Duties of Tax Deductors (TDS)
Deduct Tax at Correct Rate and deposit in Government Account-Sec. 200 Every person responsible for deducting tax at source shall at the time of payment or credit of income, whichever… Read more »
Category: NSDL
Problem in validation of Salary Returns (Form 24Q) for quarter ended March 2015
File Validation Utility (FVU) Ver. 4.5 is the latest FVU released by the Income Tax Department for validating all TDS Returns from financial year 2010-11. While validating Form 24Q (Salary… Read more »
TDS Default Types & Tips to avoid it
One can avoid defaults in the TDS statements, by way of adherence to the following basic principles: Timely Payment of total taxes deducted/ collected Correct Reporting with regard to… Read more »
TDS/TCS Rates Chart for F.Y. 2015-16
The TDS and TCS rates chart for the financial year 2015-16 has been given below: TDS rates for F.Y. 2015-16 Nature of Payment Made To Residents Cutoff (Rs.) Company / Firm… Read more »
Changes in Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) in Budget 2015
Several amendments have been proposed in the sections dealing with the deduction of tax at source. 1. Requirement for obtaining evidence/ particulars by employer for TDS-Section 192 1.1 Currently, the… Read more »
TDS from interest on Recurring Deposit (RD), deposit in Cooperative Bank w.e.f 01.06.2015
There are several amendments pertaining to TDS from interest. 3.1 Interest on fixed deposits with banks attracts TDS under Section 194A. Only exception to this was in respect of interest… Read more »