are the three simple steps for Tax Deductors to follow in case of TDS and TCS: 1. Deduct Correct TDS while making payment as required by law Deduct tax… Read more »