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NSDL TDS Traces

Section 194D- TDS on Insurance Commission

TDS needs to be deducted on payment of insurance commission. Time of Deduction- TDS to be deducted at the time of payment or credit, whichever is earlier. Deductor- Any person who makes a payment in the form of remuneration or reward as part of the insurance business should deduct tax Deductee- The payment of interest […]

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NSDL Traces

Section 194A- TDS on Interest (Other than Interest on Securities)

TDS to be deducted on interest payable like interest on fixed deposit, interest on unsecured loan. Interest on securities are not covered under this section but covered under Section 193. Time of Deduction- TDS to be deducted at the time of payment or credit, whichever is earlier. Deductor- Individual and HUF who are liable to […]

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TDS Traces

Section 194 – TDS on Dividend

Dividend received by resident shareholders are now taxable as per the income tax slab rates. Sec 194 has gained prominence as TDS shall be deducted on dividend by the company issuing and paying dividend to the shareholders. Time of Deduction- TDS to be deducted before making the payment. Deductor- Principal officer of a company which […]

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CBDT Income Tax NSDL TCS TDS Traces

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’ column in the TDS Return is used when; either higher or lower deduction is applicable. If standard rate is being used, the ‘Remarks’ column normally […]