A few new TDS sections were introduced with effect from 01/07/2022. These included TDS on Transfer of Virtual Digital Assets (sec. 194S), TDS on Perquisites of Business or Profession (sec…. Read more »
Challan no. ITNS 281 is used by deductors to deposit TDS, TCS and demand payment. Following details are necessary to fill while payment of Challan ITNS 281: 1. Tax Applicable… Read more »
Section 194LBB of the Income Tax Act, 1961 has been inserted with effect from 1st June 2015 on TDS deduction on Income from Investment Funds. Time of Deduction: Deduction shall be… Read more »
TRACES introduced NIL TDS Statement/Declaration of TDS from the FY 2014-15. This is applicable for Deductors who did not deduct any tax during the relevant quarter. What is the benefit… Read more »
Salaried employees form the major chunk of the overall taxpayers in the country and the contribution they make to the tax collection is quite significant. Here we shall cover major… Read more »
In the Finance Act 2020, a new sub section has been added which is vide Section 206C (1H) to give effect to the Tax collected at source (TCS) on sales… Read more »