Any income earned by a person in the form of commission, remuneration, or prize on lottery tickets (deductee) who has been selling lottery tickets (also stocking, distributing, and purchasing) is… Read more »
TDS needs to be deducted on maturity payment in respect of life insurance policy. Time of Deduction- TDS to be deducted at the time of payment. Deductor- Any person who… Read more »
TDS shall be deducted on winnings from lottery, game shows and puzzles by the prize distributor. 1. Applicability: Winning amount needs to be more than Rs 10,000 2. Deductor: Prize… Read more »
Indeed, a great privilege for Team TDSMAN as our Director, Mr. Ranjan Goenka has been featured by The Economic Times, Kolkata in their news daily on 7th April 2021. We… Read more »
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 »
The Income Tax Department has activated the online system to determine the ‘Specified Person’ on whom the higher rate of TDS / TCS will be applicable under the newly introduced… Read more »