Salary income: Employer deducts TDS on total income, including income other than salary after taking into account all deductions and exemptions. This saves the individual the hassle of paying tax… Read more »
Remark B is made applicable for Section code 194DA for Form 26Q, FY 2015-16, Q3 onwards. Addition of challan (i.e. C9 correction) in correction statements: As directed by Income Tax… Read more »
TDS on recurring deposits makes investors either submit the exemption forms if there is no taxable income. In case of TDS on RD, they may have to revisit their tax… Read more »
If you are in the higher tax bracket, that is 20% or 30%, make sure that you pay the additional interest before filing your tax returns. The biggest disadvantage of… Read more »
Though there is a provision to deduct tax at the source of income, one must assess this tax position. Despite TDS, one may have to pay tax, if his tax… Read more »
TDS from interest (other than interest on securities)-Section 194A There are several amendments pertaining to TDS from interest. 3.1 Interest on fixed deposits with banks attracts TDS under Section 194A…. Read more »