Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021
Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the Second Proviso to Section 206C(1H) states… Read more »
Monthly Archives: April 2022
TDS / TCS Rate Chart FY: 2022-23 (AY: 2023-24)
TDS RATE CHART FY: 2022-23 (AY: 2023-24) Section Nature of Payment Threshold Indv / HUF Others Rs. TDS Rate (%) 192 Salaries – Avg – 192A Premature withdrawal from EPF… Read more »
Section 194LC: TDS on Income by way of Interest from an Indian Company or a Business Trust
Deductor- The Indian Company or a business trust paying interest income Deductee- A non-resident, not being a company, or to a foreign company Time of Deduction- At the time of… Read more »
TDS Under Section 194J(a) & 194J(b)
The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub-divided now into two sections, 194J(a) and 194J(b), effective from August 7 2020. u/s 194J(a) of… Read more »
New FVUs Version 7.5 & 2.171 released NSDL – 9th April 2022
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released on 9th April, 2022 The key features of this FVU is summarized as under: File Validation Utility (FVU):… Read more »
TDS in case of Salary Payment made in Foreign Currency
As per Section 192 of the Income Tax Act, “any person responsible for paying any amount under the head salaries is required to deduct tax at source at the time… Read more »