TDS & TCS Rate Chart (FY: 2020-21 / AY: 2021-22)
TDS RATE CHART FY: 2020-21 (AY: 2021-22) Section Nature of Payment Threshold Indv/ HUF Others Rs. TDS Rate (%) 192 Salaries – Avg – 192A Premature… Read more »
Monthly Archives: March 2020
TDS/TCS Return – Online Filing
Steps for filing TDS/ TCS Return online: Step – I The data structure (file format) in which the e-TDS / e-TCS return is to be prepared has been notified in… Read more »
Types of Corrections in TDS Returns
There are 6 types of corrections namely C1, C2, C3, C4, C5, C9. The following table briefly talks about each correction type: Type Corrections in: C1 Deductor details: All details… Read more »
Reasons to reject the correction in challan detail by TDS-CPC
Rejection reasons pertaining to challan details are as follows: Challan detail record on which correction has been filed does not exist in regular / previous statement In a correction statement,… Read more »
Interest Liability for TDS Assessee-in-Default
A TAN holder who fails to deduct whole or any part of the tax at source is treated as an assessee-in-default. But, as per provision in section 201 the TAN… Read more »
Section 194C – TDS on Transporter
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 »