TDS on Non-Salary Payments – Good Practices

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We are sharing with you some insights on good practices related to tax deductions for non-salary related payments:

  •  Based on the type of payment, make sure the Section is properly determined
  • For each Section, be aware of the threshold limit applicable for exemption of deductions
  • Check out the percentage of tax to be deducted
  • This percentage may vary for individuals and non-individuals – check it out
  • Percentage may not be the same for all months in a financial year – be careful
  • Make sure deductions are done on time – delayed deductions also attract interest

Click Here to view the latest TDS / TCS Chart with associated information.

Hope you have found this useful.

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