Interest on Late Payment of TDS
In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every… Read more »
Category: CBDT
New Tax Computation Regime (Sec 115BAC) – Some FAQs
Applicability of the New Tax Regime The new tax regime introduced in budget of 2020 under section 115BAC shall be applicable as follows: Effective from AY 21-22 i.e. FY 20-21… Read more »
Salary Details (Annexure II) : Form 24Q-Q4
Vide Notification No. 36/2019 by the Income Tax Department it had substantially modified the format of Part B of Form 16 (Salary TDS Certificate given to Employees) with effect from… Read more »
Interest on Late Payment of TDS
In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every… Read more »
New Section 194Q – TDS on Purchase of Goods (Union Budget 2021)
Applicability: This shall be effective 1st July’21 TDS Rate: 0.1% on amount exceeding Rs 50L 5% if PAN is not furnished When to Deduct? Assessee deducts while paying for the… Read more »
TDS / TCS at Higher Rates for Non-filers of IT-Return
Note: Effective FY: 2025-26, as per the Union Budget, removal of Higher TDS/TCS Rates for Non-Filers [Section: 206AB & 206CCA]. 1. Section 206AB Applicability: This shall be effective from 1st… Read more »