TDS Deduction on EPF Interest (New Rule)
Employee Provident Fund (EPF) was earlier not subject to tax and was tax-free in the hands of the employee. When a contribution was made, the employee could claim an income… Read more »
Author Archives: TDSMAN
CSI Download – Options through the Income Tax Portal
CSI file is provided by the Income Tax Department through its web portal for validating the Payment Challans reported in the quarterly TDS / TCS Return. CSI File is mandatory… Read more »
Significance of the ‘REMARKS’ in TDS Returns
For the different payment types, as per applicability, standard TDS rates are specified. Under certain provisions of the Act, there could be deviation from this standard deduction rate. The ‘Remarks’… Read more »
Healthy Practices for Error Free TDS Returns
Preparing TDS Returns is a simple process and usually does not require any external assistance. However, it is well advised to follow few practices that ensure the correctness of your… Read more »
FAQ on Online Correction
What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the various facilities available through online… Read more »
Section 194G – TDS on Commission on Sale of Lottery Tickets
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 »